Biotech Holdings moving forward with production facility for supply of Sucanon drug
VANCOUVER - Robert Rieveley, President of Biotech Holdings (the "Company") announced that the Company is moving forward immediately to bring its new facility up to operational status for the production of Sucanon, the Company's new diabetes drug.
"We are currently moving equipment into our new facility and are starting immediately on improvements required to bring the facility into production. The company has on hand sufficient funds for the cost of facilities improvements and required new equipment. We project that we will have completed the requirements for an operational facility by the end of February. Staffing requirements have been arranged," Mr. Rieveley said.
"Our production facility is designed to be scaled up depending on demand from Mexico and other Latin American markets. We project initial monthly production of up to 40,000 one-month treatment packages and have designed production in the facility to be scaled up to 400,000 one-month treatment packages," Mr. Rieveley said.
"The Company has a marketing partner for Peru and expects to choose a marketing partner for Mexico shortly," Mr. Rieveley said.
Biotech Holdings' key product is a new drug -- known as Sucanon, Glucanin and Diab II in different markets -- for the treatment of Type II Diabetes and Impaired Glucose Tolerance.
Biotech Holdings has received regulatory approval for sale of the drug in Mexico and Peru as a treatment of Type II Diabetes symptoms. Biotech Holdings has also signed distribution agreements for the drug for Chile, Venezuela, Columbia and Argentina and plans to make regulatory applications for Sucanon in these jurisdictions as well as in Brazil.
The drug is an insulin-receptor sensitizer, a new class of drugs for controlling the chronically high blood sugar levels that typify diabetes. The drug, in tablet form, works by improving patients' ability to utilize insulin, the hormone that controls blood sugar levels. Type II Diabetes affects more than 17 million people in North America, over 20 million in Latin America and over 150 million worldwide.
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