Acasti Pharma Provides Update After Explosion at Neptune's Plant
13 November 2012 - 5:49AM
Acasti Pharma Inc. ("
Acasti") (TSX-V:APO), a
Neptune Technologies & Bioressources Inc.
("
Neptune") subsidiary, regrets to report that in
the afternoon of November 8, 2012, an explosion and fire destroyed
Neptune's production plant located in Sherbrooke, Québec, Canada.
Three employees were fatally injured. Eighteen other people were
transported to the hospital, four of whom were severely burned. An
investigation is underway to determine the cause of the explosion
and fire, which according to preliminary reports affected, amongst
other things, some acetone reserves used by Neptune for its krill
oil extraction process.
Acasti expresses its condolences to all affected by this tragic
event. "Our hearts are greatly traumatized by this horrible
catastrophe that will remain in our minds forever. Our thoughts are
with our colleagues and their families" stated Mr. Henri Harland,
President and Chief Executive Officer of Acasti.
Albeit this tragic event, Acasti expects that its day-to-day
operations and business will not be interrupted. CaPre®, Acasti's
lead prescription candidate, is currently being evaluated in two
Phase II clinical trials, for which all required material had
already been produced. Both CaPre® and Onemia™, Acasti's product
marketed in the United States as a "medical food," are being
processed and stored in U.S. facilities outside Neptune's affected
plant. "This means that inventories of CaPre® and Onemia™ are
adequate, that therefore the market supply of Onemia™ will continue
as planned and that the ongoing clinical trials on CaPre® will not
be interrupted as a result of this event. The clinical development
for CaPre® will continue as planned, in accordance with Acasti's
business strategy," commented Pierre Lemieux, Ph., C.O.O.
Acasti did not derive any of its revenues from the sale of
products manufactured at the Sherbrooke plant, but will continue to
be dependent on the support of Neptune as its controlling
shareholder.
Acasti Pharma website: www.acastipharma.com
About Acasti Pharma Inc. (TSX-V:APO)
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the major
component of cell membranes and are essential for all vital cell
processes. They are one of the principal constituents of High
Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by potent antioxidants. Acasti Pharma is focusing initially on
treatments for chronic cardiovascular and cardiometabolic
conditions within the over-the-counter, medical food and
prescription drug markets.
About Neptune Technologies & Bioressources
Inc. (Nasdaq:NEPT) (TSX:NTB)
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 20
countries worldwide.
"Neither NASDAQ nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995 and Canadian securities laws. Such forward-looking
statements involve known and unknown risks, uncertainties, and
other unknown factors that could cause the actual results of the
Company to be materially different from historical results or from
any future results expressed or implied by such forward-looking
statements. In addition to statements which explicitly describe
such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects,"
"intends," "anticipates," "will," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's reports filed with
the Securities and Exchange Commission and the Canadian securities
commissions.
CONTACT: Acasti Contact:
Xavier Harland
Chief Financial Officer
+1.450.687.2262
x.harland@acastipharma.com
www.acastipharma.com
Howard Group Contact:
Dave Burwell
+1.888.221.0915
dave@howardgroupinc.com
www.howardgroupinc.com
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