Phoenix, United States
Zila, Inc. (Nasdaq GM: ZILA) reported on Wednesday that it has acquired the rights to manufacture and distribute ViziLite(R) in the Pacific Rim from President Medical Technologies, Inc., a Taiwanese company. This transaction completes the evolution of Zila from a licensee of the ViziLite technology to one of sole owner of all ViziLite rights, including the underlying patented technology and world-wide distribution.
Zila is executing its plan to establish ViziLite Plus as the new standard of care in oral cancer detection. ViziLite Plus is the most advanced technology on the market for the early detection of oral abnormalities that could lead to cancer. Zila's next generation oral cancer diagnostic product, OraTest, is currently proceeding through a Phase III clinical trial.
"Oral cancer is a prevalent and deadly disease within the Pacific Rim. This transaction paves the way for strategic alliances for the distribution of our cancer detection products within the Pacific Rim. It is our goal to establish ViziLite Plus as the standard of care, not only in dental offices across the United States, but ultimately around the world," stated Zila Chairman, CEO and President, Douglas Burkett, Ph.D.
In a separate release yesterday, Zila announced its plan to acquire Professional Dental Technologies ("Pro-Dentec(R)") in order to strengthen the Company's ability to market and sell its oral cancer detection products in the United States.
About Oral Cancer
Oral cancer is among the most deadly cancer types globally, largely owing to the fact that roughly two-thirds of all oral cancers are detected at advanced stage. When oral cancer is detected early, survival rates are about 80%; detected late, the survival rate falls to 20%. The American Dental Association says that while most cases of oral cancer affect people who use tobacco and/or drink heavily, more than a quarter of oral cancers occur in people who do not smoke and have no other risk factors.
About Zila, Inc.
Zila, Inc., headquartered in Phoenix, is a leading cancer diagnostic company initially focused on oral cancer:
-- Zila Pharmaceuticals is dedicated to establishing ViziLite(R) Plus as the new standard of care for the early detection of oral abnormalities that could lead to cancer.
-- Zila Biotechnology is focused on achieving regulatory approval for the next generation oral cancer diagnostic, OraTest(R), followed by the development of additional applications of its cancer detection technologies including products for the early detection of cervical and esophageal cancer.
For more information about Zila, visit www.zila.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on Zila's expectations or forecasts of future events, can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the Company's control. Therefore, actual results could differ materially from the forward-looking statements contained herein. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. There can be no assurance that the forward-looking statements contained in this press release will, in fact, transpire or prove to be accurate. For a more detailed description of these and other cautionary factors that may affect Zila's future results, please refer to Zila's Form 10-K for its fiscal year ended July 31,2006.
CONTACT: Zila, Inc. Andrew Stevens 602-266-6700 or The Investor Relations Group Investor Relations: Antima ""Taz"" Sadhukhan/Dian Griesel 212-825-3210 or Media: Bill Douglass 212-825-3210
CONTACT: Zila, Inc. Andrew Stevens 602-266-6700 or The Investor Relations Group Investor Relations: Antima ""Taz"" Sadhukhan/Dian Griesel 212-825-3210 or Media: Bill Douglass 212-825-3210 , ,
Source: Business Wire (Business Wire India)