Proteonomix, Inc. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, today provided updates on its progress.
UMK-121: We are pursuing the Phase 1 clinical trials of UMK-121 for End Stage Liver Disease. The Company also announced that it intends to conduct research and clinical trials involving use of UMK-121 in certain oncological applications, specifically as an adjunct therapy for bone marrow transplant patients.
StromaCel Cardiac Treatment: The Company is diligently pursuing an improved StromaCel product to be administered to patients shortly after a heart attack as a potential therapeutic use in the regrowth of damaged cardiac cells. The Company plans to file an IND with the U.S. Food and Drug Administration with the enhanced treatment.
Proteoderm Cosmeceuticals Launch: Proteoderm is actively working toward an anticipated late third quarter or early fourth quarter launch of its line of anti-aging cosmeceuticals and, as recently announced, is currently working on formulation, production and packaging to realize that goal.
Financing: Proteonomixâ€™s financing through Rodman & Renshaw, LLC, completed in March 2012 provided Proteonomix with net proceeds of $3.5 million. Some of the funds have been used to retire debt and the balance of more than $3 million will provide all funding required to launch the Proteoderm line of cosmeceutical products and to advance the development of products in Proteonomixâ€™s wholly owned subsidiaries, Thor BioPharma and StromaCel, and to propel them toward clinical trials and revenue production. The financing also will allow the Company to fund its portion of the costs associated with possible future Phase 1 trials, as well as to continue its diabetes research.
Proteonomix is obligated to register the shares underlying the offering by filing a registration statement on or before April 16, 2012, and to bring that registration statement effective on or before September 6, 2012.
Proteonomix CTO Steven Byle stated, â€śWe are pleased with our progress on multiple fronts that is moving us toward human trials and lunching the Proteoderm products. We are firmly focused on building long-term shareholder value and believe that we are making great strides in that direction.â€ť
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, PRTMI and THOR Biopharma. Proteoderm is a wholly owned subsidiary that has developed an anti-aging line of skin care products, which will be available in select U.S. physician offices late in the third quarter or early in the fourth quarter. StromaCel develops therapeutic modalities for the treatment of cardiovascular disease, with plans to file an IND application for post-myocardial infarction treatment. 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. Additional information is available at www.proteonomix.com and www.proteoderm.com.
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.Business Wire
Last updated on: 10/04/2012 08:00:01