Nuvilex Announces Name Change to PharmaCyte Biotech
January 07 2015 - 9:30AM
Nuvilex, Inc. (OTCQB:NVLX) today announced that the Company has
changed its name to PharmaCyte Biotech, Inc. Shares in PharmaCyte
Biotech will trade under the new ticker symbol "PHCB" on the OTCQB
electronic platform. The new symbol is expected to become
effective at the open of the market on January 8, 2014. The
name change is part of the Company's transformation process to
operate solely as a pure biotechnology firm leveraging its
Cell-in-a-Box® technology, a proprietary cell encapsulation
platform being utilized to develop "targeted" treatments for solid
cancerous tumors and insulin dependent diabetes.
"Over the past year, we've implemented an aggressive strategy to
facilitate the advancement of the treatments we are developing for
cancer and diabetes, with our Cell-in-a-Box® technology at the core
of these treatments. Our new name reflects the tremendous progress
we've accomplished in terms of clinical development and signifies
the structural completion of our transition to becoming a fully
dedicated biotechnology company," said Kenneth L. Waggoner, Chief
Executive Officer of PharmaCyte Biotech.
Some of the highlights in 2014 that have marked this transition
include:
- Receiving "orphan drug" designation from the U.S. Food and Drug
Administration (FDA) for the Company's pancreatic cancer treatment,
with applications filed with the EMA and the TGA for the same
status in Europe and Australia.
- Development of a clinical protocol for a planned Phase 2b
clinical trial with the goal of initiating the clinical trial in
2015.
- A preclinical study being completed evaluating the
effectiveness of the Company's pancreatic cancer treatment on the
accumulation of malignant ascites fluid often associated with the
growth of abdominal cancers with positive results that have led to
a follow-up study about to be launched.
- The establishment of a world-wide Diabetes Consortium with a
number of research agreements now in place with major universities
and institutions that will permit the development of a
break-through treatment for insulin dependent diabetes that
combines Cell-in-a-Box® with insulin-producing cells.
- Progression at the University of Northern Colorado in the
pursuit of treatments for brain and other forms of difficult to
treat cancers that will combine cannabinoid or cannabinoid-like
compounds with the Cell-in-a-Box® technology.
"With exciting developments on the horizon for 2015, our work to
develop treatments for both cancer and diabetes will move forward
under our new name because it speaks to what we actually do here at
PharmaCyte Biotech," concluded Mr. Waggoner.
About PharmaCyte Biotech
PharmaCyte Biotech 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.
PharmaCyte Biotech's treatment for pancreatic cancer involves low
doses of the well-known anticancer prodrug ifosfamide, together
with encapsulated live cells, which convert ifosfamide into its
active or "cancer-killing" form. These capsules are placed as close
to the cancerous tumor as possible to enable the delivery of the
highest levels of the cancer-killing drug at the source of the
cancer. This "targeted chemotherapy" has proven remarkably
effective in past clinical trials. In addition, PharmaCyte Biotech
is working towards improving the quality of life for patients with
advanced pancreatic cancer and on treatments for other types of
solid cancerous tumors. PharmaCyte Biotech is also developing
treatments for cancer based upon chemical constituents of marijuana
known as cannabinoids. In doing so, PharmaCyte Biotech 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 PharmaCyte
Biotech the rare opportunity to develop "green" approaches to
fighting deadly diseases, such as cancer of the pancreas, brain and
breast, which affect hundreds of thousands of individuals worldwide
every year.
Safe Harbor
This press release may contain forward-looking statements
regarding PharmaCyte Biotech 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 PharmaCyte Biotech or its
management, are intended to identify forward-looking statements.
Important factors, many of which are beyond the control of
PharmaCyte Biotech, could cause actual results to differ materially
from those set forth in the forward-looking statements. They
include PharmaCyte'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 PharmaCyte
Biotech's intellectual property and PharmaCyte Biotech's continued
ability to raise capital. PharmaCyte Biotech does not assume any
obligation to update any of these forward-looking statements.
More information about PharmaCyte Biotech can be found at
www.PharmaCyteBiotech.com. It can also be obtained by contacting
Investor Relations.
CONTACT: Investor Relations Contacts:
Jamien Jones
Blueprint Life Science Group
Telephone: 415.375.3340 Ext. 103
jjones@bplifescience.com