LEWISTON, N.Y., Dec. 2, 2004 (PRIMEZONE) -- LAM Pharmaceutical, Corp. (OTCBB:LAMP) (Frankfurt:LAM) (Berlin:LAM), a biomedical company focused on the development and commercialization of novel wound healing and transdermal drug delivery systems, announced today that it has received its first commercial order from China for IPM Wound Gel(tm). The order, valued at US$80,000, was placed by LAM's distribution partner, Sinopharm Group, as a direct result of the strong reception received at the recent China International Equipment Fair (CMEF) in Kunming.
Mr. Hongchuan Liu, a Director of the Sinopharm Group, noted, "This first order represents the culmination of the dedicated efforts of the combined marketing and distribution network team we are assembling in China. We are delighted to see the U.S. FDA approved and Chinese SFDA approved LAM IPM Wound Gel(tm) entering into the commercial sales phase here in China."
Mr. Dongze Huangfu, a senior executive within Sinopharm's distribution network, stated, "As we place our first commercial order, we would like to emphasize our commitment to LAM IPM Wound Gel(tm). The Gel provides an innovative solution to the Chinese healthcare system for healing diabetic ulcers and other hard-to-heal wounds."
Mr. Joseph Slechta, President and Chief Executive Officer of LAM, added, "I would like to reiterate the comments of our Chinese partners. We have all worked very diligently during the last year to complete the regulatory approval process in China and to develop a marketing program for our Gel in China. We are confident that our wound healing product will be well accepted by both the Chinese medical professionals and patients alike."
About LAM Pharmaceutical, Corp.
LAM Pharmaceutical, Corp., www.lampharm.com, is a biomedical company with laboratories in Lewiston, New York, and a business office in Toronto. LAM focuses on the development and commercialization of novel wound healing and transdermal drug delivery systems that offer patients, among other benefits, safer and more effective treatment for a variety of serious diseases. The technology is based on an original LAM Ionic Polymer Matrix(tm) technology (LAM IPM(tm)), a proprietary and patented combination (a total of 15 U.S. issued and approved patents) of electrically charged and non-charged molecules with wound-healing properties. LAM IPM(tm) technology is also appropriate for use with well-established drugs, allowing for the sustained delivery of greater amounts to the target areas than is otherwise possible by oral means, thus prolonging therapeutic activity.
About Sinopharm Foreign Trade Ltd.
Sinopharm Foreign Trade, Ltd., www.sino-pharm.com, a wholly owned subsidiary of China National Pharmaceutical Group Corp., was established in 1998 to deal in both Chinese and western pharmaceutical products, medical devices and pharmaceutical and chemical materials.
Statements in this press release regarding our business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to uncertainties relating to the need for additional funds and corporate partners, product liability, dependence on third parties for manufacturing and marketing, the early stage of products being marketed or under development, patent risk and competition.
LAM Ionic Polymer Matrix(tm), LAM IPM(tm) and IPM Wound Gel(tm) are trademarks of LAM Pharmaceutical, Corp. LAM IPM Wound Gel(tm) is protected by one or more of the following patents: 5,897,880; 6,120,804; 6,007,843; 6,063,405.