Science & Technology
Wed, August 5, 2009Tue, August 4, 2009Mon, August 3, 2009Fri, July 31, 2009Thu, July 30, 2009Wed, July 29, 2009Tue, July 28, 2009Mon, July 27, 2009Fri, July 24, 2009Thu, July 23, 2009Wed, July 22, 2009Ventana Biotech Inc: Ventana Signs Agreement With Prime Bioresearch
Published in Science and Technology on Wednesday, July 29th 2009 at 6:31 GMT, Last Modified on 2009-07-29 06:31:40 by Market Wire
LONDON, UNITED KINGDOM--(Marketwire - July 29, 2009) - 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 ].
