Stirling Products Limited (ASX:STI)
Sydney, May 26, 2009 AEST (ABN Newswire) - Australian healthcare company Stirling Products Limited (ASX:STI) is pleased to announce another milestone in the expansion of the licensed (pending joint venture approval) botanical products to markets outside of Ukraine. Immunoxel (Dzherelo) has been granted approval in South Africa. This approval will allow immediate sales of the phytoconcentrate as an immune adjuvant for TB and HIV treatment.
Immunoxel (as Dzherelo) is now classified under the complementary medicines category by the Medicine Control Council (MCC) of the Department of Health of the Republic of South Africa.
Negotiations will now proceed with potential partners to initiate product marketing throughout South Africa.
Earlier this year Immunoxel was approved in its first Asian market country, Mongolia, where product sales commenced last month.
Immunoxel has been shown to be safe and very effective in a variety of clinical conditions including but not limited to seasonal flu, influenza, acute respiratory infections, TB, hepatitis, HIV, autoimmune conditions, and malignancies.
Drug-resistant TB is on the rise throughout the world and is most frequently seen in the countries of the former Soviet Union, Asia, throughout the African continent and especially South Africa.
Conventional TB chemotherapy success rates are significantly lower in patients with Multi Drug Resistant (MDR) TB and Extensively Drug Resistant (XDR) TB. Recent US Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO) surveys indicate that in the worst-affected countries, 10% of MDR-TB cases were XDR-TB. Current treatment of drug resistant TB can take up to 18-24 months. The disease is difficult and expensive to treat and outcomes are frequently poor. No significant new class of anti-TB drugs has been introduced in past 40 years and existing drugs are practically useless against advanced drugresistant TB.
Mr. Volodymyr Pylypchuk, Director of Ekomed the Company's Licensor, commented: "South Africa is burdened by one of the worst tuberculosis and HIV epidemics in the world. Our commercial partner Zodiac Capital has been working diligently and we are very excited to announce that that their effort paid off. Our Immunoxel works through completely novel immune mechanism and to the best of our knowledge is the only and most effective adjuvant to TB and AIDS drugs. The approach that we have developed drastically shortens treatment duration and can save countless lives right now. Our clinical studies conducted in Ukraine during last ten years have shown convincingly that we can offer reliable, cost-effective solutions to the global TB and HIV crisis."
Immunoxel is one of 26 phytopharmaceutical (botanical) products being commercialised globally under a Zodiac Capital Limited License Agreement that, subject to shareholder approval at a meeting scheduled for 29 May 2009, the Company has agreed to joint venture with Zodiac Capital Limited as has previously been advised to the market.
Contact
Peter Boonen
Managing Director
Stirling Products Limited
Ph: +61 2 9299 9270
E: peter.boonen@stirlingproducts.net
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