VANCOUVER, B.C. (March 22, 2004) — Biotech Holdings Ltd. is nearing completion of its Sucanon drug production facility here, according to Robert Rieveley, company president. Sucanon is a new drug intended for treatment of symptoms of Type II diabetes and a related condition, impaired glucose tolerance.
Biotech Holdings said it received regulatory approval for sale of the drug in Mexico and Peru as a treatment of Type II diabetes symptoms. The company also said it plans to make regulatory applications for Sucanon in Chile, Venezuela, Columbia and Argentina.
“We have acquired all of the pharmaceutic processing machinery and equipment necessary for the production of Sucanon active ingredients and are progressing as planned with installation and related work at our production facility,” Rieveley said.
Inventory is now being ordered for production of the active ingredients for Sucanon, with Sucanon production slated to begin in April, he said. Rieveley is expected to travel to Mexico this week to finalize marketing plans.
The drug is an insulin-receptor sensitizer, a new class of drugs forcontrolling the chronically high blood sugar levels that typify diabetes. Thedrug, in tablet form, is intended to improve patients’ ability to utilize insulin,the hormone that controls blood sugar levels.
Type II diabetes affects more than 150 million people worldwide, including more than 17 million people in North America and some 20 million people in Latin America.
Biotech Holdings head office is in Richmond, British Columbia.
