SILVER SPRING, Md., Dec. 9, 2013 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today it recently held three days of meetings to solidify the objectives and plans of Nuvilex for future research and development. The participants included the officers and Board of Directors of Nuvilex, as well as principals from SG Austria and Austrianova Singapore, to cement plans and objectives for progress in the near and far term.
During the meetings, particular emphasis was placed on progress in preparing for the late-phase clinical trials of Nuvilex that will use the recently acquired cellulose-based live-cell encapsulation Cell-in-a-Box™ technology as part of the treatment for those suffering from advanced, inoperable pancreatic cancer. In addition, plans for developing treatments for diabetes that use the same technology were discussed in detail. Additional points of discussion were the objectives and plans for development of treatments for cancer and other diseases using active compounds derived from marijuana and the potential role that the live-cell encapsulation technology might be able to play in such treatments.
The participation of Prof. Walter H. Gunzburg, Chairman and Chief Technical Officer of SG Austria, and Dr. Brian Salmons, CEO and President of Austrianova Singapore, in the meetings was particularly noteworthy. Drs. Gunzburg and Salmons developed and brought to maturity the cellulose-based live-cell encapsulation technology that is the basis for Nuvilex's research and development efforts and were directly involved in the successful Phase 1/2 clinical trials in advanced, inoperable pancreatic cancer already conducted using this technology. Nuvilex's rights to use this technology for the development of treatments for cancer were acquired from SG Austria and the license for its use in diabetes was acquired by Nuvilex from Austrianova Singapore. Importantly, Drs. Gunzburg and Salmons will continue to work closely with Nuvilex in projects that involve the use of this technology as Nuvilex prepares for and conducts its late-stage clinical trials.
Kenneth L Waggoner, Nuvilex's CEO and President, commented, "These meetings were important and essential in cementing our plans for developing treatments for serious and deadly diseases like cancer and diabetes through the use of the cellulose-based live cell encapsulation technology. In that vein, we are extremely grateful to Drs. Gunzburg and Salmons for traveling from Singapore to join us in them and for agreeing to work closely with us in our efforts to employ the technology that they have developed."
Nuvilex is a biotechnology company with the rights to a novel cellulose-based live-cell encapsulation technology, called Cell-in-a-Box™, 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. Nuvilex's subsidiary, Medical Marijuana Sciences, Inc., is dedicated to the development of cancer treatments based upon the well-known chemical constituents of marijuana. Nuvilex is exploring ways in which the Cell-in-a-Box™ technology may play a role in these efforts.
This press release may contain forward-looking statements regarding Nuvilex 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 Nuvilex'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 Nuvilex, 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) Nuvilex'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 Nuvilex.
Nuvilex 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 Nuvilex. Nuvilex does not assume any obligations to update any of these forward-looking statements.
More information about Nuvilex can be found at www.nuvilex.com. It can also be obtained by contacting Investor Relations.
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