SAN ANTONIO--(BUSINESS WIRE)--Oncovista Innovative Therapies, Inc. (OTCBB: OVIT) (“Oncovista” or the “Company”) is pleased to announce its 3 year litigation has been settled favorably in the New York Supreme Court. The company is in the process of obtaining a short-term bridge loan that will propel its operations forward. Oncovista has two cancer fighting drugs, one in Phase I and one in Phase I/II, and it expects to continue the clinical trials in advancement accordingly. The company has multiple strategic plans in place that will drive shareholder value over the coming years and the settlement being reached now allows for those plans to materialize. CEO Alexander Weis commented on the outcome of the settlement, “I am glad that we have settled the case and we will move forward quickly with our best, most efficient targeted anticancer drugs.” Mr. Weis will work with his advisors and clinical development team to continue to grow the company and he is pleased with the result of this long-term litigation.
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