SILVER SPRING, MD--(Marketwired - Oct 9, 2013) - Nuvilex, Inc. (
Pat Gruden, Nuvilex's Chairman of the Board, said that, "Last week's Forbes article, Biotechs Are Back in Favor Amid Plethora of Positive Developments, (http://www.forbes.com/sites/genemarcial/2013/09/23/biotechs-are-back-in-favor-amid-plethora-of-positive-developments) which discussed Nuvilex's work, was a great opportunity to garner attention for a much needed treatment for advanced, inoperable pancreatic cancer." Ms. Gruden went on to say, "We are pleased that the press representing the business community is recognizing the work we are accomplishing with respect to our exclusive rights to a ground-breaking targeted drug delivery system that may be used to develop treatments for many types of cancer. As the Forbes story so aptly reported in its September 23rd issue, results for highly successful Phase 2 clinical trials using this technology to treat inoperable pancreatic cancer included median survival time and one-year survival rate that were better than those reported for the three pancreatic cancer chemotherapy treatments approved by the FDA. The results of those Phase 2 trials were achieved using lower than standard ifosfamide doses, which markedly reduced the side effects from the anticancer drug."
The comprehensive Forbes story also reported that Nuvilex recently announced an agreement with Fisher BioServices, a unit of Thermo Fisher Scientific, for the long-term storage of cells that will be required for Nuvilex's Phase 3 clinical trials. Nuvilex's President and CEO, Dr. Robert F. Ryan, told Forbes, "By partnering with Thermo Fisher, Nuvilex has a 'safety net' in the event any problems that might occur with the cells being prepared for clinical trials. The Company will continue to employ the most stringent and prudent criteria in selecting entities to assist us in preparing for future clinical trials."
In mid-September, 2013, Nuvilex signed an agreement with Inno Biologics, a partner of Germany's Boehringer Ingelheim, to generate cell clones for the Phase 3 trials. As mentioned by Rob Goldman of Goldman SmallCap Research, following an interview with Dr. Ryan, of the clones being generated by Inno Biologics, those with the greatest capability to convert the cancer prodrug ifosfamide into its cancer-killing form will be propagated and prepared for encapsulation. The treatment to be used in Nuvilex's Phase 3 trials will combine these encapsulated cells and ifosfamide.
The Forbes article came on the heels of a recent New York Post article, "Feds Patented Medical Pot... While Fighting It" (http://nypost.com/2013/09/11/feds-patented-medical-marijuana-even-when-they-were-fighting-it) that mentions Nuvilex and turns to Dr. Gerald Crabtree for his opinion on the use of marijuana as another tool to fight cancer. Dr. Crabtree told The New York Post, "The potential for constituents of marijuana to be effective in the treatment of serious diseases is endless. Such constituents have already proven to be effective against various forms of cancer in preclinical testing. There is certainly enough literature in respectable scientific journals to justify examining the use of constituents of marijuana as the basis for developing treatments for some of these types of cancer."
Nuvilex is a biotechnology company with the rights to a novel cellulose-based live-cell encapsulation technology that will be used as a platform upon which treatments for several types of cancer, including advanced, inoperable pancreatic cancer, and diabetes may be 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 "cancer-killing" form. Nuvilex's subsidiary, Medical Marijuana Sciences, Inc., is dedicated to the development of cancer treatments that are based upon constituents of marijuana. For more information visit: www.nuvilex.com.
This press release may contain forward-looking statements regarding future events and the Company's future 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 the Company's financial position, business strategy, plans and objectives of management for future operations, business conditions and indebtedness covenant compliance are forward-looking statements. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations and trends or operating results also constitute such forward-looking statements.
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The Company 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 Company's control. The Company does not assume any obligations to update any of these forward-looking statements.
- Health Care Industry
- pancreatic cancer
- Gerald Crabtree
- clinical trials
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