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OMRIX BIOPHARMACEUTICALS ANNOUNCES NEW PRODUCT DEVELOPMENT PLAN.
(Full text of a statement. Contact details below.)
NEW YORK--(BUSINESS WIRE)--Sept.
29, 2006--OMRIX Biopharmaceuticals, Inc.
("OMRIX" or the "Company") (NASDAQ: OMRI), a commercial-stage biopharmaceutical company that develops and markets biosurgical and antibody-based products, today announced two new strategic product development programs in anti adhesion and spine utilizing its fibrin sealant technology.
Development milestones include the submission of an IND/IDE (Investigational New Drug/Investigational Device Exemption) submission in December 2006 for the anti adhesion product followed by and IND filing for the spinal product.
Both products are being developed solely by OMRIX.
"Our decision to undertake two new product development programs reflects the Company's business strategy to pursue additional indications and develop product extensions for our existing products," stated Robert Taub, President and Chief Executive Officer.
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