KNOXVILLE, TN, May 25, 2021 (GLOBE NEWSWIRE) -- Provectus (OTCQB: PVCT) today announced that the State of Tennessee, as part of its fiscal year 2021-2022 budget, has directed funding in the amount of $2.5 million to develop animal health drug products through partnerships with state universities that have agriculture and veterinary medicine programs and the Knoxville-headquartered biotechnology company.
This study will pursue oncology, hematology, and dermatology treatments for companion and production animals, furthering research in these areas and eventual drug development. The foundation of this study is the Company’s halogenated xanthene medical science platform that already includes:
- Safety and efficacy data from companion animal study of solid tumor cancers, such as fibrous histiocytoma, mast cell, melanoma, squamous cell carcinoma, and transitional cell carcinoma; intratumoral, intravesical, intrahepatic, and intraprostatic drug administration,
- Human clinical study of solid tumor cancers; cutaneous and percutaneous intratumoral administration,
- Preclinical study of human solid tumor cancers; oral administration,
- Murine model study of human pediatric solid tumor cancers; intratumoral administration,
- Murine model study of human pediatric leukemias; oral administration, and
- Human clinical study of inflammatory dermatoses; topical administration (as well as preclinical study of systemic administration).
Ed Pershing, Chair of Provectus’ Board of Directors (Board) said, “We are profoundly grateful to the State of Tennessee, the Tennessee General Assembly, and everyone who wrote letters of support on behalf of this project. We are deeply appreciative of the state’s commitment to supporting Tennessee-based companies and innovation by making a significant investment in a burgeoning public-private partnership.”
John “Jack” Lacey, III, MD, Board member and Chair of Provectus’ Strategic Advisory Board added, “A shared critical goal of the state and our company is to meet the health-related needs of our local communities, which we can begin to achieve by collaborating with state universities in Tennessee that have agriculture and veterinary medicine programs to advance animal health research and drug development.”
Dominic Rodrigues, Board Vice Chair concluded, “Developing treatments for animal cancers and dermatological disorders is a data-driven expansion of Provectus’ small molecule medical science platform. Spontaneous cancers in dogs and cats share features found in human cancers, and dogs and children both develop a number of spontaneous cancers. We believe knowledge gained from our human clinical studies and disease research should benefit animals, and learnings from this animal health drug development work should increase the understanding of disease biology for the further clinical benefit of people and children.”
About Provectus
Provectus Biopharmaceuticals, Inc. (Provectus or the Company) is a clinical-stage biotechnology company developing immunotherapy medicines for different disease areas based on an entirely- and wholly-owned family of small molecules called halogenated xanthenes. Information about the Company’s clinical trials can be found at the National Institutes of Health (NIH) registry, www.clinicaltrials.gov. For additional information about Provectus, please visit the Company's website at www.provectusbio.com.
FORWARD-LOOKING STATEMENTS: The information in this press release may include “forward-looking statements,” within the meaning of U.S. securities legislation, relating to the business of Provectus and its affiliates, which are based on the opinions and estimates of Company management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “budget,” “plan,” “continue,” “estimate,” “expect,” “forecast,” “may,” “will,” “project,” “predict,” “potential,” “targeting,” “intend,” “could,” “might,” “should,” “believe,” and similar words suggesting future outcomes or statements regarding an outlook.
The safety and efficacy of the agents and/or uses under investigation have not been established. There is no guarantee that the agents will receive health authority approval or become commercially available in any country for the uses being investigated or that such agents as products will achieve any particular revenue levels.
Due to the risks, uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof or as of the date specifically specified herein, and Provectus undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.
Risks, uncertainties, and assumptions include those discussed in the Company’s filings with the SEC, including those described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and Provectus’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.
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Contact:
Provectus Biopharmaceuticals, Inc.
Heather Raines, CPA
Chief Financial Officer
Phone: (866) 594-5999