SALT LAKE CITY, UT--(Marketwire - May 22, 2009) - Cancer Therapeutics, Inc. (OTCBB: CTHP), an emerging biotechnology business incubator with a specific emphasis on disruptive cancer treatments and nanotechnology, announced today it anticipates a definitive agreement to acquire a minority ownership share of NanoTherapies, LLC will be finalized by the end of this month. The acquisition of a 25% stake in NanoTherapies will be the first acquisition completed by Cancer Therapeutics.
NanoTherapies develops life-changing therapies for cancer treatment based on an evolving set of intellectual properties and patents derived from the exploitation of calcium phosphate nanoparticles for therapeutic and diagnostic applications.
About Cancer Therapeutics, Inc.:
Cancer Therapeutics, Inc. is a biotechnology business incubator, with a specific emphasis on disruptive treatments and nanotechnology. It seeks out disruptive cancer research and technology opportunities to invest in, develop, and commercialize. The end result will be therapies, treatments, and pharmaceuticals targeted at more efficiently and effectively attacking cancer. CTI seeks partners to co-develop drugs in various stages in our pipeline.
Safe Harbor: This letter contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended, which
are intended to be covered by the safe harbors created thereby. Investors
are cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability of the Company to
successfully implement its turnaround strategy, changes in costs of raw
materials, labor, and employee benefits, as well as general market
conditions, competition and pricing. Although the Company believes that the
assumptions underlying the forward-looking statements contained herein are
reasonable, any of the assumptions could be inaccurate, and therefore,
there can be no assurance that the forward-looking statements included in
this letter will prove to be accurate. In light of the significant
uncertainties inherent in the forward-looking statements included herein,
the inclusion of such information should not be regarded as representation
by the Company or any other person that the objectives and plans of the
Company will be achieved. In assessing forward-looking statements included
herein, readers are urged to carefully read those statements. When used in
the Annual Report on Form 10-K, the words "estimate," "anticipate,"
"expect," "believe," and similar expressions are intended to be
forward-looking statements.
