Healthcare Industry News: OMRIX Biopharmaceuticals
News Release - September 29, 2006
OMRIX Biopharmaceuticals Announces New Strategic Product Development Programs
Fibrin Sealant Technology and Expertise Expanded for Anti Adhesion and Spine UseNEW YORK--(HSMN NewsFeed)--OMRIX Biopharmaceuticals, Inc. ("OMRIX" or the "Company") (NASDAQ: OMRI ), a commercial-stage biopharmaceutical company that develops and markets biosurgical and antibody-based products, today announced two new strategic product development programs in anti adhesion and spine utilizing its fibrin sealant technology.
Development milestones include the submission of an IND/IDE (Investigational New Drug/Investigational Device Exemption) submission in December 2006 for the anti adhesion product followed by and IND filing for the spinal product. Both products are being developed solely by OMRIX.
"Our decision to undertake two new product development programs reflects the Company's business strategy to pursue additional indications and develop product extensions for our existing products," stated Robert Taub, President and Chief Executive Officer. "We believe there is untapped market potential beyond hemostasis where our fibrin sealant technology can be applied. Anti adhesion and spine are two areas where OMRIX can grow organically and utilize its expertise in biosurgery product development."
About OMRIX Biopharmaceuticals, Inc.
OMRIX, a commercial-stage biopharmaceutical company, develops and markets innovative biosurgical and antibody-based products, utilizing its proprietary protein purification technology and manufacturing know-how. As part of its business strategy, OMRIX commercializes certain biosurgical products through collaborations with companies whose marketing and sales expertise are a complement to OMRIX's own areas of specialty. OMRIX's novel and easy-to-use biological-device convergence products address unmet medical needs. For more information, please visit: www.omrix.com.
Safe Harbor Statement
This press release contains forward-looking statements. Forward-looking statements provide the company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The company's actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors described in the company's filings with the SEC, including sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Prospectus as filed with the Securities and Exchange Commission on April 21, 2006 and the company's most recent quarterly reports on Form 10-Q and its current reports on Form 8-K. Unless required by law, the company undertakes no obligation to publicly update or revise any forward-looking statement to reflect circumstances or events after the date of this press release.
Source: OMRIX Biopharmaceuticals
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