PharmaCyte Biotech Enters Into Research and Consulting Agreements With University of Technology Sydney
June 23 2015 - 9:25AM
PharmaCyte Biotech, Inc. (OTCQB:PMCB), a clinical stage
biotechnology company focused on developing targeted treatments for
cancer and diabetes using its signature live-cell encapsulation
technology, Cell-in-a-Box®, announced today that it has signed a
major Research Services Agreement and an important Consulting
Contract with the University of Technology Sydney (UTS) in
Australia. Both of these contracts concern the development of
PharmaCyte Biotech’s treatment for insulin-dependent diabetes that
is comprised of proprietary human non-pancreatic insulin-producing
cells (Melligen cells) that are to be encapsulated using its
cellulose-based live cell encapsulation technology known as
Cell-in-a-Box®.
The Research Services Agreement is designed to
provide funding to UTS that will permit Prof. Ann Simpson, the
world’s foremost authority on the Melligen cells, and her
colleagues at UTS to conduct pivotal studies with Melligen cells in
order to help fully characterize the parameters by which these
cells produce insulin “on demand” when they are encapsulated using
the Cell-in-a-Box® technology. The Consulting Contract will allow
Prof. Simpson to devote a sufficient amount of her time to working
with PharmaCyte Biotech and its international Diabetes Consortium
as it pursues the development of its diabetes treatment for insulin
dependent diabetes.
“Kenneth L. Waggoner, PharmaCyte Biotech’s Chief
Executive Officer, commented, “The Research Services Agreement and
Prof. Simpson’s Consulting Contract are extremely important and
very necessary as PharmaCyte Biotech pursues its goal of developing
a treatment for insulin-dependent diabetes. We are particularly
pleased that Prof. Simpson has agreed to join us as a consultant
because, not only was she a founding member of our Diabetes
Consortium, her expertise in dealing with the Melligen cells will
undoubtedly continue to be indispensable as we move forward in our
efforts to find an effective treatment for all those who are in
need of insulin to live a normal life.”
About PharmaCyte BiotechPharmaCyte 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 chemotherapy 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
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. PharmaCyte Biotech 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, PharmaCyte Biotech is developing
treatments for cancer based upon chemical constituents of the
Cannabis plant, 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 HarborThis 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
preclinical and clinical trials, 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.PharmaCyte.com. It can also be obtained by contacting
Investor Relations.
Investor Relations:
PharmaCyte Biotech, Inc.
Investor Relations Department
Telephone: 917.595.2856
Email: Info@PharmaCyte.com