NEW YORK, Sept. 3 /PRNewswire/ - - GENova Biotherapeutics, Inc. (“GENova”), is pleased to announce that its common stock shares are now listed for trading on the NASD OTCBB under the ticker symbol GVBP.OB.
GENova is a biotechnology company in the business of discovering, developing and commercializing new bioscience technologies that fight infectious disease and cancer, particularly breast and prostate cancer. It already possesses two proprietary anti-tumor drug targets and is in the process of acquiring three more patents.
The two proprietary targets -- Prostaganin (prostate cancer) and Tetanolic (breast cancer) -- both have incredible market potential as they may ultimately eliminate the need for surgery and chemotherapy and possess no side effects. GENova intends to pursue an out-licensing strategy, whereby these products will be out-licenses to Big Pharmaceutical or Biotechnology companies for further development. In the event that they are successful, and based upon deals achieved by other successful drug candidates in the industry, GENova can expect up to $100 million in milestone payments during clinical trials, and up to $400 million per annum in the years (up to 20 years) following commercialization. With market growth, GENova’s licensing fees could grow to $700 million per annum.
Aaron Whiteman, CEO of GENova says, “Our business strategy is to leverage our international research collaborations and use facilitator regulatory mechanisms such as the FDA Fast Track option, to accelerate the development of new, potentially life-saving treatments. This approach allows us to acquire potential blockbuster cancer treatments at an early stage and at a lower cost.”
About GENova
GENova is positioning itself as the world’s leading bioscience company in the development and commercial licensing of novel therapeutic proteins that disrupt the advance of life-threatening cancers. The company leverages cutting-edge research collaborations to achieve breakthroughs in anti-cancer treatments, and then licenses these patented drug product candidates to Big Pharmaceutical and Biotechnology companies such as Pfizer, Amgen, Myriad Genetics, Medarex, and Biogen Idec. Visit GENova online at www.genovabio.com
Forward Looking Statements
This document includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are expected by the Company to be forward-looking statements. Although GENova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to the success of the owned intellectual property, the strength of the patents, continued availability of capital and financing, and general economic market or business conditions.
SOURCE GENova Biotherapeutics, Inc.
CONTACT: Genova Biotherapeutics, Inc., Investor Relations: Windfall
Communications LLC, Brian Cook, 1-866-797-8703,
info@windfallcommunications.com
