Today, Nuvilex, Inc. (OTCQB:NVLX), through its Singapore-based biotech company associate, SG Austria, announced completion of substantial therapeutic antibody patent portfolio talks, culminating in the addition of the Exclusive Worldwide License to the existing SG Austria patent position for encapsulating therapeutic antibody-producing cells.
As announced in December, SG Austria acquired ownership of one half of the patent. As a result of the announcement today, SG Austria has now added the Exclusive Worldwide License to their existing patent ownership position from the other original patent owner. This now ensures SG Austria has 100% exclusive use of the patent for encapsulation of therapeutic antibody-producing cells worldwide.
This particular patented use of encapsulated live cell technology for therapeutic antibodies was pursued because of its tremendous market and revenue potential. One primary aspect of the patentâ€™s therapeutic treatment value is that it will allow patients and physicians to avoid the peaks and troughs associated with therapeutic antibodies typically given by single or multiple injections.
President and CEO for Nuvilex, Dr. Robert F. Ryan stated, â€śWe are extremely delighted the Exclusive Worldwide License was acquired by SG Austria, as we are nearing completion of our initial plans. Although this required substantial discussions and work to finish, it now provides a stronger patent position as a result. The addition of the worldwide license will enable greater potential for revenue production as use of encapsulated cells expressing therapeutic antibodies and antibody-like molecules moves forward.â€ť
Nuvilex, Inc. (OTCQB:NVLX) is an emerging international biotechnology provider of live therapeutically valuable, encapsulated cells and services for research and medicine. Through substantial effort, aspects of our corporate activities alone and in concert with SG Austria are nearing completion, ultimately providing for a strong future together. Our companyâ€™s clinical offerings will include cancer, diabetes and other treatments using the companyâ€™s industry-leading cell and gene therapy expertise and cutting edge, live-cell encapsulation technology.
Safe Harbor Statement
This press release contains forward-looking statements described within the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties including product demand, market competition, and meeting current or future plans which may cause actual results, events, and performances, expressed or implied, to vary and/or differ from those contemplated or predicted. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Nuvilex is not obliged to publicly release revisions to any forward-looking statement, reflect events or circumstances afterward, or disclose unanticipated occurrences, except as required under applicable laws.Business Wire
Last updated on: 11/04/2012 16:00:01