MOUNTAINSIDE, NJ--(Marketwire - February 01, 2011) -
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PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, is pleased to announce the Company has made an additional patent filing.
The application has been filed to improve the Company’s patent position on StromaCel with respect to a newly developed breakthrough method of stem cell expansion. This new methodology is used to mass-produce stem cells for therapeutic use once the stem cell line has been selected and purified. The Company believes that the new process application will dramatically expand product availability and reduce the cost of production of StromaCel to the Company and patient. The Company believes that the technology presented in the new patent application will allow it to move to a new clinical trial quickly for the StromaCel product. Furthermore, however, the Company believes that this expansion model will be applicable to a wide range of stem cell technologies, providing further trials and potential revenue streams to the Company.
Ian McNiece, Proteonomix, Inc.'s Chief Scientific Officer commented, “We continue to move forward building upon our existing strong scientific foundation. This patent application pinpoints advances in manufacturing of our stem cell products. We are focused on our goal of initiating clinical trials to demonstrate the efficacy of our stem cell products in various applications of regenerative medicine. Our ongoing progress in manufacturing has enabled the company to expand its intellectual property portfolio and will help establish the company as a key emerging player in the dynamic stem cell field.”
About Proteonomix, Inc.:
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix. StromaCel, Inc.'s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use. National Stem Cell, Inc. is a subsidiary of Proteonomix. The Sperm Bank of New York, Inc. is a fully operational tissue bank and a subsidiary of Proteonomix. Proteonomix Regenerative Translational Medicine Institute, Inc. (“PRTMI”) intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit http://www.proteonomix.com/, http://www.proteoderm.com/, http://www.otcqb.com/ and http://www.sec.gov/.
Forward-looking statements:
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Contact:
Constellation Asset Management, LLC
415-524-8500
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