Proteonomix, Inc. (PROT) Examines Licensing of Diabetes Stem Cell Technology
(firmenpresse) - MOUNTAINSIDE, NJ -- (Marketwire) -- 10/17/11 -- PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that it has decided to examine the possibility of licensing its diabetes related technology to another company in light of continued progress toward its trial of UMK-121, its stem cell treatment for patients awaiting liver transplant to overcome End Stage Liver Disease ("ESLD").
Michael Cohen, President of the Company, stated: "Since we continue our rapid progress toward the commencement of our trial of UMK-121, we have decided to explore the possible licensing of our diabetes related applications of our stem cell technology to another company. This strategic decision is being made in recognition of the increasing breadth of our technology and the need for additional capital and management resources to effectively deal with the massive ramifications of the diabetes applications of the stem cell technology that we have developed."
Mr. Cohen continued: "We have been approached by one group that has expressed interest in exploring such a possibility and we will follow through with this in the coming weeks. Meanwhile we will seek out others interested in a similar transaction keeping in mind at all times that any such deal would have to provide immediate benefit to our shareholders."
About Proteonomix, Inc.:
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix Family of companies includes Proteoderm, StromaCel, National Stem Cell, PRTMI and THOR Biopharma. Proteoderm, Inc. is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel, Inc. develops therapeutic modalities for the treatment of Cardiovascular Disease (CVD). National Stem Cell, Inc. is Proteonomix's operating subsidiary. Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit , , and .
Forward-looking statements:
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Contact:
Proteonomix, Inc.
Michael Cohen
CEO
Phone: +1-973-544-6116
Email:
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Unternehmensinformation / Kurzprofil:
Datum: 17.10.2011 - 15:30 Uhr
Sprache: Deutsch
News-ID 76866
Anzahl Zeichen: 0
contact information:
Town:
MOUNTAINSIDE, NJ
Kategorie:
Hospitals, Facilities and Providers
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