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PROT Enters Into Exclusive License Agreement for Technology to Focus on Mobilization of Bone Marrow Stem Cells
News

PROT Enters Into Exclusive License Agreement for Technology to Focus on Mobilization of Bone Marrow Stem Cells

PROT Enters Into Exclusive License Agreement for Technology to Focus on Mobilization of Bone Marrow Stem Cells
News

PROT Enters Into Exclusive License Agreement for Technology to Focus on Mobilization of Bone Marrow Stem Cells

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Proteonomix, Inc., has announced that on March 2, 2011 it entered into an exclusive license agreement to develop "Mobilization of Bone Marrow Stem Cells technology" ( UMK-121).

Ian McNiece, Chief Scientific Officer of Proteonomix, noted, "This technology, once cleared through clinical trials, may offer novel approaches to treat debilitating diseases. It provides for less invasive and potentially less life threatening modes of delivery of cellular therapeutics for tissue and organ repair. In addition this technology may be delivered in conjunction with other cellular therapeutic products to further enhance the clinical benefits of these products. The new technology broadens the portfolio of the company to develop both cellular and biological products for regenerative medicine and may bring some of its intellectual property closer to clinical trials."

Michael Cohen, Proteonomix, Inc. CEO, stated: "We are thrilled to conclude this significant license agreement. This is unique technology based on existing approved drugs. There is no upfront cost to Proteonomix, Inc. We believe that the commercialization of this technology can provide Proteonomix with significant revenue potential."

According to United Network for Organ Sharing ("UNOS") there are over 100,000 patients on the transplant waiting list at any given time. According to the ("NIH") there are over 500,000 patients in end stage Kidney disease. According to Organ Donation and Transplantation ("NWHIC") over 60,000 Americans suffer from End Stage Liver Disease ("ESLD").

Some of the Intellectual Property associated with the patent application was derived from research conducted at a major southeastern academic institution.

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