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Osteologix Announces Completion of Corporate Consolidation

August 5, 2011

DUBLIN, August 5, 2011 /PRNewswire/ –

Osteologix Holdings, PLC (“Osteologix” or the “Company”) stated that its
previously announced plans to consolidate its operations in Ireland have
been completed. All operations at the former location in Virginia have
ceased. Its former parent, Osteologix, Inc. has been dissolved and all
former shareholders as of the exchange date of July 26, 2011 will receive an
equal number of shares of Osteologix Holdings PLC. Shares of the Company
stock are traded on the Pink Sheets under the ticker symbol OLGXF.

The Company is seeking to minimize its corporate overhead expense, while
focusing its business activities on maximizing the value of the Company’s
licensing agreement with the Servier Research Group and continuing to seek
development partners in the United States for NB S101, its product candidate
for the treatment of osteoporosis.

Assuming the continued milestone payments, and the anticipated royalties
from the Company’s license agreement with the Servier Research Group,
Osteologix looks forward to operating on a positive cash flow basis with the
potential for dividend payments to shareholders possibly beginning in late
2011.

David O’Flynn is Managing Director of Osteologix Holdings PLC and can be
contacted at the address below.

About Osteoporosis

The World Health Organization defines osteoporosis as a progressive
skeletal disease characterized by low bone mass and micro-architectural
deterioration of bone tissue with a consequential increase in bone fragility
and susceptibility to fracture. There is increased risk of fracture
particularly of spine, hip, pelvis and forearm. It is predominantly a
disease of post-menopausal women and risk of fracture increases with age.
Fractures caused by osteoporosis affect one in two women and one in five men
over the age of 50.

About NB S101

NB S101 is a novel dual acting bone agent, or DABA, the active component
of which significantly improves bone mineral density and reduces fracture
risk. NB S101 has demonstrated significant beneficial effects in a Phase 2
clinical trial by reducing bone resorption and increasing strong bone
formation. This dual action on bone- a significant medical need not served
by current therapies in the U.S.- suggests that NB S101 could fundamentally
change the treatment paradigm of patients with osteoporosis. Importantly, NB
S101 appears to help build bone in a manner similar to the body’s own
metabolic processes by rebalancing bone metabolism in a way that favors
strong bone formation. Key patents for NB S101 have been issued in the
United States, Europe and Japan, providing protection to at least 2024.

About Osteologix
Osteologix is a specialty pharmaceutical company focused on the development
of innovative therapies for the treatment and prevention of diseases of bone
and joint tissues. Its lead product candidate, NB S101, is a novel
pharmaceutical agent for the treatment and prevention of osteoporosis. In
November 2007, Osteologix completed a Phase II clinical trial of NB S101
that demonstrated the ability of NB S101 to reduce markers of bone
resorption and increase bone mineral density. In July, 2010 Osteologix
granted the Servier Research Group an exclusive royalty bearing license to
develop and commercialize NB S101 (strontium malonate) and other strontium
salts covered by Osteologix’s patent rights to treat post menopausal
osteoporosis, other bone and joint disorders and dental indications
worldwide, except in the U.S. For more information please visit

http://www.osteologix.com.

Safe Harbor Statement:
Statements in this press release are not strictly historical, including
statements about the corporate consolidation, operating on a positive cash
flow basis, the payment and timing of any potential dividends, potential
payments and royalties from Servier and their impact on Osteologix’s
finances, the potential uses and benefits or NB S101, Servier’s potential
commercial launch of NB S101, and patent protection of NB S101 are
forward-looking statements made pursuant to the safe-harbor provisions of
the United States Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those projected or assumed in
such forward-looking statements, including, without limitation, Osteologix’s
obligations to Aditech Pharma AB, risks related to Servier’s ability to
conduct additional clinical trials of NB S101, Servier’s ability to obtain
approval from government authorities for the sale and distribution of NB
S101, Servier’s compliance with terms of our agreement, market acceptance of
NB S101 and potential success and introduction of competing products.
Additional factors that could cause actual results to differ materially are
included under the heading “Risk Factors” in Part II, Item 1A of the
Osteologix, Inc. Quarterly Report on Form 10-Q filed November 15, 2010. All
forward-looking statements and risk factors included in this document are
made as of the date hereof, based on information available to us as of the
date hereof, and we assume no obligation to update any forward-looking
statement or risk factor. You should consult the risk factors listed in the
Osteologix, Inc. Annual Report on Form 10-K and in the Osteologix, Inc.
Quarterly Reports previously filed on Form 10-Q.

SOURCE Osteologix Holdings, PLC


Source: newswire



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