LONDON, UNITED KINGDOM--(MARKET WIRE)--Feb 21, 2008 -- NextGen Bioscience, Inc. ("NextGen") (OTC BB:NXGB.OB - News), a biotechnology company that develops novel therapeutic proteins that disrupt the advance of life-threatening cancers, today announced it is in collaboration negotiations with SymbioTec GmbH ("SymbioTec), a German company that has developed and patented an effective and commercially attractive cancer-fighting compound. The two companies have signed a Letter of Intent to come to a collaboration agreement.
Konstantinos Kardiasmenos, CEO of NextGen, stated, "A strategic collaboration with SymbioTec would be a significant step in propelling both companies forward in our mutual goals to satisfy the lucrative and unmet demand for novel approaches to treating cancer. SymbioTec's drug ONCOHIST is the first genetically engineered derivative of a body's own protein which is capable of destroying cancer cells. The drug uses an approach fundamentally different from all currently used methods and represents a real potential to replace existing cancer therapies."
Both companies have expressed confidence in forming a mutually beneficial alliance.
About SymbioTec GmbH
SymbioTec GmbH ("SymbioTec") is a private German company with the goal of developing and marketing innovative cancer-fighting products, with a focus on leukemia and breast cancer. The company's products are optimised derivatives of naturally occurring proteins and peptides, especially histone derivatives. By using the body's own protein-derivatives for the development of a completely new class of drugs, SymbioTec expects to revolutionize the treatment of cancer and infectious diseases.
ONCOHIST is a non-toxic component of the innate human immune system that selectively attacks only cancer cells, which, by their nature, are pathologically altered. Cell culture and in vivo studies demonstrated that ONCOHIST is active against a variety of solid tumors like breast, ovarian and lung cancer as well as blood cancer types including drug-resistant cancers. Due to its unique mode of action and promising clinical outcomes, SymbioTec expects that ONCOHIST will act synergistically with several classes of approved cancer drugs in combination therapies or has the potential to replace current chemotherapies.
SymbioTec was founded by Drs. Volker Rusch and Michael Zeppezauer and started its operative business in 1999 in the Starterzentrum (start-up centre) of the University of the Saarland in Germany. In 2001 the company moved to the Science Park Saar 1 at the campus of the Saarland University.
For more information about SymbioTec, please visit: www.symbiotec.biz.
About NextGen Bioscience Inc.
NextGen is positioning itself as the world's leading bioscience company in the development and commercial licensure of novel therapeutic proteins that disrupt the advance of life-threatening cancers. The company leverages cutting-edge research collaborations to achieve breakthroughs in anti-cancer treatments, and then licenses these patented drug product candidates to Big Pharmaceutical and Biotechnology companies.
At present, NextGen is rapidly building its portfolio of proprietary biotechnology. NextGen's target market --cancer treatments-- is the largest disease market, exploding at a 20% growth rate each year. NextGen's treatment niche is based on recent discoveries that indicate that many tumors are derived from a single cancer-initiating cell population, which has stem cell properties (a cancer stem cell). NextGen has chosen to concentrate on identification of certain cell-specific characteristics, making it possible to identify precursor cells of tumors, and then conduct a more extensive 'fingerprinting' profile that will enable the development of cell-specific anti-cancer treatments. This will result in a 'tailor made' cancer treatment strategy that is superior to existing therapies in its ability to eradicate malignant cells whilst leaving healthy tissue intact.
Statements about NextGen's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. NextGen's actual results could differ materially from expected results. NextGen undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
For more information about NextGen Bioscience Inc., or to schedule an interview with Mr. Kardiasmenos, please contact Graham May at +44 20 7247 8186 or email@example.com.
NextGen Bioscience Inc.
+44 (0) 20 7247 8186
+44 (0) 20 7377 9454 (FAX)
Source: NextGen Bioscience, Inc.