LAVAL, Quebec, Nov. 12, 2012 (GLOBE NEWSWIRE) -- NeuroBioPharm Inc. ("NeuroBio"), a Neptune Technologies & Bioressources Inc. ("Neptune") subsidiary, reports that in the afternoon of November 8, 2012, an explosion and fire destroyed its production plant located in Sherbrooke, Québec, Canada. Three workers were fatally injured and eighteen other workers were transported to the hospital, four of whom were severely injured.
Following the news of the death of three of its employees, Neptune's management extended their most sincere condolences to the victims' families and friends. Neptune's focus is concentrated first on its employees and their families, and supporting them through the tragedy. With the help of the Commission de la santé et de la sécurité du travail (CSST), Neptune is providing its employees with counselling services to ensure that they have access to appropriate support under these circumstances. A more detailed support plan for employees will be disclosed by Neptune to its employees shortly.
NeuroBioPharm 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, CEO and President of Neptune.
NeuroBio commenced operations in October 2008, after having acquired an exclusive worldwide license from its parent company, Neptune, to research and develop existing and new APIs based on Neptune's proprietary omega-3 phospholipid technology and intellectual property. "NeuroBio will stick to its business plan and research and development activities will continue as planned, although milestones and the start of commercialization may be delayed," commented André Godin, Chief Financial Officer of NeuroBio. NeuroBio will also continue to be dependent on the support of Neptune as its controlling shareholder.
NeuroBioPharm is pursuing pharmaceutical neurological applications, and a clinical study for a medical food product with a multinational partner is already initiated. The development of a prescription drug candidate is currently in progress. Advanced clinical development and commercialization is planned to be carried out with multinational partners.
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: NeuroBio Contact: Tina Sampalis Chief Global Strategic Officer +1.450.686.4555 firstname.lastname@example.org www.acastipharma.com Andre Godin Chief Financial Officer +1.450.687.2262 email@example.com Howard Group Contact: Dave Burwell +1.888.221.0915 firstname.lastname@example.org www.howardgroupinc.comSource:Neptune Technologies & Bioressources Inc.