Neptune launches Onemia medical food

Oct 25 2010

Neptune Technologies & Bioressources Inc. ("Neptune") (Nasdaq:NEPT)  (TSX-V:NTB) enters the pharmaceutical market with the launch of Onemia™, the first medical food of Neptune's subsidiary Acasti Pharma Inc. ("Acasti"). Only two years since its foundation, Acasti has completed the development and launch of "Onemia™" on October 21, 2010 at the Cardiometabolic Health Congress meeting in Boston.

Onemia™ is a pharmaceutical marine-based omega-3 phospholipid concentrate classified as a novel medical food, regulated by FDA and clinically proven safe and effective for the management of unmet medical needs associated with chronic cardiometabolic disorders. As a medical food, it is intended to fulfill the unique omega-3 and phospholipid requirements of illnesses associated with cardiometabolic disorders.

Onemia™ will be formulated in a hard gelatin capsule to be taken alone or in combination with currently approved and prescribed cardiovascular drugs administered only under physician supervision and dispensed by medical recommendation and in some cases by prescription, in compliance with applicable FDA regulations. Onemia™ will be manufactured by Neptune and sold to Acasti.

Onemia™ targets cardiometabolic disorders and will be well positioned in this multibillion dollar market. Onemia™ will first be distributed through a unique subcontracted marketing and direct sale approach focused in most major metropolitan areas in the U.S. and move nationwide in a second phase. Onemia™ will later be available in pharmacies behind-the-counter through distributors. Acasti is also currently seeking partners to commercialize Onemia™ outside the United States.

Cardiometabolic disorders are considered among the leading health problems worldwide arising from the combined impact of obesity and cardiovascular disease. According to the American Heart Association 2006 to 2010 statistical fact sheets updates, 102 million Americans have been diagnosed with hyperlipidemia, 34 million with low HDL (good cholesterol), 17 million with coronary artery disease and 145 million are overweight or obese. Amongst others, these cardiometabolic risk factors lead to 1.2 million new myocardial infarctions diagnosed each year of which only 1 of 3 survive. According to the 2009 Heart Disease and Stroke Statistics Update, the estimated direct and indirect costs of cardiovascular disease and stroke in the United States totaled USD 475 billion of which, USD 52 billion was spent only on medications.

"With the launch of Onemia™ both Neptune and Acasti enter the pharmaceutical arena directly through physicians who will recommend it for the therapeutic management of chronic illnesses/conditions. Acasti will now work with physicians through an outsourced task force facilitating the supply of Onemia™ directly to the patients via online pharmacy outlets based in the United States," said Pierre Lemieux, Ph.D., C.O.O. of Acasti.

"Acasti`s continuous achievements including the present launch of its first medical food will instigate the exercise of actual outstanding warrants which, as initially planned, will contribute to the Company`s financial requirements along with the early revenues earned from the commercialization of its pharmaceuticals, starting with Onemia™," said Xavier Harland, CFA, Financial Director of Acasti.

"True to our initial strategy Acasti has met yet another pivotal milestone with the timely launch of our first medical food in the pharmaceutical market. The success of Onemia™ will provide short-term revenues which will contribute to Acasti's further research and development projects while establishing a validation of Acasti's omega-3:phospholipid pipeline in the healthcare industry paving the road for CaPre™, our prescription drug candidate in development," declared Tina Sampalis, M.D., Ph.D., President. "Contrary to the usual biotechnology constant need for external financing imposed by drug development, Acasti intends to self-finance a substantial part of its internal operations and R&D expenditures by early commercialization of its medical food and fixed dose combination over the counter products in partnership with major pharmaceutical companies. Onemia™ is the first of a line of products Acasti will commercialize in the near future," she added.

SOURCE Neptune Technologies & Bioressources Inc.