|August 18, 2003
|HEMISPHERX BIOPHARMA ENTERS INTO SALES AND MARKETING AGREEMENT WITH ENGITECH FOR ALFERON N
| Agreement Provides Nationwide Sales Team for Alferon N
Philadelphia, PA, Monday, August 18, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) announced today that it
has entered into a sales and marketing agreement with Engitech (www.engitech.net) to launch Alferon N® on a nationwide scale. Alferon N, the company’s lead drug, is a highly purified, natural source, multispecies alpha interferon product. It is the only natural interferon approved by the FDA for the treatment of genital HPV (refractory condylomata acuminata).
The Agreement stipulates that Engitech will deploy a sales force of 100 sales representatives within one year in the U.S. domestic market and further expand the sales team up to 250 sales representatives in the second year and after that as many as it takes to continually drive market share. Engitech will also develop and implement a strategic and tactical marketing action plan and see it through to success. Furthermore, Engitech will initiate and organize an extensive scientific and educational program towards a targeted audience of physicians and consumers.
Hemispherx has a significant amount of anticipation launching Alferon N® into the U.S. market. This penetration into the marketplace is expected to lead to a significant increase in sales in the coming months. Alferon N® generated approximately $ 2 Million of gross revenue in the year 2002. However, at that time, there was no sales team in place, nor were there any promotional or marketing efforts.
According to the National Institute of Allergy and Infectious Diseases (NIAID) there are approximately 5.5 million new genital HPV infections each year with more than 20 million people in the United Stated currently infected.
Engitech is a privately held corporation created in 1987 to provide professional services to the pharmaceutical and biotech industries. The company has a large expertise in launching new products, developing new sales initiatives for existing product lines, moving branded generic products as prescription brand name only. Engitech is known for its’ sales and marketing excellence and has worked with the top 10 pharmaceutical companies worldwide.
Hemispherx Biopharma, based in Philadelphia, is a biopharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of viral and immune-based chronic disorders. Its flagship products include Alferon and the experimental immunotherapeutics/antivirals Ampligen and Oragens. These novel proteins, approved for a category of STD infection, and experimental nucleic acids are being developed for globally important chronic viral diseases and disorders of the immune system including HPV, HIV, CFS, Hepatitis and SARS. Its platform technology includes large and small agent components for potential treatment of various chronic viral infections. Hemispherx has approximately 400 patents comprising its core intellectual property estate, a fully commercialized product (Alferon N) and GMP certified manufacturing facilities for its novel pharma products. For more information please visit www.hemispherx.net
Hemispherx Biopharma, Inc.,
Dianne Will, Investor Relations
(518) 398-6222, Fax: (518) 398-6369
HEB's Web Site: www.hemispherx.net
Information contained in this news release other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risk of competition, changing market conditions, change in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Any specifically referenced investigational drugs and associated technologies of the company (including AmpligenÒ and Oragensä) are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. Clinical trials for other potential indications of the approved biologic AlferonÒ do not imply that the product will ever be specifically approved commercially for these other treatment indications including SARS. The Alferon® asset for overseas sales for a category of STD is currently being acquired by the Company as part of a multi-step purchase contract of inventory, intellectual property, commercial licenses and GMP approved facilities, which house the biological operations.