Cyplasin Announces Hepatitis C License Assignment from Virionics Corporation

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http://www.newswire.ca/en/releases/archive/January2010/13/c8282.html

Cyplasin Announces Hepatitis C License Assignment from Virionics Corporation

CPBM: OTCBB

EDMONTON, Jan. 13 /CNW/ - Cyplasin Biomedical (CPBM: OTCBB), a specialty

pharmaceutical company focused on hepatitis prevention and anti-viral therapies,

has signed an agreement effective December 29, 2009 which transfers an exclusive

worldwide license for a patented hepatitis C viral vaccine and other

technology/know-how to Cyplasin. The technology had originally been licensed

from the National Institutes of Health (NIH) by Virionics Corporation, a

sdale, Arizona-based biotech company.

Cyplasin will now be responsible to the NIH for the license obligations granted

at the same terms as the original Virionics exclusive worldwide license. The

vaccine license will become the core technology for the Company and is entitled

" Synthesis and Purification of Hepatitis C Virus-Like Particles " (US patent

number 6,387,662) which was invented by Dr. Jake Liang and Dr. Baumert at

the NIH. The US patent issued May 14, 2002 and the European patent issued in

2008.

As Cyplasin began the transformation into a hepatitis-focused company, Cyplasin

entered into a sub-license agreement with Virionics for the hepatitis C vaccine

technology. " However, as further due diligence was undertaken, it became obvious

Virionics offered more product opportunities than just the vaccine project and

we agreed to enter into merger discussions, " stated Garth Likes, President and

CEO of Cyplasin. Dr. ph Sinkule, Founder and CEO of Virionics stated, " It

made sense for us to assign the technology to Cyplasin and proceed with the

development of the hepatitis C vaccine there in. " The license assignment also

gives Cyplasin access to other multiple patents and the previously announced

sub-license and RTO/merger discussions are cancelled effective as of December

29, 2009.

Moving Forward - Next Steps

Mr. Likes said, " Now that we have secured the license we will move forward with

our business plan which is based on a two prong strategy; 1) to generate a

revenue stream from the regulatory approvals and sales of the main standard of

care hepatitis C therapies (Ribavirin and pegylated alpha-interferon), and 2) to

develop and find strategic partners to help in the commercialization of the

vaccine which uses the virus-like particle (VLP) technology from the NIH

license. " Cyplasin will change its name to " C-Pharma, Inc. " in 2010 and will we

begin the process of regulatory submissions of a novel Ribavirin formulation. It

is anticipated Ribavirin revenues from countries outside of North America, the

EU and other main markets can be obtained in 2011, whereby market authorizations

to sell the product in the U.S., Canada, and the EU should be granted in 2012.

The timeline for development and market launch of the pegylated alpha-interferon

will subsequently follow dependent upon Corporate resources and

commercialization activities.

To date, there has been over $10 million spent on the development of the

hepatitis C vaccine and the submission of an IND for a Phase I clinical trial is

planned for 2011. Cyplasin will enlist the services of Dr. Sinkule to oversee

product development of the antiviral drugs and the vaccine, as well as Dr. Jake

Liang, a renowned hepatitis clinician and researcher from NIH to serve as

Chairman of the Scientific Advisory Board. Dr. Sinkule stated, " The opportunity

presented in working with Dr. Liang and the Cyplasin management team is truly

unique, and we are all very excited to be bringing these important products to

the global marketplace. "

Forward Looking Statements

This news release contains " forward-looking statements " , as that term is defined

in Section 27A of the United States Securities Act of 1933 and Section 21E of

the Securities Exchange Act of 1934. Statements in this current report which are

not purely historical are forward-looking statements and include any statements

regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking

statements due to numerous factors. Such factors include, among others, the

inherent uncertainty of financial estimates and projections, the competitive and

regulatory environments, stock market conditions, unforeseen technical

difficulties and our ongoing ability to operate a business and obtain financing.

These forward-looking statements are made as of the date of this news release,

and we assume no obligation to update the forward-looking statements, or to

update the reasons why actual results could differ from those projected in the

forward-looking statements.

Although we believe that our beliefs, plans, expectations and intentions

contained in this current report are reasonable, there can be no assurance that

such beliefs, plans, expectations or intentions will prove to be accurate.

Investors should consult all of the information set forth herein and should also

refer to the risk factors disclosure outlined in our quarterly reports on Form

10-Q and our other periodic reports filed from time-to-time with the Securities

and Exchange Commission pursuant to the Securities Exchange Act.

For further information: or to register on the company web site to receive

investor packages and updates please visit http://site.c-pharma.net/Contact. or

contact: Garth Likes, President/CEO, Unit 131 Advanced Technology Center,

9650-20th Ave., Edmonton, Alberta, Ph: (780) 990-4539, Email:

glikes@...; Roderick Christie, Investor Relations, Ph: (702) 490-0481,

Email: rwmcconsulting@...