$NVLX ~ Nuvilex is a biotechnology company focused
Post# of 63824
Posted On: 01/31/2014 8:53:56 AM
$NVLX ~ Nuvilex is a biotechnology company focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a proprietary cellulose-based live-cell encapsulation technology, called Cell-in-a-Box(TM). This unique 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.
Yesterday, Nuvilex received its share issuance from SGAustria Pte. Ltd. (Austrianova), who owns Austrianova Singapore Pte. Ltd. (Austrianova Singapore), that equates to a 14.5% equity interest in Austrianova.
The issuance of shares by Austrianova fulfils an obligation by Austrianova to Nuvilex that was part of the Asset Purchase Agreement between both companies pertaining to the acquisition of Bio Blue Bird AG and, with it, the worldwide exclusive rights for Nuvilex to use Austrianova's Cell-in-a-Box(TM) cellulose-based live-cell encapsulation technology for the development of treatments for all types of cancer. Nuvilex has also obtained from Austrianova Singapore the exclusive worldwide rights to use the Cell-in-a-Box(TM) technology for the development of treatments for diabetes.
(0)
(0)