Biotec Betaglucans signs evaluation agreement with Smith & Nephew

Biotec BetaGlucans AS, a wholly-owned subsidiary of Biotec Pharmacon ASA, today announces that  it has signed an agreement with Smith & Nephew plc (LSE: SN, NYSE: SNN) to cooperate on a market evaluation of Woulgan® Biogel.

Woulgan® Biogel is a new bioactive treatment for use on chronic wounds. It has successfully completed phase II trials and is expected to attain CE mark in 2013. At this point Biotec BetaGlucans and Smith & Nephew will conduct a market evaluation of the product in a limited number of centres across Europe.

“We are very enthusiastic about working closely with a world leader in advanced wound care for this important phase in the commercialization of Woulgan® Biogel,” says Svein Lien, CEO of Biotec Pharmacon ASA.

Until – and during the trial period, S&N will have an exclusive, non-transferable, non-sublicensable right to the BBG Technology linked to fulfillment of agreed commitments between the Parties.

Enquiries:

Biotec Pharmacon ASA:

Svein Lien (+47) 92289323  svein.lien@biotec.no

About Biotec Pharmacon and Woulgan® Biogel

Biotec Pharmacon is a biopharmaceutical company developing and manufacturing new immunomodulatory products in Biotec BetaGlucans AS and cold adapted marine enzymes in ArcticZymes AS. Biotec BetaGlucan’s novel Woulgan® Biogel for wound treatment contains the company’s proprietary compound SBG® (Soluble Beta Glucan), which enhances the wound healing ability. Woulgan® Biogel is a sterile, homogenous, viscous biogel containing water, glycerol, 2 % SBG®, and carboxymethylcellulose. The product does not contain preservatives. Woulgan® Biogel is indicated for a single patient, single use as a primary dressing for dermal wounds including diabetic ulcers, pressure ulcers, leg ulcers, graft and donor sites, postoperative surgical wounds (dermal lesions, trauma injuries or incisions), 1st and 2nd degree burns, abrasions and lacerations.

About Smith & Nephew

Smith & Nephew is a global medical technology business dedicated to helping improve people's lives.  With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma, Smith & Nephew has almost 11,000 employees and a presence in more than 90 countries. Annual sales in 2011 were nearly $4.3 billion.  Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).