MT. KISCO, N.Y., Dec. 18, 2013 (GLOBE NEWSWIRE) -- ImmuDyne, Inc. (OTCQB:IMMD) (the "Company") and Adiuvo ("Adiuvo"), a life-science and healthcare investment company domiciled in Central Europe, today announced the signing of a Memorandum of Understanding (MOU) to form a strategic Joint Venture ("JV") on all non-US business to anticipate the filing of new patents.
ImmuDyne and Adiuvo will each own 50% of the JV, with the option for Adiuvo to purchase up to a 10% interest in ImmuDyne within the next nine months. ImmuDyne will also be given the option of acquiring the same interest in Adiuvo.
The JV is anticipated to launch in the first quarter of 2014. The JV will initially consist of several oral and topical finished products that enhance immune response.
Mark McLaughlin, President and CEO of ImmuDyne stated, "The purpose of the JV is to establish a joint research and commercialization platform for ImmuDyne´s current immune potentiating products, as well as for future novel opportunities. Working in collaboration with the select US and European research centers, the JV will give the Company access to considerable research & development capital and expertise. The principals of Adiuvo, led by Marek Orlowski, have a very successful track record in operating businesses in the nutraceutical market in Europe and we are looking forward to this mutually beneficial cooperation."
Dr. Michael Lonsert, Chief Investment Officer, Nutraceuticals, Adiuvo Investment said, "ImmuDyne has filed two new provisional patents - one in the adjuvant treatment of bladder cancer and one in treatment of alcohol abuse. Clinical testing on each indication will commence in Q1 2014. Moreover, in addition to these two indications, the JV anticipates the filing of several new patents in the first quarter of 2014, with clinical testing on each indication taking place in each instance as well. One of the key things that Adiuvo brings to the JV is funding, including research grants, enabling ImmuDyne, and the JV, to have access to a robust R&D budget."
About Adiuvo Investment S.A.
Adiuvo Investment S.A. (ADIUVO) is an investment company domiciled in Warsaw, Poland, investing in the selected segments of the healthcare and life science sector. These are: health preservation and treatment support, medical devices & digital health, and preventive personalized medicine and diagnostics. The Company builds on the considerable experience of the Orenore Group (Orenore Sp. z o.o. and its related companies) which since 2008 has been successfully investing in the early stage healthcare and life science companies worldwide.
About ImmuDyne, Inc.
ImmuDyne, Inc. is a scientific-based, wellness company. Since 1990, ImmuDyne has been providing value to consumers with our extensively researched, ultrapure, proprietary yeast beta-1,3/1,6-D-glucan supplements. ImmuDyne has a portfolio of unique proprietary and patent-protected products with applications in the wellness, skin care, anti-aging, fitness, and health markets. ImmuDyne has offices located in Mt. Kisco, NY, Carlsbad, CA, and Florence, Kentucky. PURACERE, iNR Strength, iNR Wellness, and iNR Wellness MD are trademarks of ImmuDyne, Inc. 2013.
ImmuDyne shares trade under the ticker symbol IMMD and the Company can be found on the web at www.immudyne.com.
SAFE HARBOR: Cautionary language regarding Forward-Looking Statements Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain statements in this press release may contain words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "projects," "plans," "targets" and other similar language and are considered forward-looking statements. These statements are based on management's current expectations, estimates, and forecasts. These forward-looking statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and therefore the actual results may be materially different from those discussed.
CONTACT: Investor/Media Contacts: ImmuDyne, Inc. Mark McLaughlin +1-914-714-8901 MarkMcL@immudyne.com Adiuvo Dr. Michael Lonsert +48 22 398 3902 firstname.lastname@example.orgSource:ImmuDyne, Inc.;Adiuvo Investment S.A.