SILVER SPRING, Md., Dec. 19, 2013 (GLOBE NEWSWIRE) — PharmaCyte Biotech, Inc. (NVLX), an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, provided an update today on the progress made by its contractor, Inno Biologics, regarding the cloning of the cancer-prodrug ifosfamide-activating cells that form the basis for the cancer treatment and will be encapsulated as part of the development of the treatment for PharmaCyte Biotech’s future clinical trials in advanced pancreatic cancer.
The cells being cloned at Inno Biologics are those that are able to convert ifosfamide, an anti-cancer prodrug, into its cancer-killing form. Ultimately, the cells obtained will be encapsulated using the Cell-in-a-Box(TM) cellulose-based live cell encapsulation technology. Together with ifosfamide, the encapsulated cells form PharmaCyte Biotech’s treatment for advanced pancreatic cancer that will be used in the Company’s future clinical trials.
To date, the cloning process at Inno Biologics has been going well with initial clones that have been isolated using the “State-of-the-Art” Clone-Pix(TM) technology that allows for optimization of the clone isolation process. The next round of clones will be expanded and run through the system to address biochemical, molecular biology and adventitious agent (e.g. viruses) testing and is expected to begin in the near future.
In addition, a strategic planning meeting was held the week of November 24, 2013 to assess issues regarding the ongoing cloning activities. Participants included Dr. Robert F. Ryan, PharmaCyte Biotech’s Chief Scientific Officer, Datuk Dr. Ahmed Tasir Bin Lope Pihie, CEO of Inno Biologics, Dr. Walter H. Gunzburg, Chairman and Chief Technical Officer of Austrianova and Dr. Brian Salmons, CEO and President of Austrianova from whose company the rights to use the Cell-in-a-Box(TM) technology for the development of cancer treatments were acquired.
In commenting on the cloning process, Dr. Ryan stated, “We are confident with the results of the initial cloning process to this point which showed its capabilities to isolate multiple clones that were grown from single cells. This is critical as we move this project forward to insure the reproducibility of the future cancer treatments being advanced here at PharmaCyte Biotech. We continue to make progress toward our goal of bringing this treatment option to clinical trials for advanced inoperable pancreatic cancer.”
About PharmaCyte Biotech:
PharmaCyte Biotech is a biotechnology company with the rights to a novel cellulose-based live-cell encapsulation technology, called Cell-in-a-Box(TM), that will be used as a platform upon which treatments for several types of cancer, including advanced, inoperable pancreatic cancer and diabetes are being built. The Company’s treatment for pancreatic cancer involves the use of the widely used anticancer prodrug, ifosfamide, together with encapsulated live cells that convert ifosfamide into its active or “cancer-killing” form. PharmaCyte Biotech’s subsidiary, Medical Marijuana Sciences, Inc., is dedicated to the development of cancer treatments based upon the well-known chemical constituents of marijuana. PharmaCyte Biotech is exploring ways in which the Cell-in-a-Box(TM) technology may play a role in these efforts.
Safe Harbor:
This press release may contain forward-looking statements regarding PharmaCyte Biotech and its future events and results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release regarding PharmaCyte Biotech’s financial position, business strategy, plans and objectives of management for future operations and business conditions are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. 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, but are not limited to, the following: (i) general economic or business conditions; (ii) changes in legislation or regulatory requirements; (iii) conditions of the securities markets; (iv) PharmaCyte Biotech’s ability to raise capital; (v) changes in accounting principles, policies or guidelines; (vi) financial or political instability; and (vii) other economic, competitive, governmental, regulatory and technical factors affecting the plans, operations, products and services of PharmaCyte Biotech.
PharmaCyte Biotech has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the control of PharmaCyte Biotech. PharmaCyte Biotech does not assume any obligations to update any of these forward-looking statements.
More information about PharmaCyte Biotech and Medical Marijuana Sciences can be found at www.nuvilex.com and www.medicalmarijuanasciences.com. It can also be obtained by contacting Investor Relations.
Contact:
Investor Relations Contacts:
Marlin Molinaro
Marmel Communications, LLC
Phone: 702.434.8692
[email protected]
