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Austrianova's Thai Subsidiary Signs Agreement With Thailand Science Park For Lab And Office Facilities Near Bangkok

3/7/2014 8:43:09 AM

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March 7, 2014 -- Austrianova anno unced today that it s wholly owned Thai subsidiary , that was established last year , has signed an agreement with Thai land Science Park (TSP) to rent lab oratory and of fice space on the TSP campus just outside of Bangkok. The TSP is a state of the art, newly custom built , hi -­- tech campus that houses around 60 leading internationa l biotech and Pharma companies and thus is an ideal location for Austrianova’s activities. Thailand was chosen as the location for the facilities because of that country’s commitment to making TSP a life sciences hub for all of Southeast Asia, as well as the well -­- educated workforce and econ omic in centives by the Thai government. Thailand is a founding member of ASEAN, the Association of Southeast Asian Nations.

“We are pleased to announce the expansion of Austrianova into Thailand and the recruitment of our first two Thai employees ” said Austrianova Chairman Walter H. Gunzburg. “ Acquiring lab and office space at TSP is important for us since t his is the first step in establishing the GMP compliant production of encapsulated cell products for clinical trials. One of Austrianova’s strategic partners f or these studies is the listed U.S. biotech company , Nuvilex Inc .”

“Austrianova is now located at two premier South East Asian hubs , Biopolis in Singapore and Thailand Science Park in Bangkok, as well as having a presence in the U . K . , Germany and Austria, reflecting the global nature of our activities ” said Brian Salmons, C

About Austrianova

Austrianova is a biotech company that utilizes a proprietary , novel living cell encapsulation technology for mammalian ("Cell -­- in -­- a -­- Box ® ") an d bacterial ( “Bac -­- in -­- a -­- Box ® ”) cells . Cell -­- in -­- a -­- Box ® protects the encapsulated living cells from rejection by the immune system, allows cells to be easily transported, stored and implanted at specific sites in patients. T he technology, which has been proven safe in clinical trials carried out in Europe, allows companies to develop one generic cell line for use as a living pharmaceutical in all patients suffering from a particular disease. Bac -­- in -­- a -­- Box ® is a similar protective device for probiotic and other b acteria.

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