Altachem Pharma announces sale of breath kit manufacturing assets

Edmonton, AB – Aug 9, 2004 – Altachem Pharma says its wholly owned subsidiary, Altachem Pharma has sold the business assets and its interest in leasehold improvements associated with the manufacture of the medical diagnostic breath kit to Isodiagnostika for the sum of $500,000.

As a result of the sale, the remaining three years of Altachem’s exclusive manufacturing agreement for the breath kit between Isodiagnostika and Altachem’s wholly owned subsidiary Steroidogeneisis Inhibitors Canada was been terminated as of July 30, 2004.

Altachem has moved production of Accu-MAb (a diagnostic kit for the identification of Bordetella pertussis, more commonly referred to as whooping cough) to its head office and laboratory facility located in the Edmonton Research Park and will continue to manufacture and distribute the product from there. A diagnostic manufacturing suite is currently being upgraded in the laboratory facility to meet required ISO standards.