Haemacure Starts Construction on New State-of-the-Art Biologics Facility

17-Dec-2007

Haemacure Corporation announced the start of construction of its manufacturing facility, the production of laboratory samples of fibrin sealant, the hiring of two senior scientists and shares purchases by insiders. Construction is underway at the facility to prepare for the installation of the clean room. Haemacure is on plan to have an operational facility by mid-2008.

Construction of a state-of-the-art facility incorporating the latest proven manufacturing components is a major milestone that will require significantly lower capital investment than originally planned. The facility will also allow lower operating costs and higher final product safety standards. Haemacure has produced in its laboratory samples of its proprietary fibrin sealant for delivery to potential partners for evaluation as a part of a collaboration program.

This will enable these partners to evaluate the product in their labs and see how it can enhance the performance of their own products, in wound management, regenerative medicine, drug delivery and combination with biomaterials applications. Haemacure also reports that certain of its directors and officers have purchased directly and indirectly in excess of 1 million shares of the Corporation on the secondary market at prices ranging from $0.12 to $0.155 per share.

The purchases were made between October 26 and November 30, 2007 in accordance with regulatory requirements and filed with the System for Electronic Disclosure for Insiders (SEDI), where further details on individual purchases may be accessed.

"I am very excited with the rapid progress we have made since announcing our First-Patient-In-The-Clinic strategy for fibrin sealant on October 24, 2007. I am also pleased with this strengthening of our scientific and technical team and the product samples they have produced", said Joseph Galli, Chairman and CEO of Haemacure. "Haemacure is well on its way to delivering on the turnaround plan initiated on February 1, 2007 and will be positioned as the only independent, next generation, human fibrin sealant global supplier, concluded Mr. Galli.

https://www.bionity.com/en/news/75818/haemacure-starts-construction-on-new-state-of-the-art-biologics-facility.html