SILVER SPRING, Md., June 23, 2015 (GLOBE NEWSWIRE) -- PharmaCyte Biotech, Inc. (OTCQB:PMCB), a clinical stage biotechnology company focused on developing targeted treatments for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, announced today that it has signed a major Research Services Agreement and an important Consulting Contract with the University of Technology Sydney (UTS) in Australia. Both of these contracts concern the development of PharmaCyte Biotech’s treatment for insulin-dependent diabetes that is comprised of proprietary human non-pancreatic insulin-producing cells (Melligen cells) that are to be encapsulated using its cellulose-based live cell encapsulation technology known as Cell-in-a-Box®.
The Research Services Agreement is designed to provide funding to UTS that will permit Prof. Ann Simpson, the world’s foremost authority on the Melligen cells, and her colleagues at UTS to conduct pivotal studies with Melligen cells in order to help fully characterize the parameters by which these cells produce insulin “on demand” when they are encapsulated using the Cell-in-a-Box® technology. The Consulting Contract will allow Prof. Simpson to devote a sufficient amount of her time to working with PharmaCyte Biotech and its international Diabetes Consortium as it pursues the development of its diabetes treatment for insulin dependent diabetes.
“Kenneth L. Waggoner, PharmaCyte Biotech’s Chief Executive Officer, commented, “The Research Services Agreement and Prof. Simpson’s Consulting Contract are extremely important and very necessary as PharmaCyte Biotech pursues its goal of developing a treatment for insulin-dependent diabetes. We are particularly pleased that Prof. Simpson has agreed to join us as a consultant because, not only was she a founding member of our Diabetes Consortium, her expertise in dealing with the Melligen cells will undoubtedly continue to be indispensable as we move forward in our efforts to find an effective treatment for all those who are in need of insulin to live a normal life.”
About PharmaCyte Biotech
PharmaCyte Biotech is a clinical stage biotechnology company focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as Cell-in-a-Box®. This unique and patented technology will be used as a platform upon which treatments for several types of cancer, including advanced, inoperable pancreatic cancer, and diabetes are being built. PharmaCyte Biotech's treatment for pancreatic cancer involves low doses of the well-known chemotherapy prodrug ifosfamide, together with encapsulated live cells, which convert ifosfamide into its active or "cancer-killing" form. These capsules are placed as close to the tumor as possible to enable the delivery of the highest levels of the cancer-killing drug at the source of the cancer. This "targeted chemotherapy" has proven remarkably effective in past clinical trials. PharmaCyte Biotech is also working towards improving the quality of life for patients with advanced pancreatic cancer and on treatments for other types of solid cancerous tumors.
In addition, PharmaCyte Biotech is developing treatments for cancer based upon chemical constituents of the Cannabis plant, known as cannabinoids. In doing so, PharmaCyte Biotech is examining ways to exploit the benefits of Cell-in-a-Box® technology in optimizing the anticancer effectiveness of cannabinoids, while minimizing or outright eliminating the debilitating side effects usually associated with cancer treatments. This provides PharmaCyte Biotech the rare opportunity to develop “green” approaches to fighting deadly diseases, such as cancer of the pancreas, brain and breast, which affect hundreds of thousands of individuals worldwide every year.
This press release may contain forward-looking statements regarding PharmaCyte Biotech and its future events and results that involve inherent risks and uncertainties. The words "anticipate," "believe," "estimate," "expect," "intend," "plan" and similar expressions, as they relate to PharmaCyte Biotech or its management, are intended to identify forward-looking statements. Important factors, many of which are beyond the control of PharmaCyte Biotech, could cause actual results to differ materially from those set forth in the forward-looking statements. They include PharmaCyte's ability to continue as a going concern, delays or unsuccessful results in preclinical and clinical trials, flaws or defects regarding its product candidates, changes in relevant legislation or regulatory requirements, uncertainty of protection of PharmaCyte Biotech’s intellectual property and PharmaCyte Biotech’s continued ability to raise capital. PharmaCyte Biotech does not assume any obligation to update any of these forward-looking statements.
More information about PharmaCyte Biotech can be found at www.PharmaCyte.com. It can also be obtained by contacting Investor Relations.
Investor Relations: PharmaCyte Biotech, Inc. Investor Relations Department Telephone: 917.595.2856 Email: Info@PharmaCyte.com