SAN DIEGO--(BUSINESS WIRE)--Entest BioMedical Inc. announced today that it has signed a letter of intent to acquire Therinject LLC. Therinject LLC is involved with Cancer Research, marker testing / development and “bead” formation used in vaccine development. Company Chairman David Koos noted, “Entest BioMedical has already established a joint venture with Therinject LLC and Bio-Matrix Scientific Group Inc. (OTCBB: BMSN - News). I believe this is an obvious natural fit and removes any potential conflicts between each company’s goals.”
Therinject’s Managing Principal, Steven Josephs, PhD stated, “I have been involved with new develops taking place at Entest for some time. I’m excited that Therinject will become an Entest company. I believe we are doing some extremely important work in cancer treatment, COPD and potentially Multiple Sclerosis. With the linking of these companies together, we should get further in our research at a much faster pace.”
Once a definitive agreement is in place, Therinject LLC will become a wholly owned subsidiary of Entest BioMedical Inc. This transaction is subject to reaching final agreement on terms and conditions.
About Entest BioMedical Inc.:
Entest BioMedical Inc. (OTCBB: ENTB - News) is a majority owned subsidiary of Bio-Matrix Scientific Group Inc (OTCBB: BMSN - News). The Company is involved with the development of stem cell therapy treatments for Chronic Obstructive Pulmonary Disease (COPD), immuno-cancer therapies, testing procedures for diabetes, stem cell research applications for diabetes and other illnesses. The Company also is involved with medical device development (including stem cell extraction instrumentation).
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Entest BioMedical Inc.
David R. Koos, Chairman & CEO