(via Thenewswire.ca)
Vancouver, B.C., / TheNewswire / March 26, 2015 - Network Oncology Inc. ("Network Oncology", "the Company") through its wholly owned subsidiary, Emerald Oncology Ltd., the Company is proceeding with a streamlining initiative to obtain an Irish Wholesaler License. This initiative lowers corporate costs, makes required tax filings more seamless, and decreases language related issues in dealing with different countries for the sale of our products. The initiative is important to creation of an optimal operating environment to facilitate sales to Germany and other countries. The Company will be meeting with the Irish Health Product Regulatory Authority ("HPRA") in early April to undertake a Good Distribution Practice (GDP) inspection of its facilities in Celbridge, Co. Kildare, Ireland.
Network Oncology possesses a well-diversified portfolio of drug assets and plans to use its technical and commercial expertise to develop, launch, market and sell their portfolio of value-added products and services throughout Europe while offering significant cost savings to patients and payers.
Commenting on the initiative, Sean Maenpaa, CEO stated, "A vital business component for the Company is to obtain an Irish Wholesale license. Through our Irish subsidiary, Emerald Oncology Ltd, we look forward to working with the HPRA to facilitate a smooth transaction over the next few weeks".
The Company is expected to launch several more oncology products in the next twelve months to broaden its portfolio and services to healthcare professionals.
About Network Oncology Inc.
Network has acquired and is currently selling a core portfolio of oncology generic products for the European markets with possible expansion to other territories. The Company is commercially focused and is dedicated to serving the oncology marketplace by understanding local market dynamics and its customers unmet needs. In addition, the Company has the ability to identify and pursue profitable segments of the oncology market in conjunction with providing value-added products and support services for its portfolio. Network also possesses the knowledge and capability to develop and commercialize differentiated versions of existing cancer products where an unmet need currently exists.
Further Information
Further details are available under the Company's profile on SEDAR at www.sedar.com, and the Company's profile on the CSE's website at www.cnsx.ca.
For further information please contact:
Sean Maenpaa, President, CEO, and Director
Telephone: +353(0)874601340
E-mail: info@networkoncology.com
Website: www.networkoncology.com
Canadian Securities Exchange (CSE): Symbol NOI
Deutsche Boerse Xetra - Frankfurt Stock Exchange: Symbol 2NY; WKN#: A11827
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company including future plans for the development and sale of oncological pharmaceutical products. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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