Cyplasin Biomedical Ltd. changed its name to C-Pharma, Inc

Cyplasin Biomedical Ltd. has entered into an agreement for a worldwide, exclusive licensing agreement with C-Pharma Inc. The license gives Cyplasin the rights to the manufacture and commercialization of certain antiviral drugs for the treatment of hepatitis C virus-infected patients. The agreement also licenses the rights for the development of a prophylactic vaccine (called C-Vaxin) for the prevention of chronic hepatitis C disease. While the financial terms of the license have not been disclosed, the agreement calls for standard upfront licensing fees with a low digit royalty. Cyplasin will also fund an R&D contract to develop the C-Vaxin product line. The antiviral drugs will initially consist of ribavirin in combination with pegylated interferon and with the brand names of C-Virin and C-Pegferon respectively.

Cyplasin Biomedical Ltd. reported earnings results for the second quarter ended July 31, 2009. Net loss for the quarter was $115,873, up $191,968 for the same quarter the previous year.