October 6, 2008
PhytoMedical Renews Sponsored Research Agreement With Dartmouth College
PhytoMedical Technologies, Inc. (OTCBB: PYTO) (FWB: ET6), today announced that it is renewing its Sponsored Research Agreement with Dartmouth College. "I am extremely pleased to have extended our agreement with Dartmouth College," stated Mr. Greg Wujek, President and CEO of PhytoMedical Technologies, Inc. "This past year, Dr. Gordon Gribble and his staff have worked very hard to assure all of our developmental goals were accomplished on time allowing us to move from the initial human cancer cell line in vitro testing to our current development phase seamlessly." Dartmouth Technology Transfer Office Assistant Director, Glennis Gold affirmed, "Our collaboration with PhytoMedical is an excellent example of how technology arising out of academia may be transferred to the private sector in order to serve the public good."
Dr. Gribble's patented work is unique and is based on a process called bis-intercalation or "double-binding" which tightly binds to the DNA of a cancer cell and inhibits the growth ultimately resulting in the death of the cancer cell. Over the past year several of Dr. Gribble's compounds were successfully tested in vitro against human cancer cell lines which included glioblastoma, small cell lung, breast, and colon cancers. Based on the results of the in vitro testing PhytoMedical announced the initiation of both toxicology and efficacy testing which is currently ongoing.
PhytoMedical Technologies, Inc. (OTCBB: PYTO; Frankfurt Stock Exchange: ET6), together with its wholly owned subsidiaries, is a pharmaceutical company focused on research, development and commercialization of pharmaceutical products.
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No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may,""will,""should,""could,""expect,""anticipate,""estimate,""believe,""intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. We currently have no commercial products intended to diagnose, treat, prevent or cure any disease. The statements contained in this press release regarding our on going research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration. There can be no assurance that further research and development, and /or whether clinical trial results, if any, will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that PhytoMedical will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.