Oxis International Finalizes First Commercial Sale of L-Ergothioneine to Minitube of America
FOSTER CITY, Calif.--
Oxis International Inc. (OTCBB: OXIS), a biopharmaceutical company focused on commercializing predictive biomarkers, clinical assays and nutraceutical and therapeutic products, announced today that it has received its first commercial purchase order for L-Ergothioneine (ERGO), its proprietary, lead antioxidant product. ERGO is protected by United States and foreign patents, claiming the only known method of synthesizing this potent antioxidant in commercial quantities. In a recent joint research project with Minitube of America (MINITUBE), located in Madison WI, and Golden Gourmet Mushrooms (GGM), San Marcos CA, ERGO was shown to exert a significant protective effect on sperm cells obtained from horses and boars and significantly increased sperm cell viability. These positive findings will be explored through subsequent joint, equine, porcine, bovine, and canine clinical fertility research projects.
Minitube of America and Oxis International are negotiating an exclusive collaborative relationship to provide the advantages of ERGO to the livestock production industry. MINITUBE has ordered its first commercial supply of ERGO and will include this essential antioxidant nutrient in the production of its semen extenders that are distributed world wide. OXIS and MINITUBE are in discussions regarding future ERGO supply requirements and related manufacturing/sales costs.
"ERGO has the potential to play a significant role in enhancing fertility," stated Marvin S. Hausman, M.D., CEO, Oxis International, Inc. "Not all sperm will survive the freezing and thawing process after collection representing one of the biggest challenges in the process of human and/or animal semen collection and cryopreservation. The research results to date with ERGO dramatically show the potential application of ERGO in the field of cell preservation including, but not limited to, sperm cells, stem cells, red blood cells and cell cloning. The commercial sales potential of the veterinary and human fertility markets are enormous and ERGO has the potential to become a significant generator of revenue for the Company."
"I am quite pleased about these findings and look forward to our exclusive use of ERGO to increase the potency and efficacy of our semen extenders," stated Ludwig Simmet, CEO, Minitube of America. "We look forward to the results of our upcoming collaborative fertility research projects to further validate our findings with ERGO and the ERGO specific transporter present in cell membranes that was discovered and published by Dr. Dirk Grundemann of the University of Cologne, Cologne, Germany.We are pleased that our collaborative project will give our company access to Oxis's patented ERGO manufacturing expertise"
Craig Anderson, CEO, Golden Gourmet Mushrooms Inc. added, "I am looking forward to the use of our antioxidant Mushroom Matrix (tm) nutritional supplement in the upcoming joint research project. Since L-Ergothioneine can only be produced by mushrooms and not by any mammal, I am pleased that our antioxidant product will be included in the nutritional supplement aspect of the upcoming study."
About OXIS and BioCheck:
OXIS International, Inc. develops technologies and products to research, diagnose, treat and prevent diseases of oxidative stress associated with damage from free radical and reactive oxygen species and the related increased inflammation that accompanies oxidative stress. OXIS presently holds the rights to 4 therapeutic classes of compounds in the treatment of oxidative stress, and has focused commercialization programs in clinical cardiovascular markers, including MPO (myeloperoxidase) and GPx (glutathione peroxidase), as well as the super potent antioxidant, Ergothioneine, that is planned to be introduced as an over-the-counter nutraceutical supplement. OXIS's customers include leading pharmaceutical companies such as Pfizer, Glaxo Smith Kline and Genzyme and universities such as Baylor College of Medicine, University of Minnesota, Virginia School of Technology, strategic business partners such as Minitube of America and Minitube Germany, distributors and government laboratories. OXIS has acquired a 51% interest in BioCheck, with the option to purchase the remaining 49%.
BioCheck is a provider of high quality enzyme immunoassay research services and products, and a leading provider of immunoassay kits for cardiac and tumor biomarkers, infectious diseases, thyroid function, steroids, and fertility hormones. BioCheck operates a 15,000 square-foot, U.S. Food and Drug Administration (FDA) certified cGMP, and ISO device-manufacturing facility in Foster City, California.
More information about OXIS, BioCheck and their products, services as well as current SEC filings may be obtained by visiting http://www.oxisresearch.com and http://www.biocheckinc.com.
About Minitube of America:
Minitube of America is a global leader in the development, manufacturing and distribution of products and services for artificial insemination, embryo transfer, in vitro fertilization and other assisted reproduction technologies for animals. Minitube has commercial operations in the United States, Canada and Mexico and conducts advanced scientific research at the Minitube International Center for Biotechnology, located in Wisconsin. For more information on Minitube and its products, visit its web site at www.minitube.com or call 800-646-4882.
About Golden Gourmet Mushrooms, Inc:
Golden Gourmet Mushrooms, Inc. (GGM) has been producing organic, specialty mushrooms in San Marcos, California since 1987. Golden Gourmet is an innovator in the mushroom industry and has introduced many new fresh mushrooms to the North American marketplace. Current expansion of the fresh mushroom production facility features state of the art environmental controls and production technologies. It is designed to produce 6 million pounds per year of certified organic "wild cultivated" mushrooms under exacting quality control standards, making GGM one of the largest producers of specialty mushrooms in North America. Contact information, Steven Farrar, Golden Gourmet Mushrooms, Inc., 760-471-7300.
The statements in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding our expectations, objectives, anticipations, plans, hopes, beliefs, intentions or strategies regarding the future. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties indicated in the company's filings with the Securities and Exchange Commission. It is important to note that actual outcomes could differ materially from those in such forward-looking statements.
Source: Oxis International Inc.
Released October 24, 2007