Announcements

Execution of Royalty Agreement with ULM

13th January, 2009

On 25th May, 2007, an Agreement was entered into with the University of Louisiana at Monroe (ULM) to conduct scientific research to develop novel cancer chemopreventive agents using natural phytonutrients, called tocotrienols as treatments for breast cancers.  Tocotrienol is found naturally in relatively high concentrations in palm oil and has been shown by previously rigorously-conducted scientific research to be potent anticancer agents without affecting normal cell growth and vitality.

The integrated research programme resulting from the Agreement – which is known as the Breast Cancer and Health Project – has been underway for 14 months and involves four laboratories in the College of Pharmacy, ULM.  The project is lead by Dr. Paul W. Sylvester who is a world-renowned expert in the anticancer activity of tocotrienols and a specialist in the chemoprevention and treatment of breast cancers.

On the 18th December, 2008, the term of the Agreement with ULM was extended with the result that the research work involved in the Breast Cancer and Health Project will continue through December 2010.

Under this Agreement with ULM as extended, all patents and other items of intellectual property generated or otherwise arising from the Breast Cancer and Health Project, are owned by the Company and its partner, subject to the payment to ULM and the “Creator Group” of a minimum 5% Royalty calculated on the recommended retail price of any resulting commercialized product/s.  The “Creator Group” comprises 4 Vice Professors of the College of Pharmacy, ULM and includes the leader, Dr. Paul W. Sylvester as aforesaid, and the other 3 heads of the ULM laboratories involved in the project.

On the 13th January, 2009 a formal Royalty Agreement was executed by the Company, ULM and the four individual members of the Creator Group relating to the commercial arrangements in respect of the intellectual property arising from the research and the payment of the agreed Royalty to ULM and the members of the Creator Group as recited above.

The Company believes that the signing of the Royalty Agreement with ULM and the members of the Creator Group as aforesaid signifies the confidence which all parties have in the future of the Breast Cancer and Health Project and their acceptance of the commercial terms in respect of the intellectual property arising from the research and royalty rights which have been negotiated in respect of project.

Beta Pharmaceutical Limited focuses on research and development of effective treatments for breast cancers.

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