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Viratech Announces Acquisition of Cancer.im for $6.2 Million in Securities


12/20/2012 7:15:25 AM

STOCKTON, CA--(Marketwire - December 20, 2012) -

Viratech Corp. (PINKSHEETS: VIRA) http://viratech.org, the first open source biotech research social network platform, announced today an acquisition merger with Cancer.im, Inc., in exchange for $6.2 million in Viratech restricted common stock.

Cancer.im, Inc. owns and operates http://cancer.im, a social network resource site for cancer patients, survivors, advocates, and volunteers. Cancer.im harnesses social collaboration utilities to develop what Viratech believes will become the first experience-based search engine powered by social collaboration. The site is scheduled to go from beta testing to full use on February 15, 2013. To learn more about the vision and potential of Cancer.im, see the explanatory video at http://www.youtube.com/watch?v=dz1tHRb3wvU&feature=youtu.be or visit the site at http://cancer.im

"I am excited about this merger because every cancer survivor has a unique story to tell. The hindsight and experiences of those who have already 'been there' are invaluable to patients currently battling the disease. Members of the Cancer.im network can find survivors who have lived through a specific type and stage of cancer. They can learn from these survivors what to expect with the benefit of lowering anxiety, giving them a higher sense of control and helping them craft their own customized strategy to help them battle their disease, based on their own values, beliefs and medical resources, thus giving the cancer patient a higher confidence in the treatment regimen they are going through," states Dr. Kevin Buckman, CEO of Viratech.

Cancer.im's mission is to empower every cancer patient, regardless of their ability to pay, with the power to research their disease and to find, organize, and manage their own cancer support network. The goal of these support networks is to assist the patient in conserving needed energy by reducing the burden associated with their own daily trials and tribulations. Cancer.im will strive to convert this saved energy into a higher level of patient activity and a stronger determination to fight their disease.

Unlike other social networks, Cancer.im was designed by a team that is dedicated to specifically serve the unique needs of those currently struggling with the disease. This new network combines databases of medical community knowledge, repositories of wisdom from cancer survivors, systems for helping cancer patients organize their records and various facets of their treatment, and tools that allow patients and their supporters to work together effectively. In short, Cancer.im provides everything a cancer patient, friend, or family member is looking for to help in the fight against the disease, all in one online location and easy-to-use format.

"We can lower the incidence of morbidity -- regardless of treatment -- as substantiated by a number of medical studies, by raising the quality of life of the cancer patient including a 2009 study in the Journal of Clinical Oncology called 'Quality of life supersedes the classic prognosticators for long-term survival in locally advanced non-small-cell lung cancer.' To do all this we have fifteen best-practice modules featured on the Cancer.im. web site. Each one is organized to provide specific resources to help cancer patients, families, and health providers," states Dr. Buckman.

In addition, he adds, "Our tools enable permission controlled social networking groups, and can help convert friends and family from a state of being helpless to being helpful. They can actually increase the cancer patient's quality of life. Simultaneously we can empower the cancer patient with the ability to tap the experiences of other cancer survivors. Additionally, they can create their own customized strategy to fight their own cancer, based on their own values, beliefs, and resources."

Through its experience-based search engine and next-generation technology, Cancer.im's goal is to become the primary resource on the web for people affected by cancer, for the purpose of making a difference in their own lives and the lives of others.

About Viratech Corp.
Based in Stockton, California, Viratech Corp. has created an open source biotech research and development platform. Viratech has created a unique platform leveraging the utility of social collaboration, which will allow biotech research the opportunity for the first time to become open sourced. This is accomplished by allowing our development partners the ability to protect, promote and produce their research in unified online collaboration hubs known as micro social networks. Viratech's open source platform has integrated several intellectual property tools which, by leveraging our social collaboration network, can give our development partners a new intellectual property mechanism, which will help in addressing the protection of Intellectual Property, promotion through collaboration in our protected open source platform, and commercial development of the products achieved through collaborative research.

Using this platform, Viratech members can protect their intellectual property, then use Viratech's micro social network as a utility to promote and crowdfund the research and development to produce the new technology.

Forward-Looking Statements:

This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.


Contact:
Kevin Buckman MD
Viratech Corp.
http://viratech.org
209-377-3030
Email Contact: Email Contact

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