SILVER SPRING, Md., Dec. 30, 2013 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today that Dr. Mark L. Rabe, Chairman of the Scientific Advisory Board (SAB) of its wholly-owned subsidiary Medical Marijuana Sciences, Inc., has developed a Charter and Goals and Objectives for that Board.
The charter developed by Dr. Rabe delineates the mission of the SAB as follows:
- Developing disease treatments that utilize constituents of Cannabis through the use of Nuvilex's proprietary Cell-in-a-Box™ cellulose-based live-cell encapsulation technology. Initial emphasis will be placed on the development of treatments for brain and pancreatic cancers, two of the deadliest and most difficult-to-treat forms of the disease; and
- Establishing Medical Marijuana Sciences as an industry leader in the development of Cannabis-based disease treatments.
The Charter presents the Goals and Objectives of the SAB in advising Medical Marijuana Sciences as a whole. They are:
1. Provide an objective and diversified perspective on the science and technology related to the use of Cannabis for treatments of diseases;
2. Assist in drug development and clinical research;
3. Validate the science and technology;
4. Assist in developing a pipeline of products;
5. Establish critical connections with academic research; and
6. Evaluate new technologies and intellectual properties and assess the market potential of each as they relate to the Charter of Medical Marijuana Sciences.
In addition to developing the SAB Charter, Dr. Rabe has begun to recruit individuals worldwide with stellar credentials to become members of the SAB of Medical Marijuana Sciences. If these recruitment efforts are successful, the SAB will be diverse in terms of both outlook and expertise.
In commenting on Dr. Rabe's efforts, Gerry Crabtree, Chief Operating Officer of Nuvilex and Medical Marijuana Sciences stated, "We are very pleased at the efforts put forth to date by Dr. Rabe in his role as Chairman of the Scientific Advisory Board for Medical Marijuana Sciences. He has proven to be very enthusiastic and proactive in his leadership role. We believe that when the roster of SAB members is filled, the SAB will play a major role in fulfilling the goals and objectives of Medical Marijuana Sciences."
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 and the Securities Exchange Act of 1934. 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.
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