Provectus Biopharmaceuticals Establishes Australian Subsidiary
July 14 2016 - 6:00AM
Business Wire
Corporate Structure Better Reflects
International Research Efforts
Provectus Biopharmaceuticals, Inc. (NYSE MKT:PVCT,
www.provectusbio.com), a clinical-stage oncology and dermatology
biopharmaceutical company ("Provectus" or “The Company”), today
announced that it has formed an Australian subsidiary, Provectus
Biopharmaceuticals Australia Pty Ltd. In addition, the Company is
opening a Sydney office in New South Wales.
Peter Culpepper, Interim CEO, stated, “The creation of an
Australian entity is a fundamental part of our plans for extended
global reach in conjunction with planned partnering for
commercialization of PV-10.”
He noted, “Provectus has already been very active in Australia
for years because of our research into PV-10 as an investigational
treatment for melanoma. In fact, we began our phase 1 study of
PV-10 in 2005 at the Sydney Melanoma Unit in North Sydney and the
Newcastle Melanoma Unit in Waratah, both in New South Wales. Since
then, we have also worked with the Princess Alexandra Hospital in
Brisbane, Queensland, the Royal Adelaide Hospital in Adelaide,
South Australia, and the Peter MacCallum Cancer Centre in
Melbourne, Victoria.”
Culpepper concluded, “With a subsidiary in Australia, we are
bringing our corporate structure in line with our scientific work.
Our research and development program has been international from
the very beginning, and now, Provectus is an international company.
The new unit should make it easier to work with the Australian
regulatory authorities, and having an office in the region may
facilitate our work in Asian markets as Sydney is just two hours
ahead of Beijing, Hong Kong and Singapore. If and when PV-10
receives approval in Australia and other nations in the region, we
will have pre-positioned ourselves to develop a sales and marketing
force.”
About Provectus Biopharmaceuticals, Inc.
Provectus Biopharmaceuticals is investigating new therapies for
the treatment of skin cancer, liver cancer and breast cancer.
Provectus’ investigational oncology drug, PV-10, is an ablative
immunotherapy under investigation in solid tumor cancers. The
Company has received orphan drug designations from the FDA for its
melanoma and hepatocellular carcinoma indications. PH-10, its
topical investigational drug for dermatology, is undergoing
clinical testing for psoriasis and atopic dermatitis. Provectus has
completed Phase 2 trials of PV-10 as a therapy for metastatic
melanoma, and of PH-10 as a topical treatment for atopic dermatitis
and psoriasis. Information about these and the Company's other
clinical trials can be found at the NIH registry, www.clinicaltrials.gov. For additional information about Provectus,
please visit the Company's website at www.provectusbio.com or contact Porter, LeVay
& Rose, Inc.
FORWARD-LOOKING STATEMENTS: This release contains
"forward-looking statements" as defined under U.S. federal
securities laws. These statements reflect management's current
knowledge, assumptions, beliefs, estimates, and expectations and
express management's current views of future performance, results,
and trends and may be identified by their use of terms such as
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "will," and other similar
terms. Forward-looking statements are subject to a number of risks
and uncertainties that could cause our actual results to materially
differ from those described in the forward-looking statements.
Readers should not place undue reliance on forward-looking
statements. Such statements are made as of the date hereof, and we
undertake no obligation to update such statements after this
date.
Risks and uncertainties that could cause our actual results to
materially differ from those described in forward-looking
statements include those discussed in our filings with the
Securities and Exchange Commission (including those described in
Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2015) and the following:
- our determination, based on guidance
from the FDA, whether to proceed with or without a partner with the
fully enrolled phase 3 trial of PV-10 to treat locally advanced
cutaneous melanoma and the costs associated with such a trial if it
is necessary to complete (versus interim data alone);
- our determination whether to license
PV-10, our investigational drug product for melanoma and other
solid tumors such as cancers of the liver, if such licensure is
appropriate considering the timing and structure of such a license,
or to commercialize PV-10 on our own to treat melanoma and other
solid tumors such as cancers of the liver;
- our ability to license PH-10, our
investigational drug product for dermatology, on the basis of our
phase 2 atopic dermatitis and psoriasis results, which are in the
process of being further developed in conjunction with mechanism of
action studies; and
- our ability to raise additional capital
if we determine to commercialize PV-10 and/or PH-10 on our own,
although our expectation is to be acquired by a prospective
pharmaceutical or biotech concern prior to commercialization.
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version on businesswire.com: http://www.businesswire.com/news/home/20160714005210/en/
Porter, LeVay & Rose, Inc.Investor RelationsMarlon Nurse,
DM, SVP, 212-564-4700orAllison + PartnersMedia RelationsTodd
Aydelotte, 646-428-0644Managing DirectororProvectus
Biopharmaceuticals, Inc.Peter R. Culpepper, Interim CEO, COO,
866-594-5999 #30
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