SILVER SPRING, Md., Sept. 5, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), a clinical-stage, international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, reported today that its partner, Austrianova, has received the Emerging Enterprises Best Innovation Award for 2014 in Singapore for its innovative Cell-in-a-Box® and Bac-in-a-Box® cell encapsulation technologies. The award was received at a gala ceremony in Singapore that was hosted by the OCBC bank. The Innovation award was sponsored by SingTel.
The Innovation award, first presented in 2008, is given to a small or medium enterprise in Singapore that best exhibits originality and innovation in its business concepts. More than 900 candidates were competing for the Innovation award. These candidates came from many different fields of endeavor and were not limited to the biotech and biomedical arenas. This year's award was presented to Austrianova to recognize its innovative Cell-in-a-Box® and Bac-in-a-Box® cellulose-based live cell encapsulation technologies.
Kenneth L. Waggoner, Nuvilex's CEO and President commented, "We at Nuvilex would like to offer our sincerest congratulations to Dr. Prof. Walter H. Günzburg and Dr. Brian Salmons, co-developers of the Cell-in-a-Box® and Bac-in-a-Box® technologies and officers of Austrianova, and to the entire Austrianova team on receiving this year's prestigious Innovation award. We fervently believe that the studies underway and planned by Nuvilex that employ the Cell-in-a-Box® technology will exhibit the remarkable capabilities of this technology in developing treatments for serious and even deadly diseases such as cancer and diabetes."
The Bac-in-a-Box® technology is concerned with the encapsulation of beneficial bacteria. The Cell-in-a-Box® technology is used to encapsulate human cells. It is this proprietary technology that has been licensed from Austrianova by Nuvilex to serve as a platform for the development of treatments for different forms of cancer and for diabetes. As an example, using the Cell-in-a-Box® technology live cells that are capable of converting the anticancer prodrug ifosfamide are encapsulated and, in combination with ifosfamide, these capsules comprise Nuvilex's treatment for advanced, inoperable pancreatic cancer.
This treatment is currently in preclinical studies being performed by Translational Drug Development (TD2) in the U.S. to determine if it reduces the rate of ascites fluid accumulation in the abdomen that occurs often with abdominal tumors. It will also be examined by TD2 in a clinical trial to determine whether the Cell-in-a-Box®-based treatment can alleviate the unbearable and virtually untreatable pain experienced by most patients with late-stage pancreatic cancer. In addition, preparations are underway for a Phase 2b clinical trial of Nuvilex's pancreatic cancer treatment that will be carried out in Australia.
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.
Austrianova, part of the SG Austria group, is a biotech company with a global footprint and headquarters in Singapore. Austrianova utilizes a novel and proprietary technology for the encapsulation of living mammalian (Cell-in-a-Box®) and bacterial (Bac-in-a-Box®) cells. Cell-in-a-Box® protects the encapsulated cells from rejection by the immune system, and allows cells to be easily transported, stored and implanted in specific sites in patients. The technology, which has been proven to be safe and efficacious in clinical trials carried out in Europe, allows companies to develop any kind of cells as a one-for-all living pharmaceutical. Bac-in-a-Box® is a similar protective device adapted for the encapsulation of probiotic bacteria where it has human food and animal feed applications due to its ability for extending storage under lyophilized conditions and protection in stomach acid.
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 or unsuccessful results in clinical trials or flaws or defects regarding its product candidates, 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.
More information about Nuvilex can be found at www.nuvilex.com. It can also be obtained by contacting Investor Relations.
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