Hemosol Corp · 6-K · For 9/28/04

Filed On 9/28/04 12:22pm ET   ·   SEC File 0-50778   ·   Accession Number 909518-4-795

Report of a Foreign Private Issuer   ·   Form 6-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 6-K         Report of a Foreign Private Issuer                     5     19K 

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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER
 PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2004                                                 

Commission File Number 000-50778                                                

 Hemosol Corp.
--------------------------------------------------------------------------------
 (Translation of registrant's name into English)

 2585 Meadowpine Boulevard, Mississauga, Ontario, Canada L5N 8H9
--------------------------------------------------------------------------------
 (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports 
under cover of Form 20-F or Form 40-F: Form 20-F  X  Form 40-F                  
                                   ---           ---

Indicate by check mark if the registrant is submitting the Form 6-K in paper as 
permitted by Regulation S-T Rule 101(b)(1):____                                 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as 
permitted by Regulation S-T Rule 101(b)(7):____                                 

Indicate by check mark whether by furnishing the information contained in this  
Form, the registrant is also thereby furnishing the information to the          
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes      No  X                                                                  
---     ---                                                             

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):                                                 
82-___________________.                                                         

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The following is included in this Report on Form 6-K:                           

1. Press release, dated September 28, 2004.                                     

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 HEMOSOL TO MANUFACTURE HEPALEAN PRODUCTS FOR ORGANON CANADA

- First Shipments Expected in Early 2005 -

TORONTO, ONTARIO (SEPTEMBER 28, 2004) - Hemosol (NASDAQ: HMSL, TSX: HML) today  
announced that it has signed a multi-year agreement with Organon Canada, the    
pharmaceutical division of Akzo Nobel. This agreement, with an initial term of  
three years, will see Hemosol become the exclusive Canadian manufacturer and    
supplier of licensed "Hepalean(R)" products to Organon.                         

Shipments of the first Hepalean products are scheduled to begin in early 2005   
subsequent to the completion of manufacturing process validation and licensing  
of the Meadowpine facility. Revenue from this agreement is expected to          
contribute to reducing Hemosol's burn rate beginning in 2005.                   

"This agreement represents a major step in our strategy to leverage our         
state-of-the-art Meadowpine facility and bio-manufacturing expertise to produce 
high value biopharmaceutical products and more specifically validates our       
experience and capability in the area of protein manufacturing," said Dr. Dirk  
Alkema, Vice President, Operations of Hemosol. "We will also be acquiring a much
needed capability in terms of vial fill/finish that rounds out our portfolio as 
we move forward with our other commitments including our previously announced   
strategic alliance with ProMetic and the American Red Cross."                   

Hemosol's addition of a vial filling line to fulfil this agreement complements  
Hemosol's existing capability of aseptic filling into IV transfusion bags. The  
new capacity will also support other business opportunities that Hemosol is     
pursuing.                                                                       

Organon's Hepalean products are derived from heparin sodium, an agent used in   
the treatment of thrombophlebitis, phlebothrombosis, and cerebral, coronary, and
retinal vessel thrombosis to prevent extension of clots and thromboembolic      
phenomena. Heparin is also used prophylactically to prevent the occurrence of   
thromboembolism, and to prevent clotting during dialysis and other surgical     
procedures, particularly vascular surgery. Hepalean is the only line of heparin 
that offers presentations that are preservative free.                           

"Our decision to contract with Hemosol was based on their key competencies and  
experience," said Fred Hendriksen, President, of Organon Canada. "Built to      
extract, purify and manufacture proteins, Hemosol's world-class Meadowpine      
manufacturing facility and related capabilities are perfectly suited to         
manufacture our Hepalean products and we anticipate other opportunities between 
Organon and Hemosol."                                                           

ABOUT ORGANON CANADA                                                            
Organon is the largest of the three pharmaceutical business units of Akzo Nobel,
a leading global company in health care products, coatings and chemicals.       
Headquartered in The Netherlands, Akzo Nobel currently employs 67,900 people in 
80 countries. Its sales totalled Euro 14 billion in 2002. Organon is a global   
leader in the creation of innovative prescription medicines for gynaecology,    
mental health, anaesthesia, and cardiovascular disease - products that          
contribute to the health of people and their quality of life.                   

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Organon, headquartered in Roseland, NJ, USA creates and markets prescription    
medicines that improve the health and quality of human life. Through a          
combination of independent growth and business partnerships, Organon strives to 
become or remain one of the leading pharmaceutical companies in each of its core
therapeutic fields: reproductive medicine, psychiatry and anaesthesia. Organon  
products are sold in over 100 countries, of which more than 60 have an Organon  
subsidiary. Organon is the human health care business unit of Akzo Nobel.       

Organon Canada Ltd., located in Toronto, sells Puregon, Marvelon, Remeron RD,   
Zemuron, and Andriol. For more information visit Organon Canada's website at    
www.organon.ca                                                                  

ABOUT HEMOSOL                                                                   
Hemosol is a biopharmaceutical company focused on the development and           
manufacturing of biologics, particularly blood-related proteins. Hemosol is     
leveraging its expertise in manufacturing blood proteins and its                
state-of-the-art Meadowpine manufacturing facility to seek additional strategic 
growth opportunities. Hemosol has a broad range of novel therapeutic products in
development, including HEMOLINK TM (hemoglobin raffimer), oxygen therapeutic    
designed to rapidly and safely improve oxygen delivery via the circulatory      
system. Hemosol is also developing next generation oxygen therapeutics, a       
hemoglobin-based drug delivery platform to treat diseases such as hepatitis C   
and liver cancers, and a cell therapy program initially directed to the         
treatment of cancer.                                                            

For more information visit Hemosol's website at www.hemosol.com.                

Hemosol's common shares are listed on the NASDAQ Stock Market under the trading 
symbol "HMSL" and on the Toronto Stock Exchange under the trading symbol "HML". 

Certain statements concerning Hemosol's future prospects are "forward-looking   
statements" within the meaning of the United States Private Securities          
Litigation Reform Act of 1995 and other applicable securities legislation. There
can be no assurances that future results will be achieved, and actual results   
could differ materially from forecasts and estimates. Important factors that    
could cause actual results to differ materially from forecasts and estimates    
include, but are not limited to: Hemosol's ability to obtain regulatory         
approvals for its products; Hemosol's ability to successfully complete clinical 
trials for its products and enter into satisfactory arrangements for the supply 
of materials used in its manufacturing operations and the sale of resulting     
products to customers; technical, manufacturing or distribution issues; the     
competitive environment for Hemosol's products; the degree of market penetration
of Hemosol's products; Hemosol's ability to obtain sufficient financing to      
complete clinical development of its products; and other factors set forth in   
filings with Canadian securities regulatory authorities and the U.S. Securities 
and Exchange Commission. These risks and uncertainties, as well as others, are  
discussed in greater detail in the filings of Hemosol with Canadian securities  
regulatory authorities and the U.S. Securities and Exchange Commission. Hemosol 
makes no commitment to revise or update any forward-looking statements in order 
to reflect events or circumstances after the date any such statement is made.   

Contact: JASON HOGAN                                                            
Investor & Media Relations                                    
416 361 1331                                                  
800 789 3419                                                  
416 815 0080 fax                                              
ir@hemosol.com                                                
www.hemosol.com                                               

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SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the    
undersigned, thereunto duly authorized.                                         

HEMOSOL CORP.   

       By: /s/ LEE D. HARTWELL
                                     -------------------------------------------
                 Name:   Lee D. Hartwell
                                    Title:  President, Chief Executive Officer
                                       and Chief Financial Officer

Date:  September 28, 2004                                                       

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Dates Referenced Herein   and   Documents Incorporated By Reference

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