IGSM PR this morning!! IGSM Concludes Negotiation
Post# of 1842
IGSM PR this morning!!
[b]IGSM Concludes Negotiations With Biotech Company[/b]
IGSM Group, Inc. (PINKSHEETS: IGSM) has concluded negotiations with a Biotech Company to commercialize the opportunity presented by a small protein named Crotamine. Crotamine is a Cell Penetrating Peptide ("CPP"), which can act as a neurotoxin by attaching to sodium channels, can locate and penetrate rapidly dividing cells such as bone marrow or tumor cells, and has demonstrated toxicity to tumor cells. A recent scientific publication revealed that Crotamine could deliver genes into replicating cells in laboratory bench studies (in-vitro) and animal models (in-vivo).
The Biotech Company recently obtained an exclusive worldwide development agreement with patent holders associated with Crotamine for development of the peptide's medical applications. The Biotech Company focuses on clinical projects, which create its ability to monetize the development agreement, and therefore makes a joint venture with IGSM very beneficial for the Biotech Company and patent holders. These discussions are memorialized in a Memorandum of Understanding ("MOU") that outlines IGSM and the biotech company's intended three-phased approach to rapid commercialization and funding.
Much research has been published on their use, this quote from PHARAMCEUTICALS publication (www.mdpi.com/journal/pharmaceuticals - March 2010) sums up the capabilities IGSM is pursuing; "... cell-penetrating peptides (CPPs) have been considered one of the most promising tools to improve non-invasive cellular delivery of therapeutic molecules."
"Although still reviewing IGSM's current subsidiaries, the opportunity afforded us in development of this Biotech Company fits in with our new mission statement of 'The IGSM Group, Inc. opens new markets through incubation of a diverse group of businesses, providing its expertise in multi-disciplines through the incubation process,'" said Mr. H. Francis Fytton, IGSM Group, Inc. Chairman and CEO. "We intend to complete and announce a definitive Letter of Intent for this joint venture and then begin the process of funding the joint venture shortly."
In the coming weeks, IGSM will provide specific details of the acquisition, new investor materials and commentary from management on the refined IGSM business plan and its implementation.
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