2003 Press Releases Communiqués de presse
Pheromone Sciences Corp. Announces that Rights Offering Does Not Hit Minimum Levels
Pheromone Sciences Corp Announces Rights Offering
Pheromone Successfully Completes Dairy Cow Fertility Monitoring Study
Pheromone Sciences Signs Chinese Distribution Agreement
Pheromone Sciences Issued U.S. Patent on Pheromone's Sensing and Reporting Technology
Pheromone Sciences Enters Advanced Dairy Testing
Pheromone Sciences Appoints Jim Wooder to Board of Directors
Pheromone Sciences Corp. Completes Private Placement Offering
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Press Release Communiqué de presse - December 16, 2003 16 December, 2003
Pheromone Sciences Corp. Announces that Rights Offering Does Not Hit Minimum Levels
Toronto, Ontario - December 16, 2003 -
Pheromone
Sciences Corp. (TSX-V: PHS) today announced
that its
Shareholder Rights Offering, which expired on
December
12, 2003, has not raised the minimum gross
proceeds of
$285,000.
Accordingly, the Company will not be accepting
subscriptions to acquire common shares
pursuant to the
exercise of rights and will return any subscription
funds
received to subscribers without interest. The
company is
scaling down its operations to conserve available
cash
while it aggressively pursues other financing
options with
a view to sustain the Company to pursue
promising
options to achieve licensing and
commercialization of its
Fertility Monitor product.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human reproduction and sexuality.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
INVESTOR CONTACT
Lorne Woods
(800) 937-3095
investor@pheromonesciences.com
www.pheromonesciences.com
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Press Release Communiqué de presse - November 10, 2003 10 November, 2003
Pheromone Sciences Corp Announces Rights Offering
Toronto -- November 10, 2003 --
Pheromone
Sciences Corp. (TSX Venture: PHS) --
Pheromone
Sciences Corp. ("Pheromone" or the "Company")
today
announced that it will be conducting a Rights
Offering in
which it will issue to holders of its outstanding
common
shares as of November 20, 2003 one Right for
each
common share held. Every four Rights will entitle
shareholders resident in British Columbia,
Alberta,
Manitoba and Ontario (the "Qualifying
Jurisdictions") to
subscribe for one common share of Pheromone
at a
subscription price of $0.11 at anytime on or prior
to
December 12, 2003. Rights of shareholders
resident
outside the Qualifying Jurisdictions will be held
by CIBC
Mellon Trust Company who will attempt to sell
such Rights
at such prices and otherwise in such manner as
it may
determine in its sole discretion. The Rights will be
listed
and posted for trading on the TSX Venture
Exchange.
Minimum gross proceeds of $285,000 are
required to be
raised through this Rights Offering to continue
the
Company as a going concern beyond December
31, 2003.
"The company needs working capital while we
are in
discussions with several potential
commercialization
partners for our PSC Fertility Monitor(�) .
We
remain
enthused with our current technology and the
company's
prospects as described in the offering circular",
said
Christopher Neuman, President and CEO,
Pheromone
Sciences.
In recognition of the financial position of the
Company and
in consideration of the Chief Executive Officer
and the
Chief Financial Officer waiving any entitlement to
severance or termination pay on termination of
employment or to accrued vacation pay, and as
an
inducement to both officers, the Company has
granted to
these individuals, subject to regulatory approval,
the right
to earn a bonus payable in common shares of
the
Company. The Chief Executive Officer can earn
1,000,000
shares and the Chief Financial Officer can earn
600,000
shares if one of several milestones are achieved
by
March 1, 2004, including, the Company entering
into a
licensing agreement or other commercialization
agreement for its PSC Fertility Monitor(tm), or a
financing
for gross proceeds of a minimum of $1 million or
a sale or
merger of the Company.
For further information with respect to the Rights
Offering
please contact Christopher Neuman, President
and Chief
Executive Officer or Larry Cooper, Chief
Financial Officer
at 416-861-9854.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human and animal reproduction.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
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Press Release Communiqué de presse - August 11, 2003 11 August, 2003
Pheromone Successfully Completes Dairy Cow Fertility Monitoring Study
Toronto, Ontario (August 11, 2003) --
Pheromone
Sciences Corp (TSX: PHS), today announced that
it has
successfully completed its first field trial of its
proprietary
fertility and ovulation detection technology for
large animal
breeding at the Ontario Veterinary College under
the
direction of Dr. Walter H. Johnson DVM, MVSc,
Dipl. ACT,
and Professor of Theriogenology at the
University of
Guelph.
