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PROT NEWS:Proteonomix, Inc. (PROT) to Move Forward With Offshore Stem Cell Testing
MOUNTAINSIDE, NJ, Oct 19, 2011 (MARKETWIRE via COMTEX) -- PROTEONOMIX, INC. /quotes/zigman/522094 PROT +10.77% , a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that it intends to move forward with the testing of its StromaCel technology through its PRTMI subsidiary or its affiliates. The Company decided to examine the possibility of testing its cardiac stem cell treatment offshore in light of the progress toward its trial of UMK-121, its stem cell treatment for patients awaiting liver transplant to overcome End Stage Liver Disease ("ESLD"), in the United States. Michael Cohen, President of the Company, stated: "Since we progress toward the commencement of our trial of UMK-121 in the United States, we have decided to explore the possible testing of our cardiac treatment offshore in order to reduce the cost of bringing the cardiac treatment to market. This strategic decision is being made in recognition of the increasing costs associated with bringing a new drug to market in the United States through the NDA (New Drug Application) process and the availability of expert medical testing capabilities offshore at a fraction of the cost." Mr. Cohen continued: "Once we have established the efficacy of our cardiac stem cell treatment offshore and have commenced foreign sales, then we will be in a better financial position to pursue the NDA in the United States." We have been approached by one group that has expressed interest in exploring such a possibility and we will follow through with this in the coming weeks. Meanwhile, we will seek out others interested in a similar transaction keeping in mind at all times that any such deal would have to provide immediate benefit to our shareholders." About Proteonomix, Inc.: Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix Family of companies includes Proteoderm, StromaCel, National Stem Cell, PRTMI and THOR Biopharma. Proteoderm, Inc. is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel, Inc. develops therapeutic modalities for the treatment of Cardiovascular Disease (CVD). National Stem Cell, Inc. is Proteonomix's operating subsidiary. 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: Proteonomix, Inc. Michael Cohen CEO Phone: +1-973-544-6116 Email: Email Contact
SOURCE: Proteonomix
luckylindy
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PROT's Top Highlights
(1) PROT reported that it has developed a catalog of intellectual properties and patent applications
(2) PROT’s StromCel(T) cellular materials has given some indications as a general anti-inflammatory
(3) PROT stated that it is forming an international network of Stem Cell Laboratories
(4) PROT reported that it is examining the licensing of Diabetes Stem Cell Technology
(5) PROT’s wholly-owned subsidiary has opened its retail website and has started accepting orders for its anti-aging line of skin care products
(6) PROT has reported that it has formed a new subsidiary to enter the Pharmaceutical Market
Licensing of Diabetes Stem Cell Technology
PROThas recently announced that it is looking at the possibility of licensing its stem cell diabetes related technology to another company. The plans to license the technology come as the company continues progress toward its trial of UMK-121, its stem cell treatment for patients awaiting liver transplant to overcome End Stage Liver Disease (ESLD).
Michael Cohen, President of PROT, recently said that "since the company continues its rapid progress toward the start of its trial of UMK-121, it has decided to explore the possible licensing of its diabetes related applications of its stem cell technology to another company."
Cohen said that "the strategic decision is being made in recognition of the increasing breadth of the company’s technology and the requirement for further capital and management resources to effectively deal with the massive ramifications of the diabetes applications of the stem cell technology company has developed."
luckylindy
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PROT AH NEWS: Proteonomix, Inc. (PROT) Announces That Its Subsidiary Proteoderm, Inc. Has Received the Approval of Its Application for INCI... print Proteonomix (OTCBB:PROT) Intraday Stock Chart Today : Friday 11 November 2011
PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that the Cosmetic Ingredients Review Board ("CIR") has approved and assigned an INCI nomenclature to its innovative Matrix NC-138 Cosmeceutical product, a necessary final step prior to manufacturing and commercialization of cosmetic products in the United States.
Michael Cohen, President of the Company, stated: "The approval of the CIR and its issuance of an INCI name to our Matrix NC-138 is a significant and momentous occasion. We have now demonstrated that we are committed to develop and deliver to the market safe and innovative products. The issuance of the INCI name will allow the company to move forward with commercialization of our cosmeceutical product, Proteoderm NC-138 in the USA."
Proteoderm Inc. has developed a line of anti-aging skin care cosmetics based on its research with stem cell derivatives. We are the first company to use a matrix of proteins ("Matrix NC-138") originally discovered in non-embryonic stem cells, to harness the anti-aging potential in cosmeceutical products.
Mr. Cohen continued: "We anticipate that our efforts to market the product and partner up with other cosmetic manufacturers will be greatly enhanced by the issuance of an INCI name."
Based in Washington, D.C., the Personal Care Product Council ("PCPC") has funded the Cosmetic Ingredient Review ("CIR") Expert Panel as an independent, nonprofit panel of scientists and physicians established in 1976 to assess the safety of ingredients used in cosmetics in the U.S. with the support of the U.S. Food and Drug Administration and the Consumer Federation of America in an open, unbiased, and expert manner, and to publish the results in the peer-reviewed scientific literature. The CIR mission is to review and assess the safety of ingredients used in cosmetics in an open, unbiased, and expert manner, and to publish the results in the peer-reviewed scientific literature. Upon conclusion of its review the CIR issues an International Nomenclature of Cosmetic Ingredients ("INCI") name to the ingredient. The PCPC does not regulate but provides information on national and international regulation. We presently adhere to the Personal Care Products Council Consumer Commitment Code, including filing timely reports with the FDA regarding manufacturing and ingredient usage.
About Proteonomix, Inc.:
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix Family of companies includes Proteoderm, StromaCel, National Stem Cell, PRTMI and THOR Biopharma. Proteoderm, Inc. is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel, Inc. develops therapeutic modalities for the treatment of Cardiovascular Disease (CVD). National Stem Cell, Inc. is Proteonomix's operating subsidiary. 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:
Proteonomix, Inc
luckylindy
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PROT: 8-k on friday's news!!:http://ih.advfn.com/p.php?pid=nmona&article=49929589luckyhousewife
Posts: 478 Joined: Mon Mar 01, 2010 9:47 am Private messageE-mail luckyhousewife
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