SILVER SPRING, Md., Jan. 29, 2015 (GLOBE NEWSWIRE) -- 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 its partner, Austrianova, has officially opened its new facilities at Synapse within Biopolis in Singapore. Biopolis is a world-class biomedical sciences hub where key research organizations and institutes are located from around the globe. An "open house" event for guests to visit the new facilities in Singapore was held on January 29, 2015. The Chief Executive Officer of PharmaCyte Biotech, Kenneth L. Waggoner, attended the opening ceremonies.
These new facilities include office and laboratory space in a self-contained unit that has been specifically designed and built to accommodate all of the scientific work being undertaken by Austrianova. The work to be carried out in these facilities will be in the areas of molecular and cellular biology, cell culture, analytical purposes and assay development. Importantly, the cellulose-based live cell encapsulation process, known as Cell-in-a-Box®, will be undertaken for research at the laboratory and preclinical levels.
Austrianova will use these facilities to produce the encapsulated cells that will be used for PharmaCyte Biotech's: (i) preclinical studies on the accumulation of malignant ascites fluid that normally accompanies the growth of abdominal cancers being performed by Translational Drug Development (TD2) in the United States; (ii) preclinical studies on other cancers; and (iii) preclinical work and studies to be done in connection with the development of PharmaCyte Biotech's treatment of diabetes. In addition, these new facilities will be used to develop "reprogrammed" cells that may be needed for PharmaCyte Biotech's efforts to develop treatments for serious and deadly cancers that are combinations of the Cell-in-a-Box® technology and cannabinoid or cannabinoid-like compounds.
It is important to differentiate the work that will be done by Austrianova for PharmaCyte Biotech in the new Singaporean facilities from the work to be done by Austrianova in its cGMP (current Good Manufacturing Practices) facilities that opened late last year in Bangkok, Thailand. The Singaporean facilities will be used for cell encapsulation for preclinical studies. The Thailand facilities will be used to encapsulate cells for PharmaCyte Biotech's clinical trial in ascites fluid accumulation and for the clinical trial related to the unbearable pain that accompanies advanced pancreatic cancer that will be done by TD2. The Thailand facilities will also be used for PharmaCyte Biotech's Phase 2b clinical trial of its pancreatic cancer treatment in patients with advanced, inoperable pancreatic cancer being done by Clinical Network Services (CNS) in Australia. PharmaCyte Biotech's treatment in the Phase 2b clinical trial will be compared with the best available therapy for the disease.
Mr. Waggoner stated, "The opening of these new facilities in Singapore represents the achievement of another major milestone for both Austrianova and PharmaCyte Biotech. These new facilities should help greatly facilitate the progress of our preclinical studies in cancer and diabetes. We congratulate our colleagues at Austrianova on this successful achievement. It was an honor to join them during the grand opening celebrations of these remarkable state-of-the-art custom designed laboratory facilities."
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. 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 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 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.PharmaCyteBiotech.com. It can also be obtained by contacting Investor Relations.