The trial, which used devices designed for
human wear
comprised enrolling 55 cows as registered
subjects with a
view to evaluating the sensors ability to detect
hormone-
related changes indicative of heat. Adequate
sensor data
as well as complete progesterone and
ultrasound records
were obtained in 32 of these subjects that
reflected a 58%
operational trial enrollment completion success
rate.
The trial's endpoint results coupled with the
simulation
derived from proposed changes to the computer
algorithm
suggest that the Company's ability to adapt its
proprietary
Fertilit�©-OVâ�¢ Monitor technology to
the
specific
physiology of the dairy cow in the dairy farm
environment,
can meet a success level, defined as the correct
prediction
of oncoming estrus, of 60%. Additional feasibility
trials will
be undertaken to further study and confirm this
anticipated
success rate upon implementation of the
changes to the
computer algorithm. The actual "window of
opportunity"
for dairy cow breeding would be predictions of
ovulation -
-2 days to 0 days before ovulation, a recognized
requirement for successful breeding.
"These results compare very favorably to those
rates
achieved with current technologies available to
the small
and large scale dairy farmer," commented Dr.
Johnson.
"We are very pleased that this collaboration with
the
scientific staff of Pheromone Sciences, continues
to build
momentum. "A product that can increase
conception rates
in dairy herd breeding would positively impact
productivity
on dairy farms across North America", Dr.
Johnson
added.
Dairy industry researchers estimate that within
the North
American dairy industry U.S. producers incur
revenue
losses directly attributable to inefficient herd
reproduction
management of approx. US$400 million per
annum. The
ability to provide accurate monitoring of the
fertility status
of commercial livestock would afford a significant
commercial opportunity for both the agricultural
community and Pheromone Sciences Corp.
"We are enthusiastic about the results from this
trial at the
Ontario Veterinary College. We were pleased to
be able to
identify parameters which will help adapt the
technology
to the farm environment," said Doug Marett,
Pheromone
Sciences Chief Scientific Officer. "We will now
look to
optimize the design as part of the process of
bringing this
product to the commercialization stage in the
future.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human and animal reproduction.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
INVESTOR CONTACT
Lorne Woods
1-(800) 937-3095
investor@pheromonesciences.com
www.pheromonesciences.com
Share the news Partagez les nouvelles
Press Release Communiqué de presse - August 05, 2003 5 August, 2003
Pheromone Sciences Signs Chinese Distribution Agreement
Toronto, Ontario (August 5, 2003) - Pheromone
Sciences
Corp. (TSX Venture: PHS), a Toronto based
biotech
company and the developer of the
Fertilit�©-
OV�
monitoring device with proprietary technology in
the field
of non-invasive fertility and ovulation detection is
pleased
to announce that it has entered into a long-term
definitive
distribution and licensing agreement with Ningxia
St
Edenweiss.
Under the agreement, Ningxia St Edenweiss, a
public
company whose shares are traded on China's
Shenzhen
Stock Exchange (symbol 000982) has obtained
marketing
and distribution rights for Pheromone's
Fertilit�©-OV
monitor in China, Hong Kong, Macao and
Taiwan. Ningxia
St Edenweiss is a manufacturing and marketing
company
with well-established relationships throughout
the Chinese
medical community. Pheromone shall receive
upfront,
milestone and royalty payments typical of a
transaction of
this nature.
Ningxia St. Edenweiss will immediately institute
the filing
process for Chinese regulatory approval with
product
approval expected to be complete within 12
months time.
"This relationship with Pheromone Sciences is a
clear
demonstration of Ningxia St. Edenweiss's ability
and
capacity to market new and innovative
technologies,"
stated Ningxia St. Edenweiss Chairman Mr. Hou
Yuqian.
"We look forward to introducing the
Fertilit�©-
OV monitor as
well as other new medical devices into this
growing
marketplace."
"The completion of this agreement represents a
significant
milestone for Pheromone Sciences while
contributing to
the health care needs of couples seeking help in
conception", stated Christopher Neuman,
President and
CEO of Pheromone. "We are confident that the
Fertilit�©-
OV monitor will have an equally positive
response in other
markets throughout the world.
