SILVER SPRING, Md., Oct. 20, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), a clinical-stage biotechnology company developing cell and gene therapy solutions for the treatment of diseases, announced today that it has entered into a Collaborative Research Agreement (CRA) with the University of Veterinary Medicine in Vienna, Austria (University). The CRA calls for the University to perform "in vitro" and animal studies that use the Cell-in-a-Box® cellulose-based live cell encapsulation technology to develop a new treatment for insulin-dependent diabetes. Nuvilex has been granted worldwide, royalty-free, rights to use the results of the research conducted by the University for all commercial purposes.
Nuvilex's CEO and President, Kenneth L. Waggoner, said of the agreement, "The signing of the Collaborative Research Agreement with the University represents a significant development for Nuvilex. There are several individuals at the University who are exceedingly familiar with the Cell-in-a-Box® technology. Most notably is Prof. Dr. Walter H. Günzburg, who is a co-developer of the technology and Nuvilex's Chief Scientific Officer. Dr. Günzburg has also played a major role in the development of our pancreatic cancer treatment that is based on the Cell-in-a-Box® technology. We consider our new relationship with the University to be a "major salvo" as we join the battle to find a better treatment option for the many millions of people around the world who suffer from insulin-dependent diabetes. In addition, having the University 'on board' lays the foundation for the establishment of a Diabetes Consortium that we hope will, in the relatively near future, come to include institutions and individuals throughout Europe as well as other countries as we strive to develop a 'bio-artificial' pancreas."
Among the initial studies to be performed by the University will be the testing of an insulin-producing cell line developed by the University of Technology, Sydney, to determine whether that cell line has the potential to form tumors when implanted into animals; i.e. whether those cells are "tumorigenic." If this cell line proves to be non-tumorigenic, then cells from this cell line will be encapsulated using the Cell-in-a-Box® technology.
Additional animal studies will be carried out at the University to determine if these encapsulated cells can act as a form of "bio-artificial pancreas" in animal model systems. Dr. Günzburg and his associates have already worked with these insulin-producing cells in an in vitro setting and have confirmed that they can produce insulin in direct response to the levels of glucose (sugar) to which they are exposed.
Waggoner added, "The establishment of this relationship with the University of Veterinary Medicine Vienna marks an important stage in the development of Nuvilex as a multi-dimensional biotech company. In addition to our work in the cancer arena, we are now involved in the development of a novel treatment for diabetes. This is an area of medicine that affects over 380 million individuals worldwide and where improvements in treatment are constantly needed. We believe that the true platform nature of the Cell-in-a-Box® encapsulation technology will prove to be a major asset and will ultimately set Nuvilex apart from other competitors in this field."
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 low doses of the anticancer prodrug ifosfamide and encapsulated live cells that convert ifosfamide into its active or "cancer-killing" form. Nuvilex is also working towards improving the quality of life for patients with advanced pancreatic cancer and on treatments for other types of cancer using the Cell-in-a-Box® technology. In addition, Nuvilex is developing cancer treatments based upon chemical constituents of Cannabis, known as cannabinoids. To do so, Nuvilex is examining ways to exploit the benefits of the Cell-in-a-Box® technology in optimizing the anticancer effectiveness of cannabinoids, while minimizing or outright eliminating the debilitating side effects usually associated with cancer treatments. This provides Nuvilex a unique opportunity to develop "green" approaches to fighting deadly cancers, such as those of the pancreas, brain and breast, which affect hundreds of thousands of individuals worldwide every year.
This press release may contain forward-looking statements regarding Nuvilex and its future plans 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 its forward-looking statements.
More information about Nuvilex can be found at www.nuvilex.com. It can also be obtained by contacting Investor Relations.
CONTACT: Investor Relations Contacts: Clare Matschullat Blueprint Life Science Group Telephone: 415.375.3340 Ext. 106 email@example.com