Calypte Biomedical Corp. (ticker: CALY, exchange: NASDAQ) News Release - 3-Apr-2003
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Calypte Expands Distribution into the Middle East; Mistaire LLC Selected to Distribute Calypte Products Throughout the GCC
ALAMEDA, Calif.--(BUSINESS WIRE)--April 3, 2003--Calypte Biomedical Corporation (OTCBB:CALY), the developer and marketer of the only two FDA approved HIV-1 antibody tests for use with urine samples, announced that it has signed an exclusive three-year distribution agreement with Mistaire LLC to distribute the Company's Urine HIV-1 EIA and Western Blot test kits in the six member states of the Gulf Cooperative Council (GCC), which include Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, and Oman. The agreement also gives Mistaire non-exclusive distribution rights for the Serum HIV-1 Western Blot tests in the same territories.
"We could not have selected a more appropriate distributor," said Tony Cataldo, Calypte's Executive Chairman. "Mistaire's management has extensive experience in the Middle East healthcare environment, including past management of regional affairs for companies such as Johnson & Johnson and Parke Davis. Because we have pre-existing USFDA approval, it is anticipated that these products will be freely marketable in the territory in the near future."
The agreement calls for minimum purchase orders of Calypte's products, and assuming that business activities in the Gulf region return to normalcy shortly, Mistaire's initial order is likely to be placed and shipped before the end of the current quarter. The agreement is extendable for an additional two years contingent upon the distributor's performance, and new minimum purchases will be negotiated at that time.
B.J. Harid, President of Mistaire, stated, "We believe that the potential safety hazards associated with traditional blood tests are a significant concern in the region, and urine testing can make a meaningful contribution to improving the safety of the process for all parties concerned."
He added, "Although the prevalence of HIV in the local population is believed to be quite low by international standards, the large contingent of foreigners in the region -- some of which come from high prevalence countries -- requires a prudent degree of vigilance. We believe that the painless and non-invasive urine testing approach can become the method of choice in a variety of institutionalized testing settings, including immigration."
Nancy Katz, president and chief executive officer of Calypte, stated, "The GCC represents a brand new market for us. The testing that is undertaken here would be best described as precautionary, rather than an urgent public health imperative. Nonetheless, the need for improved testing methodologies is a growing concern and Calypte is pleased to make its unique urine tests available to the region through Mistaire."
About Mistaire LLC:
Mistaire LLC is a U.S.-based corporation headquartered in New York City. Mistaire Ltd., an associated company in India, operates a manufacturing facility for biochemistry reagents and pharmaceutical products, and distributes those products in both India and the GCC. Mistaire's GCC operations are headquartered in Dubai, United Arab Emirates.
About Calypte Biomedical:
Calypte Biomedical Corporation headquartered in Alameda, California, is a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services for Human Immunodeficiency Virus Type 1 (HIV-1), sexually transmitted diseases and other infectious diseases. Calypte's tests include the screening EIA and supplemental Western Blot tests, the only two FDA-approved HIV-1 antibody tests that can be used on urine samples. When compared with existing blood-based tests, our testing algorithms are non-invasive, easier to use, less expensive and have significantly less risk than blood-based testing, and they have 99.7% sensitivity in subjects previously identified as HIV-1 infected and 100% specificity in subjects at low risk when combined with the urine-based Western Blot supplemental test. The company believes that accurate, non-invasive urine-based testing methods for HIV and other infectious diseases may make important contributions to public health by helping to foster an environment in which testing may be done safely, economically, and painlessly. Calypte markets its products in countries worldwide through international distributors and strategic partners.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our product and testing service in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the year ended December 31, 2002 and its subsequent filings with the SEC.
CONTACT: Calypte Biomedical Corporation
Richard VanMaanen, 613/728-3130 or 510/749-5153
dvanmaanen@calypte.com www.calypte.com
or
Sitrick And Company
Joe Bunning, 310/788-2850
joe_bunning@sitrick.com
SOURCE: Calypte Biomedical Corporation