Millenium Space Agency Contract for eOSTEO is Advanced to Detailed Design Phase
Millenium Biologix Corporation (TSX: MBC) (“Millenium”) today announced that it has been awarded a key continuation of the initial Canadian Space Agency (“CSA”) contract to develop an automated osteoporosis mini lab for space missions. The first of this series of space contracts for the Enhanced OSTeoporosis Experiments in Orbit (“eOSTEO(TM)”) was announced in May 2005.
This contract amendment progresses eOSTEO through a formal CSA-driven Detailed Design Phase and brings the total value to date from this series of contracts to $726,000. Subsequent contracts are expected to progress the program through Fight Hardware Manufacture, and Science and Mission Support.
About The OSTeoporosis Experiments in Orbit
The OSTeoporosis Experiments in Orbit (“OSTEO(TM)”) system has been proven in two earlier manned NASA space missions (STS-95 and STS-107), and is now being re-designed for use in unmanned missions. This enhanced OSTEO mini lab (“eOSTEO(TM)”) uses Millenium’s proprietary Skelite(TM) technology, which is an ideal medium for growing bone cells in research studies related to osteoporosis and bone loss.
The first flight of eOSTEO is scheduled to be launched in 2007. The Russian unmanned 12 day Foton 3 mission is expected to carry two eOSTEO payloads: one containing Canadian-based science, the other containing European Space Agency (“ESA”) science. In parallel with these development activities, Millenium is working closely with the CSA and ESA to ensure that all the mission integration activities for the Russian TsSkB Foton team are met in preparation for the scheduled launch.
About Millenium Biologix Corporation
Millenium is a leading biomedical company focused on the development and commercialization of next generation, implantable medical devices and skeletal tissue regeneration products for targeted orthopedic uses. These products, used alone or in combination configurations, promote the repair and natural healing of human bone and other skeletal tissues such as cartilage. Millenium’s strength in developing leading treatments for regenerative medicine is based on its successful integration of three core competencies in advanced biomaterials, biologics and engineering. Skelite(TM), Millenium’s synthetic bone graft, was launched for commercial sale in June 2003. Primacoll(TM), which was recently granted CE Mark approval, is in the process of being launched in Europe. Peptos(TM) and ACTES(TM) (Autologous Clinical Tissue Engineering Systems), Millenium’s products addressing the growth factor and tissue engineering markets respectively, are currently in late stage development. For more information about Millenium, please visit www.millenium-biologix.com.
Note: Certain information contained in this press release is forward- looking and is subject to unknown risks or uncertainties. The actual results, performance or achievements of Millenium Biologix Corporation may differ materially from the results, performance or achievements of the Corporation expressed or implied by such forward-looking statements.
For further information: General inquiries: Sheema Inayatulla, Manager, Investor Relations, investor@millenium-biologix.com, T: (613) 389-6565 (Toll-free: 866.MBC.3380); Technical inquiries: Lowell Misener, Director of Systems Group, lowell.misener@millenium-biologix.com, T: (613) 389-6565 (Toll-free: 866.MBC.3380)