The Fertilit�©-OV monitor is a fertility cycle
monitoring
device for the consumer and professional
medical market
and provides a reliable "predictive" approach to
natural,
cycle-based family planning. The Fertilit�©-
OV
monitor is a
non-invasive method of predicting the fertility
window and
ovulation date through the measurements of
perspiration
ion changes on the surface of the skin through a
unique
combination of bio-sensing and computer
technologies
These changes in female perspiration allow for
the
prediction of ovulation up to 4 days before the
ovulation
day.
A US based party, previously reported in the
notes to the
company's financial statements as having
provided a non-
refundable standby fee has determined that the
product is
not a suitable strategic fit with their current
business model
at this time. Efforts remain ongoing with other
out-licensing
prospects both in the US and other jurisdictions.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human reproduction and sexuality.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Venture
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
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Press Release Communiqué de presse - June 23, 2003 23 June, 2003
Pheromone Sciences Issued U.S. Patent on Pheromone's Sensing and Reporting Technology
Toronto, Ontario (July 23, 2003) --
Pheromone
Sciences Corp (TSX-V: PHS), a developer of
fertility
prediction medical devices for both human and
large
animal applications, today announced that the
U.S. Patent
Office has issued patent No. 6,592,529 covering
Pheromone's sensing and reporting technology
in the
early prediction of ovulation for female
mammals,
including humans, using innovative
measurements of
sweat ion concentrations. Fertility prediction and
detection
is of daily interest to the lives of millions of
women across
the United States.
"This patent will serve as a valuable asset as we
work
through licensing opportunities with potential
strategic
partners in both the human and large animal
marketplaces", remarked Christopher Neuman,
President
and CEO of Pheromone Sciences. "The patent
recognizes
the propriety position of Pheromone's unique
technology
for ovulation detection through the non invasive
measurement of sweat ion constituents and
demonstrates
our ongoing commitment to the development of
a
comprehensive intellectual property portfolio."
The patent is also applicable to the Company's
veterinary
program. Within the North American dairy
industry, it is
estimated that about 2 million dairy cows are
monitored
for their ovulation date at any given point in time
as a
precursor to artificial insemination procedures
being
provided to these cattle.
About Pheromone Sciences Corp:
PHEROMONE SCIENCES is a biotechnology and
medical
diagnostics & device research and development
company
that focuses on commercializing technologies in
the field of
human and animal reproduction.
PHEROMONE SCIENCES has capitalized on its
potentially
breakthrough sensing and reporting technology
initially
through the development of two products:
- Fertilit�©-OVâ�¢ monitor, a non-
invasive
fertility cycle
monitoring device for the medical professional &
consumer
market which provides up to 4 days advance
notice of
ovulation and thereby improving the probability
and speed
of conception. The product is approved for
marketing in
the USA, Canada and Western Europe and the
company
is currently in discussions for marketing and
sales
partnerships to bring this technology to the
consumer.
- The company is currently in feasibility studies
that may in
the future bring this technology to the dairy
industry.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human reproduction and sexuality.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
INVESTOR CONTACT
Lorne Woods
1-(800) 937-3095
investor@pheromonesciences.com
www.pheromonesciences.com
Share the news Partagez les nouvelles
Press Release Communiqué de presse - February 25, 2003 25 February, 2003
Pheromone Sciences Enters Advanced Dairy Testing
Toronto, Ontario (February 25, 2003) --
Pheromone
Sciences Corp (TSX-V:PHS), is pleased to
announce the
commencement of advanced testing of its
proprietary
sensing technology for large animal breeding at
the
Ontario Veterinary College, University of Guelph,
under
the direction of Dr. Walter Johnson. This testing
is
designed to generate core data required to fully
adapt the
Company's PSC Fertility Monitor for use in
detecting
hormone and ovulation patterns in dairy cows.
This work
is scheduled to be completed at the end of Q3.
As part of this effort, the company is pleased to
announce
the engagement of Dr. Linda Rhodes VMD, PhD
as
consultant to help design and manage the best
possible
clinical program for the animal breeding
technology.
Within this ongoing program, the Company looks
to
generate efficacy and economic data for use by
the target
market. Dr Rhodes' experience combines over
23 years in
dairy cattle veterinary practice, research in
reproductive
physiology, and human and animal drug
discovery and
development. Dr. Rhodes has experience with
designing
and executing clinical trials and leading product
development teams in the veterinary
pharmaceutical
industry.
