SILVER SPRING, Md., Nov. 21, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), a clinical-stage biotechnology company providing cell therapy solutions for the treatment of diseases, announced today Nuvilex's Chief Executive Officer, Kenneth L. Waggoner, and Chief Operating Officer, Gerald W. Crabtree, Ph.D., are in Singapore to finalize the Diabetes Consortium that will develop a treatment for insulin dependent diabetes, to negotiate an additional worldwide, exclusive license to use Cell-in-a-Box® live cell encapsulation with cannabinoids to treat diseases and related symptoms and to tour the new facilities of Austrianova in Singapore. Mr. Waggoner and Dr. Crabtree will also be attending the grand opening of the cGMP (current Good Manufacturing Practices) facility in Thailand where the cells required for Nuvilex's preclinical and clinical trials will be encapsulated using the Cell-in-a-Box® technology.
Mr. Waggoner and Dr. Crabtree visited Austrianova's headquarters at Biopolis, Singapore today. As well as viewing Austrianova's current lab and office space in Centros, they viewed the new, larger facility in Synapse, part of the newly built Phase 3 of Biopolis, where Austrianova will take up residence on December 1, 2014. The new state-of-the-art laboratory and office space has been custom built for Austrianova.
Biopolis, which just celebrated its 11th anniversary, has established a reputation as a world-class biomedical research hub and has established Singapore as a center of scientific excellence. As such, Biopolis plays a pivotal role in bringing together major research institutes to create a center of excellence in the biomedical sciences and serves as a focal point to attract and groom top scientific talent to do world-class research in Singapore. As part of the Singapore visit, Mr. Waggoner and Dr. Crabtree also met with some of Austrianova's key shareholders to further develop the close relationship between the two companies and to emphasize and establish additional common goals shared by both entities.
Discussions are scheduled to finalize a number of new and existing projects, both at the scientific and commercial level. They will involve participation of academic colleagues from around the globe.
Dr. Brian Salmons, CEO of Austrianova said, "This multipurpose meeting has been extremely important in setting the course for the next year, as well as aligning the aims and goals of all parties involved. It has been a pleasure to host Mr. Waggoner and Dr. Crabtree in Southeast Asia and to welcome them to our facilities in Singapore and Thailand." Mr. Waggoner stated, "This has been a very rewarding trip, and we look forward in the coming days to bring to fruition the plans we have discussed during our visit."
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 well-known anticancer prodrug ifosfamide, together with encapsulated live cells, which 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 solid cancerous tumors. In addition, Nuvilex is developing treatments for cancer based upon chemical constituents of marijuana known as cannabinoids. Nuvilex is examining ways to exploit the benefits of 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 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.
CONTACT: Investor Relations Contacts: Clare Matschullat Blueprint Life Science Group Telephone: 415.375.3340 Ext. 106 Cmatschullat@bplifescience.com