Full Press Release Details
NEPHROS ENTERS INTO HEMODIAFILTER MANUFACTURING AND
DISTRIBUTION RIGHTS AGREEMENT WITH ASAHI KASEI MEDICAL
New York--- March 2, 2005--Nephros, Inc. (AMEX: NEP) today announced it has
entered into an agreement with Asahi Kasei Medical Co., Ltd., a business unit of
Asahi Kasei Corporation, granting Asahi Kasei Medical exclusive rights to
manufacture and distribute filter products based on the Nephros OLpur (TM) MD190
hemodiafilter in Japan for 10 years. In addition to an initial license fee,
royalties and milestone payments, Asahi Kasei Medical will make an investment in
Nephros common stock. Asahi Kasei Medical is the leading provider of dialysis
filters in Japan and one of the three largest dialyzer providers in the world.
The announcement was made by Nephros CEO Norman Barta.
"OLpur(TM) MD190 technology coupled with our state-of-the-art
hollow-fiber technologies will result in a hemodialyzer filter product that
further contributes to the quality of life of ESRD patients in Japan, whose
numbers exceed 230,000," says Kenji Nakamae, President of Asahi Kasei Medical.
The OLpur(TM) MD190 is an advanced proprietary cartridge that refines the
process of hemodiafiltration by combining two forms of therapy known as
post-dilution and pre-dilution diafiltration into a single filter. As a result,
the OLpur(TM) MD190 combines the superior clearance of small molecular weight
toxins (such as urea) attributed to post-dilution hemodiafiltration with the
superior clearance of middle-molecules (such as Beta 2 microglobulin (b2m))
associated with pre-dilution hemodiafiltration. The OLpur (TM) MD190 is designed
for use with existing hemodiafiltration machines, has received CE marking, and
is currently in sales in Europe. Japanese filter sales are subject to regulatory
approval in that country.
"Asahi is one of the major global forces in this marketplace. We feel
Asahi's decision to manufacture and distribute hemodiafilters based on the
OLpur(TM) MD190 technology in Japan is an important validation of our product
design," says Mr. Barta.
"I believe hemodiafiltration offers a substantially better modality for
ESRD therapy over hemodialysis. Studies show that patients on hemodiafiltration
have fewer complications and hospitalizations, require fewer drugs and live
longer," says Eric A. Rose, M.D., Chairman, Department of Surgery at
NewYork-Presbyterian Hospital/Columbia University Medical Center,
and Chairman of the Board of Nephros. "I believe the Nephros mid-dilution
technology provides an elegant means to really maximize performance in the
hemodiafiltration realm."
Nephros, Inc., headquartered in New York, is a medical device company developing
and marketing products designed to improve the quality of life for the End Stage
Renal Disease (ESRD) patient, while addressing the critical financial and
clinical needs of the care provider. ESRD is a disease state characterized by
the irreversible loss of kidney function. Nephros believes that its products
remove a range of harmful substances more effectively, and more
cost-effectively, than existing treatment methods; particularly with respect to
substances known collectively as "middle molecules", due to their molecular
weight, that have been found to contribute to such conditions as carpal tunnel
syndrome, dialysis related amyloidosis, degenerative bone disease, and
ultimately, to mortality in the ESRD patient.
About Asahi Kasei Medical Co., Ltd.
Asahi Kasei Medical, headquartered in Tokyo, Japan, is a world leader in the
research, development, and production of devices and systems for extracorporeal
blood treatment and purification based on advanced membrane separation and
absorption technologies. It serves the global market with a wide variety of
innovative products to help meet the needs of dialysis patients and clinical
staff. Asahi Kasei Medical is a business unit of Asahi Kasei Corporation, a US$7
billion technology company that provides innovative, science-based solutions to
a diverse range of markets including chemicals and plastics, apparel, housing
and construction, healthcare, and electronics. For additional information on
Asahi Kasei Medical, visit www.asahi-kasei.co.jp/medical/en/.
Forward Looking Statements
This news release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements, including statements regarding the efficacy and intended utilization
of Nephros's technologies under development, are not guarantees of future
performance, are based on certain assumptions and are subject to risks and
uncertainties, many of which are beyond the control of Nephros. Actual results
may differ materially from the expectations contained in the forward-looking
statements. Factors that may cause such differences include the risk that
potential products that appeared promising in early research or clinical trials
to Nephros do not demonstrate efficacy or safety in subsequent pre-clinical or
clinical trials, and the risk that Nephros will not obtain appropriate or
necessary governmental approvals to market products. More detailed information
about Nephros and the risk factors discussed above is set forth in Nephros'
filings with the Securities and Exchange Commission, including Nephros's
Quarterly Report on Form 10-QSB filed with the SEC on November 15, 2004.
Investors and security holders are urged to read such document free of charge at
the Commission's web site at www.sec.gov. Nephros does not undertake an
obligation to publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise.