SILVER SPRING, Md., Nov. 24, 2014 (GLOBE NEWSWIRE) — PharmaCyte Biotech, Inc. (NVLX), a clinical-stage biotechnology company providing cell therapy solutions for the treatment of diseases, announced today that it has formed a “Diabetes Consortium” that will be tasked with the development of PharmaCyte Biotech’s treatment for insulin-dependent diabetes.
The composition of the Diabetes Consortium has evolved over many months. In addition to key personnel from PharmaCyte Biotech, it consists of principals from Austrianova – Prof. Dr. Walter H. Gunzburg, the Chief Technical Officer of Austrianova and PharmaCyte Biotech’s Chief Scientific Officer, Dr. Brian Salmons, the CEO of Austrianova (Drs. Gunzburg and Salmons co-developed the Cell-in-a-Box(R) technology) and Prof. Ann Simpson of the University of Technology Sydney (UTS) who, along with her professional colleagues at UTS, developed the insulin-producing cells known as Melligen cells. The plan is for these cells to be used as part of PharmaCyte Biotech’s diabetes treatment.
The Diabetes Consortium will also include scientists from the University of Veterinary Medicine Vienna (UVMV) where many of the preclinical studies will be done to develop PharmaCyte Biotech’s diabetes treatment. This research will be led by Prof. Dr. Walter H. Gunzburg, who is a member of the faculty at the UVMV. Other members of the Diabetes Consortium are renowned researchers Prof. Eckhard Wolf and Prof. Rudiger Wanke from the Ludwig-Maximillians University of Munich (UOM) who have developed unique animal models for insulin-dependent diabetes, as well as the former Chief Scientist of Austrianova, Dr. Eva Maria Brandtner, who conducted much of the early research on encapsulated Melligen cells and is now at the VIVIT Research Institute in Austria.
Noted European gastroenterologist and oncologist Dr. Matthias Lohr, who is experienced in the treatment of diabetes and who also serves as the Chairman of PharmaCyte Biotech’s Scientific Advisory Board, will play a major role in overseeing the research to be done within the Diabetes Consortium.
Kenneth L. Waggoner, the CEO and President of PharmaCyte Biotech, commented, “We believe that, within the Diabetes Consortium, we have assembled a world-class group of scientists who have a keen and laser-focused interest in developing a treatment for insulin-dependent diabetes. The establishment of the Diabetes Consortium will allow for the free flow of critically important scientific information between all parties in the Diabetes Consortium as well as the collaboration between major research institutions from around the globe. This should serve to optimize the overall development time as we strive to create an entirely new treatment for insulin-dependent diabetes – a debilitating and dangerous disease that affects so many around the world.”
Pivotal for the treatment will be the encapsulation of live insulin-producing Melligen cells using the proprietary, cellulose-based live cell encapsulation technology known as Cell-in-a-Box(R). These cells and the models at both the UVMV and the UOM will be used for the preclinical studies needed in preparation for clinical trials of PharmaCyte Biotech’s diabetes treatment.
PharmaCyte Biotech’s Chief Scientific Officer, Prof. Dr. Walter H. Gunzburg, said, “The formation of this Diabetes Consortium by PharmaCyte Biotech is very timely and vitally important. Its existence should greatly facilitate our overall efforts as PharmaCyte Biotech works to develop a unique treatment for insulin-dependent diabetes based on the Cell-in-a-Box(R) live cell encapsulation technology. In doing so, we believe that we will be able to develop a true “bio-artificial pancreas” that is both long-lived and effective in treating this devastating disease.”
About PharmaCyte Biotech
PharmaCyte Biotech (NVLX) is a clinical stage biotechnology company focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as Cell-in-a-Box(R). This unique and patented technology will be used as a platform upon which treatments for several types of cancer, including advanced, inoperable pancreatic cancer, and diabetes are being built. PharmaCyte Biotech’s treatment for pancreatic cancer involves the well-known anticancer prodrug ifosfamide, together with encapsulated live cells, which convert ifosfamide into its active or “cancer-killing” form. PharmaCyte Biotech is also working towards improving the quality of life for patients with advanced pancreatic cancer and on treatments for other types of solid cancerous tumors. In addition, PharmaCyte Biotech is developing treatments for cancer based upon chemical constituents of marijuana known as cannabinoids. PharmaCyte Biotech is examining ways to exploit the benefits of Cell-in-a-Box(R) technology in optimizing the anticancer effectiveness of cannabinoids, while minimizing or outright eliminating the debilitating side effects usually associated with cancer treatments. This provides PharmaCyte Biotech a unique opportunity to develop “green” approaches to fighting deadly cancers, such as those of the pancreas, brain and breast, which affect hundreds of thousands of individuals worldwide every year.
Safe Harbor
This press release may contain forward-looking statements regarding PharmaCyte Biotech and its future events and results that involve inherent risks and uncertainties. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to PharmaCyte Biotech or its management, are intended to identify forward-looking statements. Important factors, many of which are beyond the control of PharmaCyte Biotech, that could cause actual results to differ materially from those set forth in the forward-looking statements include PharmaCyte Biotech’s ability to continue as a going concern, delays or unsuccessful results in clinical trials or flaws or defects regarding its product candidates, changes in relevant legislation or regulatory requirements, uncertainty of protection of PharmaCyte Biotech’s intellectual property and PharmaCyte Biotech’s continued ability to raise capital. PharmaCyte Biotech does not assume any obligation to update any of these forward-looking statements.
More information about PharmaCyte Biotech can also be obtained by contacting Investor Relations.
Investor Relations Contacts:
Clare Matschullat
Blueprint Life Science Group
Telephone: 917.595.2856 Ext. 106
[email protected]
