About AspenBio Pharma
AspenBio Pharma, Inc. is an emerging biotechnology company engaged in the discovery, development, manufacture, and licensing or marketing of products primarily for animal healthcare. Founded in August 2000, and headquartered in Castle Rock, Colorado, we leverage our proprietary knowledge and technology towards the development of novel patented or patentable products we believe have substantial market potential. As a significant supplier of human antigens, we manufacture and market approximately 30 antigen products primarily for use as controls by diagnostic test kit manufacturers and research facilities, to determine whether diagnostic test kits are functioning properly. While generating modest, but substantially all of our revenues from this antigen business, we have been actively advancing the development of novel animal reproduction products for large worldwide markets. We currently have a growing product pipeline including novel recombinant hormones and diagnostic tests in development. We also recently initiated our first Food and Drug Administration ("FDA") application with an Investigational New Animal Drug Application ("INADA") filing for one of our new recombinant hormones.
By focusing primarily on veterinary medicine, we gain several competitive advantages. First, since the FDA approval process for animal products is often less costly and time-consuming than that for human products, our research and development costs are substantially reduced and the timeline to product launch is shortened. Second, we believe animal healthcare represents an area of significant market potential with less market competition as compared to the human market. Third, we are able to focus our research and product development resources on improving animal reproduction providing significant new economic and efficiency benefits in large well-developed as well as underdeveloped markets worldwide. Fourth, we are able to focus on fully exploiting what we believe is the significant market potential of a totally new class of reproduction hormones via our patented "single-chain gonadotropin" technology which we believe offers a number of significant cost and performance advantages in numerous non-human mammalian species of economic importance, over conventional native hormone products currently available.
Success for us will depend on our ability to develop and commercialize new products. We are currently focused on completing development of, and bringing six novel products to market. Three of these products provide solutions to improve bovine reproduction, two of these products provide unique solutions for equine reproduction and one human diagnostic product provides a totally new method of assisting physicians in the diagnosis or rule out of appendicitis. We have applied for patent protection on products where they are not already patented under acquired licensed rights.
