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TORONTO, ONTARIO, CANADA – March 30, 2006 –
IntelliPharmaCeutics Ltd., a Delaware Corporation (the “Company”), today
announced that Health Canada has advised that IntelliPharmaCeutics Corp.,
the Canadian operating affiliate of the Company, is to be approved for a
Compliance rating from Health Canada, following successful inspection of its
Toronto testing laboratory premises and procedures by the Health Products
and Food Branch Inspectorate.
This rating will permit IntelliPharmaCeutics
Corp. to perform drug testing and analysis services on the drug products of
its own and of third parties under certified GLP conditions. This represents
another major step in the full certification of the testing and
manufacturing premises of IntelliPharmaCeutics Corp. as both GLP and cGMP
compliant. When that process is complete, IntelliPharmaCeutics Corp. will
have total control of the entire drug development process in fully certified
facilities right through to the manufacture of clinical and commercial
batches of its drug products pipeline. The resultant streamlining of these
aspects of drug development will permit the fastest possible market entry
for IntelliPharmaCeutics’ pipeline and partnered products.
About IntelliPharmaCeutics
IntelliPharmaCeutics is a drug delivery innovator and
developer, specializing in the controlled and targeted
once-a-day delivery of oral, solid dose pharmaceutical
products. It operates from a 25,000 sq ft research
laboratory and manufacturing scale-up facility located
adjacent to Toronto International Airport. The Company
utilizes proprietary, patented and proven drug delivery
technologies, to formulate both generic and new drug
products with enhanced performance characteristics. In
addition to its pre-clinical portfolio,
IntelliPharmaCeutics has an extensive pipeline of
development products in clinical trials, in therapeutic
areas that include neurology, cardiovascular, GIT, pain
and infection. For more information about
IntelliPharmaCeutics, visit the Company's web site at
www.intellipharmaceutics.com
This news release contains forward-looking statements,
including those related to the preliminary nature of the
clinical program results and the potential for further
product development, that involve known and unknown risks,
delays, uncertainties and other factors not under the
control of IntelliPharmaCeutics, which may cause actual
results, performance or achievements of the Companies to
be materially different from the results, performance or
other expectations implied by these forward-looking
statements. In particular, because substantial future
clinical testing and regulatory review will be required
prior to marketing approval, there can be no certainty
that a successful commercial product will be developed.
These risks and other factors, including the timing or
results of pending and future clinical trials, regulatory
reviews and approvals by the Food and Drug Administration,
and intellectual property protections and defenses, are
discussed in the Companies' filings with the Securities
and Exchange Commission such as the 10K, 10Q and 8K
reports. The Companies undertake no obligation to update
any forward-looking statements. |
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