Ventana Signs Agreement With Prime Bioresearch
29 July 2009 - 11:22PM
Marketwired
Ventana Biotech Inc ("Ventana") (PINK SHEETS: VNTA), a
biotechnology company that is developing an appetite-suppressing
chewing gum, is pleased to announce that it will soon enter into a
collaboration deal with Prime Bioreseach to develop its propriety
biotechnology.
The two companies recently signed an Official Letter of Intent
to Collaborate, which confirmed Prime Bioresearch's intent to enter
a full collaboration agreement with Ventana by the end of this
quarter.
Ventana will partner with Prime Bioresearch for the project
management and outsourcing of the Research and Development for its
patented Anti-Obesity Chewing Gum. The two companies are
considering collaboration agreements for Ventana's future patents
as well.
Prime Bioresearch is an experienced drug target acquisition and
development company that specializes in developing medicines for
markets such as Obesity and Type 2 Diabetes.
Janne Christensen, President for Ventana, said, "By
collaborating with Prime Bioresearch, we expect to accelerate the
development of our proprietary Anti-Obesity Chewing Gum, which will
bring us closer to our goal of out-licensing it to Big Pharma and
reaping lucrative royalty payments."
The royalty cash-flow from a successful anti-obesity drug is
estimated at $1.5 - 1.7 billion.
About Ventana Biotech Inc
Ventana is positioning itself as the leading bioscience company
in the development and commercial licensure of novel therapeutic
anti-obesity drug treatment. The company leverages cutting-edge
research collaborations to achieve breakthroughs in innovative
anti-obesity treatments, and then licenses these patented drug
product candidates to Big Pharmaceutical and Biotechnology
companies.
FORWARD-LOOKING STATEMENTS:
Statements about Ventana's future expectations and all other
statements in this press release other than historical facts are
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as the term is defined in the Private Litigation
Reform Act of 1995. Ventana's actual results could differ
materially from expected results. Ventana does not undertake any
obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. Should events occur
which materially affect any comments made within this objective;
Ventana will appropriately inform the public.
For more information about Ventana Biotech Inc please contact
investor@ventanabiotech.com.
Contacts: Ventana Biotech Inc Janne Christensen CEO +
41-44-732-60-59 investor@ventanabiotech.com
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