ALDA Pharmaceuticals Corp. (TSX VENTURE: APH)(OTCQB: APCSF) -
An extensive amount of company information is available in our
quarterly reports, these documents have become quite lengthy. There
is a requirement for management to provide a snapshot of the
Company at the time of a report, including its history and
development so that someone looking at the Company for the first
time can have a complete understanding without having to go back to
earlier reports. As a result, much of the information is carried
over from one report to the next, making them appear to be
repetitive. For example, testing of T36® conducted over 10 years
ago is still contained in the current reports to provide the
historical information and because the testing is still relevant to
the on-going therapeutic registration program. Here, then, is a
summary of the status of the Company's projects. More detailed
information up to December 30, 2010 can be found in the Form 20-F
dated posted on EDGAR, the electronic reporting system for the
SEC(1).
Sales
After a $1 Million quarter at the end of 2009, another $400,000
in sales were generated during the first three months of 2010,
mostly from the sales of T36® Antiseptic Hand Sanitizer. Sales were
boosted by ALDA's appointment as a supplier to the 2010 Winter
Games. Supplies of raw material were a challenge and, had they been
available, even more products would have been sold. After the
Olympics, the market for hand sanitizers collapsed due to a
complete lack of interest and the general feeling that the World
Health Organization had oversold the prospect of an H1N1 pandemic.
As a result, there are reports that the number of Canadians
receiving flu shots this winter is down by nearly half and that the
number of flu cases are up compared to normal levels in previous
years. Nothing lasts forever and such complacency will likely be
balanced in future years with demand for flu shots and sanitation
products returning to normal levels. The Company will continue to
use its status as a supplier to the Canadian Olympic Committee the
Canadian Olympic Team until the end of 2012 to promote its
products.
During the boom times, it was difficult to focus on anything
other than meeting the demand for ALDA's products. Now in quieter
times, it has been possible to pursue the other initiatives
described below.
Seavan Health & Beauty Partnership ("SHBP")
As reported in a news release issued on February 4, 2011, ALDA
has entered into a non-binding term sheet to acquire the assets of
SHBP. Management has been interested in controlling ALDA's
manufacturing needs for some time due to the high cost of having
products made by outside parties and having little, if any, control
over production schedules. Building a new manufacturing facility
for ALDA's needs was not considered to be a viable alternative
because the volume requirements have been difficult to define and
there is a lengthy regulatory process involved in obtaining the
required approvals. Acquiring an existing manufacturing business
with its own facilities, equipment, products, revenues and
regulatory approvals was seen to be a more desirable approach.
SHBP, located in Vancouver, fits this strategy very well. It has an
active business in contract manufacturing with over 750
formulations, including a number of its own products, for
pharmaceutical, nutritional and personal care markets in Canada and
the US. SHBP also has experience in manufacturing T36® products for
ALDA. The acquisition of SHBP by ALDA will reduce the cost of
ALDA's products, increase its product offerings, revenue stream and
asset base, improve its production scheduling, provide a broader
customer base, enhance regulatory expertise, create opportunities
for further growth and provide more ways to promote the Olympic
sponsorship. There is virtually no overlap of personnel between
ALDA and SHBP so a smooth and synergistic transition is
anticipated. Once the acquisition is consummated and production and
sales are contained within the new subsidiary, management will
again be able to focus more energy on the T36® therapeutic
products.
Therapeutics
The products in progress are described below along with a
summary of our market research on each category. In all cases, T36®
is anticipated to have a competitive advantage because of its broad
spectrum of activities against all types of infectious
micro-organisms including bacteria, fungi and viruses, relatively
low production costs due to the availability of the active
ingredients used to prepare T36® formulations and the absence of
toxicity, side effects or microbial resistance. Many of the
products currently serving the target markets may be effective
against only one type of infectious agent, expensive to prepare,
have serious side effects or lead to the development of resistant
organisms.
-- Pre-surgical skin antiseptics - This product line requires the least
regulatory work due to the need for only a single application on intact
skin. The significance of the market for skin antiseptics was
illustrated by the acquisition of Enturia, a provider of preparative
skin antiseptics by Cardinal Health in May, 2008 for $490 Million. Most
skin antiseptics have a limited spectrum of activity while T36® is
effective against all classes of infectious agents. Market research
suggests the global market for skin antiseptics is $1.6 Billion per
year.
