Alfacell Announces ONCONASE(R) Distribution and Marketing Agreement With BL&H for...

Alfacell Announces ONCONASE(R) Distribution and Marketing Agreement With BL&H
for South Korea, Taiwan and Hong Kong

SOMERSET, N.J., Jan. 22 /PRNewswire-FirstCall/ -- Alfacell Corporation
(Nasdaq: ACEL) today announced that it has entered into a distribution
agreement with BL&H Co. Ltd., a leading pharmaceutical company in Southeast
Asia, for the commercialization of ONCONASE(R) (ranpirnase) in South Korea,
Taiwan and Hong Kong. ONCONASE, the company's lead drug candidate, is
currently being evaluated as a treatment for unresectable malignant
mesothelioma (UMM) in a confirmatory Phase IIIb clinical trial.
Under the agreement, Alfacell has granted BL&H exclusive rights in the
defined territory for the marketing, sales and distribution of ONCONASE.
Alfacell has received an up-front fee of $100,000 and is eligible for
milestone payments based on the achievement of certain regulatory approvals
and net sales levels. Alfacell will also receive 50% of all net sales in the
territory. In addition, Alfacell will manufacture and supply the product to
BL&H, while BL&H will be responsible for all activities and costs related to
regulatory filings and commercial activities in the territory.
"This partnership represents another important step forward in the
execution of our global commercialization strategy for ONCONASE," said Kuslima
Shogen, chief executive officer of Alfacell. "BL&H's extensive market
knowledge, commercial capabilities, established oncology franchise and
successful track record in the marketing and sales of several leading cancer
therapeutics provide Alfacell with an ideal partner to maximize the potential
of ONCONASE in this region. We look forward to a successful collaboration with
BL&H."
D.C. Roh, president of BL&H, said, "We are pleased to enter into this
agreement with Alfacell. We believe that ONCONASE will prove to be a promising
new treatment option for patients suffering from mesothelioma. We look
forward to working with Alfacell on a successful product launch."
About ONCONASE(R)
ONCONASE is a first-in-class product candidate from Alfacell's proprietary
ribonuclease (RNase) technology. A natural protein isolated from the leopard
frog, ONCONASE has been shown in the laboratory and clinic to target cancer
cells while sparing normal cells. ONCONASE triggers apoptosis (natural death
of cells) via multiple molecular mechanisms of action.
About Alfacell Corporation
Alfacell Corporation is the first company to advance a biopharmaceutical
product candidate that works in a manner similar to RNA interference (RNAi)
through late-stage clinical trials. The product candidate, ONCONASE, is an
RNase that overcomes the challenges of targeting RNA for therapeutic purposes
while enabling the development of a new class of targeted therapies for cancer
and other life-threatening diseases. In addition to an ongoing Phase IIIb
study in malignant mesothelioma, Alfacell is conducting a Phase I/II trial of
ONCONASE in non-small cell lung cancer (NSCLC) and other solid tumors. For
more information, visit www.alfacell.com.
About BL&H
BL&H is a privately owned pharmaceutical company based in South Korea.
BL&H was established in 1999 with the aim of becoming a leader in the delivery
of pharmaceuticals and services that fulfill unmet medical needs in the Korean
market. BL&H specializes in hospital-based products in hematology, oncology,
rheumatology and respiratory medicines. The BL&H management team has extensive
experience in the pharmaceutical and healthcare sectors and in bringing
specialty products to market.
Safe Harbor
This press release includes statements that may constitute "forward-
looking" statements, usually containing the words "believe," "estimate,"
"project," "expect" or similar expressions. Forward-looking statements involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or contribute to
such differences include, but are not limited to, uncertainties involved in
the outcome of clinical trials for ONCONASE, the company's ability to secure
necessary marketing approvals of ONCONASE from regulatory agencies,
transitioning from concept to product, uncertainties involving the ability of
the company to finance research and development activities, potential
challenges to or violations of patents, dependence upon third-party vendors,
and other risks discussed in the company's periodic filings with the
Securities and Exchange Commission. By making these forward-looking
statements, the company undertakes no obligation to update these statements
for revisions or changes after the date of this release.
Media and Investor Contact:
David Schull or Wendy Lau
Russo Partners
212-845-4271
david.schull@russopartnersllc.com
wendy.lau@russopartnersllc.com

SOURCE Alfacell Corporation

David Schull or Wendy Lau, +1-212-845-4271, david.schull@russopartnersllc.com,
wendy.lau@russopartnersllc.com, both of Russo Partners, for Alfacell
Corporation