Stellar International's URACYST®–S Receives European Regulatory Approval London, Ontario October 2, 2003 – Stellar International Inc. (TSXV: YYS OTCBB:SLRXF ), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today reported that G. Pohl-Boskamp GmbH & Co., Stellar’s European licensee for Uracyst®-S, has received European regulatory approval for the product.
“This is the news we have been waiting for,” stated Peter Riehl, Stellar’s President and Chief Executive Officer. “It allows Pohl-Boskamp to prepare for the near-term European launch of Uracyst®-S / Uropol-S. Uracyst®-S will provide a significant addition to the armamentarium European physicians have for the treatment of GAG deficient cystitis, a chronic debilitating and difficult to manage bladder syndrome.”
Pohl-Boskamp is an integrated pharmaceutical company with a well established presence in the Pan-European market where it focuses on their proprietary medicines and niche pharmaceutical markets. Given Pohl-Boskamp’s experience in niche marketing, Uracyst®-S has the potential of becoming a very successful product in the European market.
Stellar International has developed and is marketing three products in Canada based on its core polysaccharide technology: NeoVisc®, for the treatment of osteoarthritis, Uracyst®-S and the Uracyst Test Kit, Stellar’s patented technology for the diagnosis and treatment of Interstitial Cystitis (IC), an inflammatory disease of the urinary bladder wall. The Uracyst® treatment for IC costs less than competing products and has shown a good symptomatic response rate. Stellar also has an in-licensing agreement for Skelite™ a proprietary synthetic bone-grafting product which is expected to positively impact sales in 2003.
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This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings.
For more information contact:
Peter Riehl, President & CEO
(519) 434 -1540
Herbert Lanzet/DeeDee Lanzet
H.L. Lanzet, Inc