26 Nov 2008 07:00
Embargoed for 7am 26/11/2008
ReGen Signs Test-Marketing Agreement for Colostrinin™ in Poland
ReGen Therapeutics Plc ('ReGen' or the 'Company') is pleased to announce that it has today signed an agreement with Tagerr* for the test-marketing of its nutritional supplement ColostrininTM in Poland during the first half of 2009.
If this test marketing is agreed to be successful by both parties Tagerr will then be made ReGen's exclusive distributor for Poland subject to Tagerr being able to secure the necessary regulatory and import approvals.
To date ColostrininTM is marketed in the US, Canada and Australia under the brand name CogniSureTM ** and in Cyprus under the brand name CognaseTM *** as a nutritional supplement to 'support healthy brain aging and cognition in humans'. Commenting on this agreement Percy Lomax, Chairman and Chief Executive Officer of ReGen said :
"The agreement in Poland marks an important step in the accelerated roll out programme for Colostrinin™. Poland is the country where Colostrinin™ was first discovered and we know from the internet that there is significant knowledge of the product in Poland. As such both Tagerr and ourselves are optimistic that sales here will be significant".
* Tagerr is a professional services and trading company established in Köln, Germany. In operation since 1995, Tagerr has enjoyed considerable successes in marketing and distribution of consumer products, including food supplements, in central Europe and Germany.
**ColostrininTM for use as a human nutraceutical is licensed in North America and Australasia to Metagenics Inc. of San Clemente, California (www.Metagenics.com).
*** ColostrininTM is distributed in the Republic of Cyprus by Golgi Pharmaceuticals Ltd (www.healthybrainaging.com)
For further information:
Percy Lomax
ReGen Therapeutics Plc
Tel No 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish Limited
Tel No 020 7628 3396
Nick Bealer/David Scott
Alexander David
Tel No 020 7448 9820
Adrian Duffield/Jon Davies
College Hill Associates
Tel No 020 7457 2020
Notes to Editors:
Colostrinin™ is derived from colostrum a mammal's first milk after birth and is produced in a production line in S Dakota, freeze dried in Oregon and tabletted at Metagenics Inc plant in California. Metagenics are the distributors in North America and Australia. If full production and sales were achieved on North American margins revenue to the Company would be $10 million before relatively low head office expenses. It would be possible, by spending around another $550,000 to bring production facilities up to a level to generate revenue of around $50 million.
Colostrinin™ has been available in the professional channel of the healthcare market in North America and Australia for over a year. Although achieving professional awareness and endorsement was a necessary first step, retail distribution, was always and remains our objective. The first retail launch was in Cyprus in October and there are already encouraging reports from this market. Poland marks yet another step in the development of Colostrinin™ to make ReGen Therapeutics a self-sustaining business.