SILVER SPRING, Md., May 29, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (OTCQB:NVLX), a clinical-stage international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today that it has entered into an "At the Market" banking agreement with Chardan Capital Markets, LLC under which Nuvilex may seek to raise up to a total of $50,000,000 depending upon market conditions and at the discretion of Nuvilex. In the banking agreement, Chardan Capital Markets will act as the exclusive placement agent for Nuvilex. The funds will be used for: (i) late-phase clinical trials in pancreatic cancer with Clinical Network Services (CNS) in Australia; (ii) preclinical studies and clinical trials with Translational Drug Development (TD2) to address the symptoms of pancreatic cancer to be conducted in the U.S.; and (iii) further testing and research for diabetes in Europe.
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