SK3 Group, Inc. Announces $25M Sale of Biomolecules To Malaysian Company
May 04 2010 - 2:12PM
Marketwired
SK3 Group, Inc. (PINK SHEETS: SKTO) today announces that it has
signed an agreement with Ananda Sdn. Bhd. ("Ananda") to sell the
Malaysian company biomolecules for $25M.
Ananda's acquisition of the biomolecule inventory is expressly
for medical end-use. Among the biomolecules that are subject of
this agreement are some that have been identified as suitable for a
number of healthcare uses including anti-viral activity, tissue
growth, and treatments of some types of cancer. For example,
Interleukin-2 ("IL-2") is an immune modulator used to treat some
types of cancer, and has already been approved by the FDA.
The biomolecules are produced as a by-product of the proprietary
and patented adult stem cell regeneration technology owned by
Regenetech (www.regenetech.com). Discovia Life Sciences, the
biotechnology and advanced life sciences holding portfolio of
parent company Healthcare of Today, sold SK3 Group the biomolecules
earlier this year.
Ananda's corporate mission is to market biomolecules in addition
to carrying out clinical trials and applications for therapeutic
treatment utilizing adult stem cells obtained abroad for treatment
in the Southeast Asia region. Ananda will provide medical and
therapeutic treatments with the aim of enhancing quality of life.
Ananda's offered treatments will be based on the stringent
bioethics and corporate social responsibilities of the geographic
region in which Ananda operates.
In 2009 SK3's parent company, Healthcare of Today, Inc., entered
into a Letter of Intent for a joint venture with the state
government of Sarawak for the building and operation of a
state-of-the-art stem cell research and treatment facility in
Malysia. Sarawak is the largest state in the Federation of
Malaysia, located on the western side of the island of Borneo. That
joint venture is still under negotiation and will be pursued
through SK3.
About Healthcare of Today, Inc.
Healthcare of Today is a vertically integrated healthcare
holding company. Founded in 2008, it has since acquired a number of
companies, many specializing in the senior care industry. Its
direct and indirect subsidiaries are engaged in a wide range of
businesses including: nurse staffing, residential care facilities
for the elderly, home healthcare services, home healthcare
equipment sales, healthcare IT, medical devices, healthcare
consulting, insurance, data security, biotechnology, and
alternative energy. For further information please visit
www.healthcareoftoday.com.
About SK3 Group, Inc.
SK3 Group offers a range of services in the healthcare industry.
In addition to offering the most valued healthcare services in the
industry today, including hospice care, the company provides
supportive healthcare business services. Further information can be
found at http://www.sk3groupinc.com.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release may contain forward-looking
information within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, including statements that include the words
"believes", "expects", "anticipates" or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements to differ materially from those
expressed or implied by such forward-looking statements. This news
release speaks as of the date first set forth above and no
responsibility or obligation may be assumed or exists to update the
information included herein for events occurring after the date
hereof.
Contacts: SK3 Group, Inc. Kelvin Pan (866) 963-2417 x 805
info@sk3groupinc.com www.sk3groupinc.com
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