IMMB HUGE FIND  In March 2012, Immunotech Laborat

IMMB HUGE FIND >> In March 2012, Immunotech Laboratories, Inc. and collectively the Zhabilov Group, entered into a binding Release and Settlement Agreement with Viral Genetics Inc. and collectively the Viral Group and its principals that was approved by the court. The Settlement ends the almost 5-year-old lawsuit between the parties, dismissing all claims without admission of liability by any party.

The Company’s HIV/AIDS technology and the Zhabilov Group’s cancer therapeutics and detection technology intellectual property portfolio have grown considerably in these last five years. As a result, both the Company and the Zhabilov Group are now free to pursue possible partnerships and joint ventures at a much higher level that better reflect the value of the work.

According to its President and Chief Science Officer, Harry Zhabilov, “with this arduous and time-consuming process behind, Immunotech Laboratories, Inc. is now completely free to focus on the development of new drug candidates”.

Furthermore, the company has completed numerous clinical contracts with Mexican hospitals to initiate a full blown effort of clinical trial protocol preparation for its HIV/AIDS drug candidate. The successful outcome of these efforts will eventually provide the necessary regulatory means for its product’s registration approval in the Republic of Mexico and eventually open a venue to most of the central and South American markets.

Additionally, the company has undergone an internal restructuring effort to better optimize and enhance its capability within the investment community. Mr. Jacob Parseghian formerly a contracted agent, is no longer acting on the organization’s behalf and has no official capacity to negotiate on the company’s behalf.