"We are very excited about this next stage of the
development process for our PSC Fertility
Monitor
technology and continue tracking toward
completion of
this agricultural program next year." said
Christopher
Neuman, President and CEO of Pheromone
Sciences.
This novel program is based on the same core
technology
employed within the FDA approved PSC Fertility
Monitor
for human use. Successful completion of the
agricultural
program next year would create a non-invasive,
safe and
easy to use fertility and ovulation detection
device for use
in cattle breeding operations. Currently, some
US$400
million is lost each year in North America due to
timing
issues in breeding dairy herds.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human reproduction and sexuality.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
INVESTOR CONTACT
Lorne Woods
1-(800) 937-3095
investor@pheromonesciences.com
www.pheromonesciences.com
Share the news Partagez les nouvelles
Press Release Communiqué de presse - January 14, 2003 14 January, 2003
Pheromone Sciences Appoints Jim Wooder to Board of Directors
Toronto, Ontario (January 14, 2003) -
Pheromone
Sciences Corp (TSX-V:PHS), is pleased to
announce the
appointment of Mr. Jim Wooder, well-known and
respected Toronto businessman, to its Board of
Directors.
Mr. Wooder brings a wealth of investment
knowledge and
business acumen to the Pheromone Sciences'
Board of
Directors. He is currently Vice President of Helix
Investments (Canada) Inc., a North American-
based
venture capital company with assets of $200
million. Mr.
Wooder has held this position since 1993. Prior
to this
Mr.Wooder spent several years in the Canadian
Banking
Industry. In addition, Mr. Wooder has held senior
management positions with prominent
investment and
venture capital firms.
Having participated at the Board of Director level
in some
50 companies, Mr Wooder is Chairman of The
Hanen
Centre, an internationally renowned charity that
develops
programs to assist teachers and parents in the
teaching of
children with speech problems.
"We are extremely pleased that Mr. Wooder has
accepted
this appointment to our Board. His experience
and proven
abilities as a manager and investor will be of
benefit to us
as we enter this crucial phase in our
development and
growth ", commented Dr. William Cochrane,
Chairman of
Pheromone Sciences Corp.
The appointment, which is subject to regulatory
approval,
is part of an ongoing program to enhance the
independent
nature of the Board.
In addition, Mr. Douglas Marett's duties as Chief
Scientific
Officer are now being carried out on a consulting
basis.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human reproduction and sexuality.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
Share the news Partagez les nouvelles
Press Release Communiqué de presse - January 07, 2003 7 January, 2003
Pheromone Sciences Corp. Completes Private Placement Offering
Toronto, Ontario - January 7, 2003 - Pheromone
Sciences
Corp. (TSX-V:PHS) today announced that it has
completed
a private placement; of 2,140,000 units of the
Company at
an issue price of $0.25 per unit for gross
proceeds of
$535,000. Each unit will be exercisable, at no
additional
consideration, into one common share of the
Company
and one common share purchase warrant. Each
common
share purchase warrant has a term of 12 months
and will
be exercisable into one common share at an
exercise
price of $0.30 per share.
Subscribers included a senior Ontario based
biotech
institution, company insiders and 2 private
investors.
Proceeds of the offering will be used to support
the
Company's research and development program,
ongoing
operations, and business development.
Pheromone Sciences Corp. is a biotechnology
and
medical diagnostics device research and
development
company that focuses on commercializing
technologies in
the field of human reproduction and sexuality.
Pheromone Sciences Corp is a member of
MEDEC, which
is the national industry association representing
over 120
medical device and diagnostic companies.
Member
companies are dedicated to serving the health
care
community through the provision of high quality
medical
products and services that benefit Canadians.
Statements contained in this press release,
including those
pertaining to scientific and clinical research,
commercialization plans, strategic alliances, and
intellectual property protection, other than
statements of
historical fact, are forward-looking statements
subject to a
number of uncertainties that could cause actual
results to
differ materially from statements made. The TSX
Ventures
Exchange has not reviewed and does not accept
responsibility for the adequacy or the contents of
this
news release.
INVESTOR CONTACT
Lorne Woods
(800) 937-3095
investor@pheromonesciences.com
www.pheromonesciences.com
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