NVLX News is out! Nuvilex Announces Name Change to PharmaCyte Biotech
Company's Shares Will Trade Under New Ticker Symbol PHCB
SILVER SPRING, Md., Jan. 7, 2015 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (NVLX) today announced that the Company has changed its name to PharmaCyte Biotech, Inc. Shares in PharmaCyte Biotech will trade under the new ticker symbol "PHCB" on the OTCQB electronic platform. The new symbol is expected to become effective at the open of the market on January 8, 2014. The name change is part of the Company's transformation process to operate solely as a pure biotechnology firm leveraging its Cell-in-a-Box(R) technology, a proprietary cell encapsulation platform being utilized to develop "targeted" treatments for solid cancerous tumors and insulin dependent diabetes.
"Over the past year, we've implemented an aggressive strategy to facilitate the advancement of the treatments we are developing for cancer and diabetes, with our Cell-in-a-Box(R) technology at the core of these treatments. Our new name reflects the tremendous progress we've accomplished in terms of clinical development and signifies the structural completion of our transition to becoming a fully dedicated biotechnology company," said Kenneth L. Waggoner, Chief Executive Officer of PharmaCyte Biotech.
Some of the highlights in 2014 that have marked this transition include:
Receiving "orphan drug" designation from the U.S. Food and Drug Administration (FDA) for the Company's pancreatic cancer treatment, with applications filed with the EMA and the TGA for the same status in Europe and Australia.
Development of a clinical protocol for a planned Phase 2b clinical trial with the goal of initiating the clinical trial in 2015.
A preclinical study being completed evaluating the effectiveness of the Company's pancreatic cancer treatment on the accumulation of malignant ascites fluid often associated with the growth of abdominal cancers with positive results that have led to a follow-up study about to be launched.
The establishment of a world-wide Diabetes Consortium with a number of research agreements now in place with major universities and institutions that will permit the development of a break-through treatment for insulin dependent diabetes that combines Cell-in-a-Box(R) with insulin-producing cells.
Progression at the University of Northern Colorado in the pursuit of treatments for brain and other forms of difficult to treat cancers that will combine cannabinoid or cannabinoid-like compounds with the Cell-in-a-Box(R) technology.
"With exciting developments on the horizon for 2015, our work to develop treatments for both cancer and diabetes will move forward under our new name because it speaks to what we actually do here at PharmaCyte Biotech," concluded Mr. Waggoner.
new ticker symbol "PHCB" is expected to become effective at the open of the market on January 8, 2014
Company's Shares Will Trade Under New Ticker Symbol PHCB
SILVER SPRING, Md., Jan. 7, 2015 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (NVLX) today announced that the Company has changed its name to PharmaCyte Biotech, Inc. Shares in PharmaCyte Biotech will trade under the new ticker symbol "PHCB" on the OTCQB electronic platform. The new symbol is expected to become effective at the open of the market on January 8, 2014. The name change is part of the Company's transformation process to operate solely as a pure biotechnology firm leveraging its Cell-in-a-Box(R) technology, a proprietary cell encapsulation platform being utilized to develop "targeted" treatments for solid cancerous tumors and insulin dependent diabetes.
"Over the past year, we've implemented an aggressive strategy to facilitate the advancement of the treatments we are developing for cancer and diabetes, with our Cell-in-a-Box(R) technology at the core of these treatments. Our new name reflects the tremendous progress we've accomplished in terms of clinical development and signifies the structural completion of our transition to becoming a fully dedicated biotechnology company," said Kenneth L. Waggoner, Chief Executive Officer of PharmaCyte Biotech.
Some of the highlights in 2014 that have marked this transition include:
Receiving "orphan drug" designation from the U.S. Food and Drug Administration (FDA) for the Company's pancreatic cancer treatment, with applications filed with the EMA and the TGA for the same status in Europe and Australia.
Development of a clinical protocol for a planned Phase 2b clinical trial with the goal of initiating the clinical trial in 2015.
A preclinical study being completed evaluating the effectiveness of the Company's pancreatic cancer treatment on the accumulation of malignant ascites fluid often associated with the growth of abdominal cancers with positive results that have led to a follow-up study about to be launched.
The establishment of a world-wide Diabetes Consortium with a number of research agreements now in place with major universities and institutions that will permit the development of a break-through treatment for insulin dependent diabetes that combines Cell-in-a-Box(R) with insulin-producing cells.
Progression at the University of Northern Colorado in the pursuit of treatments for brain and other forms of difficult to treat cancers that will combine cannabinoid or cannabinoid-like compounds with the Cell-in-a-Box(R) technology.
"With exciting developments on the horizon for 2015, our work to develop treatments for both cancer and diabetes will move forward under our new name because it speaks to what we actually do here at PharmaCyte Biotech," concluded Mr. Waggoner.
new ticker symbol "PHCB" is expected to become effective at the open of the market on January 8, 2014
