Update to Immunotech Laboratories, Inc. Shareholders
06 9월 2012 - 4:31AM
Marketwired
Immunotech Laboratories, Inc. (PINKSHEETS: IMMB) signed a contract
with strategic partners in Bulgaria to register a company called
Immunotech Laboratories B.G. LLC. Immunotech Laboratories, Inc.
will own 34% of the Bulgarian subsidiary. The goal of Immunotech
Laboratories BG is to conduct pre-clinical testing, clinical trials
phase I, phase II, and phase III to reach registration of the
product based on IPF platform called ImmuneH for treatment of
Hepatitis C. Furthermore Immunotech Laboratories B.G. will obtain
rights for the eventual production in Bulgaria.
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 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."
Immunotech Laboratories, Inc. has completed an in depth
double-blind, placebo-controlled study of ITV-1 for the treatment
of HIV and AIDS, which has showed positive results. Results
indicate statistically significant reductions in viral load (the
amount of HIV in the blood) in some patients, with no adverse
events attributed to the drug, and a mechanism of action that
appears to be markedly different than existing HIV therapies.
Immunotech Laboratories, Inc. is working toward a therapy that
could have a positive impact on the large numbers of people
infected with HIV. The marketable and therapeutic value which ITV-1
brings to the arsenal of fighting HIV/AIDS globally, is its
regimen's simplicity, short duration and cost effectiveness. "The
initial Pilot test studies are intriguing as there appears to be
some antiviral effect that is sustained well after the last
administration of ITV-1. It is important to conduct further studies
to determine the precise mechanism of action and whether these
initial effects can be enhanced. ITV-1 may have a totally different
mechanism of action from existing antiretrovirals," said Harry H.
Zhabilov, President and Chief Science Officer of Immunotech
Laboratories, Inc.
Pursuant to significantly positive results with its patient
population targeting full blown AIDS patients, 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.
Further information can be obtained from
www.immunotechlab.com
This news release contains forward-looking statements that
involve risks and uncertainties associated with financial
projections, budgets, milestone timelines, clinical development,
regulatory approvals, and other risks described by Immunotech
Laboratories, Inc. from time to time in its periodic reports filed
with the SEC. IPF is not approved by the US Food and Drug
Administration or by any comparable regulatory agencies elsewhere
in the world. While Immunotech Laboratories believes that the
forward-looking statements and underlying assumptions contained
therein are reasonable, any of the assumptions could be inaccurate,
including, but not limited to, the ability of Immunotech
Laboratories to establish the efficacy of IPF in the treatment of
any disease or health condition, the development of studies and
strategies leading to commercialization of IPF in the United
States, the obtaining of funding required to carry out the
development plan, the completion of studies and tests on time or at
all, and the successful outcome of such studies or tests.
Therefore, there can be no assurance that the forward-looking
statements included in this release will prove to be accurate. In
light of the significant uncertainties inherent in the
forward-looking statements included herein, Immunotech Laboratories
or any other person that the objectives and plans of Immunotech
Laboratories will be achieved should not regard the forward-looking
statements as a representation.
Contact: Harry Zhabilov President and Chief Science Officer
Telephone: 818-409-9091 Fax: 818-409-8988 info@immunotechlab.com
www.immunotechlab.com
Immunotech Laborator (CE) (USOTC:IMMB)
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Immunotech Laborator (CE) (USOTC:IMMB)
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