Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Nuvilex, Inc., an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, has acquired the exclusive worldwide rights to use the cellulose-based live-cell encapsulation technology for the development of treatments for diabetes from SG Austria Pte. Ltd.
Nuvilex has secured $1.5 million in funding through the sale of restricted stock to accredited investors at a fixed price of $0.15 per share, a premium to the current market price per share, to complete this acquisition. One million dollars of the funds will be used for this acquisition. The balance of the funds will be used for ongoing preparations for Nuvilex's phase III clinical trials in pancreatic cancer.
Nuvilex's decision to make the acquisition stems, in large part, from the results of "proof-of-principle" studies in which cells that produce insulin were transplanted into diabetic animals.
http://www.pharmabiz.com/NewsDetails.aspx?aid=78667&sid=2
Nuvilex has secured $1.5 million in funding through the sale of restricted stock to accredited investors at a fixed price of $0.15 per share, a premium to the current market price per share, to complete this acquisition. One million dollars of the funds will be used for this acquisition. The balance of the funds will be used for ongoing preparations for Nuvilex's phase III clinical trials in pancreatic cancer.
Nuvilex's decision to make the acquisition stems, in large part, from the results of "proof-of-principle" studies in which cells that produce insulin were transplanted into diabetic animals.
http://www.pharmabiz.com/NewsDetails.aspx?aid=78667&sid=2