MISSISSAUGA, ONTARIO--(CCNMatthews - Oct. 30, 2006) - Covalon Technologies Ltd. (the “Corporation” or “Covalon”) (TSX VENTURE:COV) is pleased to announce that it has received a non-exclusive license from the University of Texas Southwestern Medical Center at Dallas for technology covered by US Patent 5,695,963 entitled “Endothelial PAS Domain Protein” (EPAS1). The invention provides methods and compositions relating to EPAS1, related nucleic acids and protein domains having EPAS1-specific activity. The combination of technologies from the University of Texas Southwestern Medical Center at Dallas and that wholly acquired from Perfusion Therapeutics (Montreal) allows Covalon to engineer several cell types, including mesenchymal stem cells, dermal fibroblasts and bone marrow mononuclear cells for increased expression of EPAS1, a hypoxia inducible factor. EPAS1 is a “master” gene that is an upstream regulator of the expression of vascular endothelial growth factor and several other important angiogenic proteins crucial to new blood vessel growth required to deliver blood, oxygen and nutrients to regenerative tissues. According to Covalon CEO, Frank DiCosmo the intent is to optimize treatment of chronic ischemic conditions using cell transplantation to create a neo-vascularized environment required for cell survival at a site damaged by chronic impaired blood flow. Covalon intends to initiate its cell engineering program to generate cells that express useful genes at a site of cell therapy useful for treating ischemic conditions, such as chronic wounds, congestive heart failure, peripheral vascular disease and other conditions. The cell therapy technology aims to stimulate the growth of new blood vessels through a process of therapeutic angiogenesis.