-- Hand hygiene products - Registration of personal and professional hand
rubs and surgical scrubs requires a higher level of testing to establish
safety on intact skin after repeated and continuous use and to support
competitive claims of superior effectiveness, such as anti-viral and
anti-fungal activity. The combination of household and institutional
markets for hand hygiene products is estimated to be $2.5 Billion
globally per year.
-- Topical treatments for skin infections - An even higher level of testing
is required due to the need for multiple applications to broken skin and
the inclusion of additives such as anti-inflammatories, anesthetics and
analgesics. Topical treatments include first aid preparations,
treatments for skin infections, such as athlete's foot, diaper rash,
toenail infections and resolving infections associated with other skin
conditions. such as eczema. T36® formulations containing steroids
have been tested in a clinical setting against a variety of topical
infections and has been demonstrated to have a high level of
effectiveness. The broad range of conditions that can potentially be
treated with T36® preparations is estimated to be worth over $6
Billion globally per year.
-- Internal treatments - Products for the treatment of internal infections
require the highest level of testing due to use on mucosal membranes and
for the approval of competitive claims. Although a number of products
are available to treat yeast infections, fungi account for only one-
third of such infections while bacteria, parasites and combinations of
fungi and bacteria account for the remaining two-thirds. The ability of
T36® to treat all types of infections provides access to a global
market estimated to be $2 Billion per year.
Further testing needs to be done, including toxicity testing
with a suitable animal model, laboratory testing against specific
infectious micro-organisms, standard tests for hand hygiene
effectiveness, preliminary clinical trials to establish human
safety and full clinical trials on specific treatments, such as
athlete's foot and genital infections. The regulatory plan has
taken shape and the most current technical information on the
progress of the therapeutic plan is available on pages 17 to 28 of
the MD&A posted on EDGAR in the Form 20-F dated December 30,
2010(1).
Patents
Two patents have been issued in both the US and Australia
covering the composition, methods of preparation and certain
therapeutic and commercial uses of T36®. In China, one patent has
been issued covering the composition and methods of preparation.
The final amendments to a second patent covering therapeutic and
commercial uses have been provided to the Chinese patent office for
review. In Europe and Canada, single patent applications covering
composition, methods of preparation and certain therapeutic and
commercial uses of T36® are undergoing final reviews in the
respective patent offices. A comprehensive patent application
covering a wide range of therapeutic applications of T36®
containing additives such as anti-inflammatories, anesthetics and
analgesics is in the national review stage in Canada, the US, and
the EU.
About ALDA Pharmaceuticals Corp.
ALDA is focused on the development of infection-control
therapeutics derived from its patented T36® technology. The company
trades on the TSX Venture Exchange under the symbol APH and on the
OTCQB under the symbol APCSF. The Company was the Official Supplier
to the Vancouver 2010 Olympic Winter Games and the Vancouver 2010
Paralympic Winter Games and is the Official Supplier to the
Canadian Olympic Committee, the 2010 Canadian Olympic Team and the
2012 Canadian Olympic Team for antiseptic hand sanitizer,
disinfectant and disinfectant cleaning products. The Company was
also selected as one of the TSX Venture 50 companies in the
Technology and Life Sciences sector for 2010.
Terrance G. Owen, Ph.D., MBA, President & CEO
ALDA Pharmaceuticals Corp.
Cautionary Note Regarding Forward-looking Statements:
Information in this press release that involves ALDA's
expectations, plans, intentions or strategies regarding the future
are forward-looking statements that are not facts and involve a
number of risks and uncertainties. ALDA generally uses words such
as "outlook", "will", "could", "would", "might", "remains", "to
be", "plans", "believes", "may", "expects", "intends",
"anticipates", "estimate", "future", "plan", "positioned",
"potential", "project", "remain", "scheduled", "set to", "subject
to", "upcoming", and similar expressions to help identify
forward-looking statements. The forward-looking statements in this
release are based upon information available to ALDA as of the date
of this release, and ALDA assumes no obligation to update any such
forward-looking statements. Forward-looking statements believed to
be true when made may ultimately prove to be incorrect. These
statements are not guarantees of the future performance of ALDA and
are subject to risks, uncertainties and other factors, some of
which are beyond its control and may cause actual results to differ
materially from current expectations.
(1)
(http://www.sec.gov/Archives/edgar/data/1355736/000132531010000086/alda_201020ffinal.htm)
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: ALDA Pharmaceuticals Corp. Scott Young Investor
Relations 604-377-5781 or 604-521-8300 Ext 203 604-521-8322 (FAX)
scott_young@aldacorp.com www.aldacorp.com
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