SILVER SPRING, Md., July 1, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), a clinical-stage international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today that Chief Executive Officer and President Kenneth L. Waggoner and Chief Operating Officer Dr. Gerald W. Crabtree attended the 2014 BIO International Convention held June 23-26, 2014, in San Diego, California. The event allowed the CEO and COO to spend valuable time with Cell-in-a-Box® co-developers, Drs. Walter Günzburg and Brian Salmons, Clinical Network Services of Australia who will conduct Nuvilex's Phase 2b clinical trial in pancreatic cancer and with a representative of the Juvenile Diabetes Research Foundation about Nuvilex's plans for treating diabetes.
Kenneth L. Waggoner, CEO and President of Nuvilex, stated, "Nuvilex's attendance at this year's BIO convention proved to be extremely fruitful. The ability for us to hold intensive and very productive meetings in this single location with key representatives of many of the entities Nuvilex is and will be working with around the globe to develop the protocols for the pancreatic cancer and diabetes treatments was indeed fortunate and extremely beneficial."
While at the BIO International Convention, the world's largest biotechnology gathering, Mr. Waggoner and Dr. Crabtree held in-depth meetings with Drs. Walter Günzburg and Brian Salmons, the developers of the Cell-in-a-Box® live-cell encapsulation technology that forms the platform for Nuvilex's pancreatic cancer treatment as well as treatments for other forms of cancer and for diabetes. In particular, updates on developments related to the GMP (Good Manufacturing Practices)-compliant cell encapsulation facility being established in Bangkok, Thailand, were discussed. This facility was featured in the Thailand exhibit in the Exhibition area of the Convention. Mr. Waggoner and Dr. Crabtree also met several individuals from the Thailand delegation while at the Convention.
Meetings were also held with senior representatives of Clinical Network Services, the CRO in Australia contracted by Nuvilex to carry out the Phase 2b clinical trial in pancreatic cancer in that country. In addition to discussions regarding preparations for the trial, plans were developed for the filings for Orphan Drug applications in the United States, the European Union and Australia.
As for diabetes, an area of great excitement for Nuvilex, meetings were held with a representative of the university from which Nuvilex plans to license the human insulin-producing cell line that will be used to develop a treatment for insulin-dependent diabetes. Importantly, a separate meeting was held with a representative of the Juvenile Diabetes Research Foundation which is based in the US. Additional meetings are being planned with the JDRF in the near future to explore ways the company and the Foundation may collaborate.
Participation at the convention, allowed for interactions between exhibitors and high-level executives and influential decision makers and stakeholders who come to BIO to discover new entities in the biotech sector, form partnerships and evaluate emerging technologies. The Exhibition Hall of the BIO International Convention featured more than 1,700 exhibitors, including the leading biotech companies, the top 25 pharmaceutical companies, the top 20 Contract Research Organizations and Contract Manufacturing Organizations, more than 300 academic institutions, major research laboratories, government agencies from around the world and the leading consultants and service companies.
Nuvilex (OTCQB:NVLX) is a clinical stage biotechnology company focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a proprietary cellulose-based live-cell encapsulation technology known as Cell-in-a-Box®. This unique and patented technology will be used as a platform upon which treatments for several types of cancer, including advanced inoperable pancreatic cancer, and diabetes are being built. Nuvilex's treatment for pancreatic cancer involves the widely used anticancer prodrug ifosfamide, together with encapsulated live cells, which convert ifosfamide into its active or "cancer-killing" form. Nuvilex is also working towards clinical trials associated with the symptoms of advanced pancreatic cancer and other abdominal cancers.
Nuvilex's subsidiary, Medical Marijuana Sciences, is dedicated to the development of cancer treatments based upon chemical constituents of marijuana known as cannabinoids. It will examine ways to exploit the benefits of Cell-in-a-Box® technology in optimizing the anticancer effectiveness of cannabinoids against cancers while minimizing or eliminating the debilitating side effects usually associated with cancer treatments. This provides Medical Marijuana Sciences a unique opportunity to develop "green" approaches to fighting deadly cancers, such as those of the pancreas, brain, breast and prostate, that affect hundreds of thousands of individuals worldwide every year.
This press release may contain forward-looking statements regarding Nuvilex and its future events and results that involve inherent risks and uncertainties. The words "anticipate," "believe," "estimate," "expect," "intend," "plan" and similar expressions, as they relate to Nuvilex or its management, are intended to identify forward-looking statements. 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 Nuvilex's ability to continue as a going concern, delays in clinical trials or flaws or defects regarding its products, changes in relevant legislation or regulatory requirements, uncertainty of protection of Nuvilex's intellectual property and Nuvilex's continued ability to raise capital. Nuvilex does not assume any obligation to update any of these forward-looking statements.
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