SILVER SPRING, Md., March 6, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today that its strategic partner, Austrianova, has signed a contract to establish regional Headquarters and a research and development facility at the Thailand Science Park (TSP) near Bangkok, Thailand. These facilities will be used for the encapsulation, using the Cell-in-a-Box™ technology, of live cancer prodrug-activating cells that are part of Nuvilex's pancreatic cancer treatment and that will be used in the Company's late-phase clinical trials involving this deadly disease.
The TSP is a state of the art, newly conceived and built, high-tech campus that already is home to approximately 60 leading international biotech and pharma companies. In addition to housing leading Thai companies, entities from the USA, Germany, Japan and other countries have facilities in the TSP.
Development by Austrianova of a presence at this premier research and development facility in South East Asia is a further step in preparing for the encapsulation of the cancer drug-activating cells that are part of Nuvilex's treatment for advanced pancreatic cancer. Thailand was chosen as the location for the facility because of that country's commitment to making the TSP a life sciences hub for all of Southeast Asia, economic incentives by the Thai government, the well educated workforce that resides in Thailand and because Thailand is a founding member of ASEAN, the Association of Southeast Asian Nations. Nuvilex plans to outsource its live-cell encapsulation needs to Austrianova.
Nuvilex's treatment for advanced pancreatic cancer consists of using low doses of the well-known anticancer agent ifosfamide together with cells capable of converting ifosfamide into its cancer-killing form that have been encapsulated using the proprietary Cell-in-a-Box™ technology. Preparations are currently under way for late-phase clinical trials in pancreatic cancer using this treatment. These future trials are designed to build upon the promising results that were obtained in the previous Phase 1/2 clinical trials (please see http://www.nuvilex.com/pancreatic-cancer).
Kenneth L. Waggoner, Nuvilex's CEO and President commented, "By Austrianova establishing a research and development facility and Headquarters in Thailand means that a significant milestone has been reached along Nuvilex's path towards its late-stage clinical trials in advanced, inoperable pancreatic cancer. This facility is needed in order to establish the cGMP compliant production facility for the encapsulation of cell products for clinical trials. We would like to thank our colleagues at Austrianova for completing this important step in helping Nuvilex to prepare for its future clinical trials in pancreatic cancer. We are looking forward to working closely with Austrianova as those preparations continue."
About Nuvilex:
Nuvilex is a biotechnology company focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a proprietary cellulose-based live-cell encapsulation technology, called Cell-in-a-Box(TM). This unique 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. The Company's treatment for pancreatic cancer involves the use of the widely used anticancer prodrug, ifosfamide, together with encapsulated live cells that convert ifosfamide into its active or "cancer-killing" form. Nuvilex's subsidiary, Medical Marijuana Sciences, Inc., is dedicated to the development of cancer treatments based upon chemical constituents of marijuana known as cannabinoids. To do so, it will examine ways to exploit the benefits of Cell-in-a-Box(TM) technology in optimizing the anticancer effectiveness of cannabinoids against cancers while minimizing or outright eliminating the debilitating side effects usually associated with cancer treatments. This provides Medical Marijuana Sciences a unique opportunity to develop "green" approaches to fighting deadly cancers, such as those of the pancreas, brain, breast, and prostate, that affect hundreds of thousands of individuals worldwide every year. For more information, please visit http://www.nuvilex.com and http://www.medicalmarijuanasciences.com/.
Safe Harbor:
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 in clinical trials or flaws or defects regarding its products, 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 and Medical Marijuana Sciences can be found at www.nuvilex.com and www.medicalmarijuanasciences.com. It can also be obtained by contacting Investor Relations.