OTTAWA, Ontario, September 6, 2016 The Board of Directors of VMS Rehab Systems, Inc. reported today that the Company's generic drug unit, BioPharmcor B.V. has made significant progress over the past 18 months in its formulation development program of its first generic drug , tadalafil, a first line treatment for men suffering from Erectile Dysfunction (ED) and Benign Prostatic Hyperplasia (BPH). The company has indicated that the results of BioPharmcor's drug formulation development program for tadalafil have produced a formulation and manufacturing process that is equivalent to the branded drug reference product in terms of its key quality physical and chemical attributes and also has similar drug release characteristics that are indicative of comparable in vivo performance.
According to a spokesperson for the Company, "BioPharmcor is ready to move into clinical trial batch manufacture and clinical studies in healthy volunteers to demonstrate bioequivalence. Once clinical trial material is available, the studies will take approximately six months to complete and then there will be a further 9 month period for the generation of stability data (12 months data in total) for the regulatory submissions that will happen in parallel."
In 2014, VMS Rehab Systems, Inc. made an investment in the generic pharmaceutical business with the acquisition of an early stage generic drug pharmaceutical, BioPharmcor Sp. z o.o., Warsaw, Poland. The company's drug unit was subsequently reorganized under Dutch based BioPharmcor B.V., headquartered in Amsterdam, The Netherlands. A Canadian unit, BioPharmcor Inc., was established in 2016 to manage the Company's drug formulation program in conjunction with Kabs Laboratories, St. Hubert, Quebec.
Established in 1998, VMS Rehab Systems, Inc., is headquartered in Ottawa, Canada and maintains affiliate offices in Amsterdam, The Netherlands and Warsaw, Poland. The shares of VMS Rehab Systems, Inc. are listed on the US OTC Pink Current Market (Symbol: VRSYF).
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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VMS Rehab Systems, Inc.
In Canada: 1-613-292-2307
In Europe: +48-787-668-861