Viral Genetics’ Milestone Accomplishments Cited as Biotech Stock Review Issues Update
Cites expanded research facilities; $1.5 million dollar grant for oncological studies; $750,000 grant to study potential use in multi-billion dollar biofuels sector
Chicago, IL & Los Angeles, CA (PRWEB) February 11, 2011
The Biotech Stock Review today issued an update on Viral Genetics (VRAL: PK), a company that is focused on discovering drug therapies for drug-resistant cancer tumors, HIV/AIDS, Lyme Disease, Strep, and Staph. The Biotech Stock Review cites key milestone accomplishments in 2010 and a more focused corporate strategic plan going into 2011 as reasons for issuing their update.
The Review praised Viral Genetics’ management team for finishing 2010 with strong momentum after attaining several key accomplishments, among them:
Expanded research facilities: Researchers have access to expanded facilities at Texas A&M University Health Science Center’s College of Medicine and Scott & White Hospital in Temple, Texas. These facilities provide enhanced resources for completing patent and other proprietary technology research, while helping to accelerate the transition of the research from laboratory to patient studies.
$1.5 MM grant: Along with the new research facilities, Viral Genetics secured resources to fund the first clinical studies on humans of the company’s first MDT drug candidates.
MDT process yields potential applications in Biofuels; lead researcher receives $750,000 grant: MDT, which targets the metabolic demands of tumor cells in order to starve them, has also shown potential in modifying the metabolic rates of algae and other plants. This modification improves the yields of biofuels and, in pilot studies, has raised algae oil yields by 300%. The promise of these developments in the multi-billion dollar biofuels marketplace has prompted the company to form a new subsidiary, VG Energy, to develop and potentially market this new technology. (See http://www.VGenergy.net.) Lead research M. Karen Newell Rodgers, Ph.D. received a $750,000 grant from the Texas Emerging Technologies Fund to further these developments.
Nobel Laureate Joins Advisory Board: Nobel Laureate Baruch S. Blumberg, MD, Ph.D., and noted biofuels expert John Sheehan joined the company’s Advisory Board in 2010, setting the stage for a robust expansion of research in 2011.
HIV/AIDS Program takes two strides forward in Africa and U.S.: Viral Genetics cleared the way for licensing an HIV/AIDS drug in Africa, the single largest potential market for such a product, when it settled a nearly five-year-old lawsuit regarding the company’s previous efforts in South Africa. The second leap forward came when the United States Food and Drug Administration (FDA) granted the Company a pre-IND number and a date for a pre-IND meeting in the first quarter of 2011. This is the first step in the drug’s U.S. developmental path and the establishment of the full Investigational New Drug application process. If successful, this process leads to a blueprint for Viral Genetics’ researchers to follow in the commercialization process.
Roland Rick Perry, publisher of the Biotech Stock Review, noted that “we are really enthused to see the progress that the management team has made in the closing quarters of last year. Viral Genetics brings an incredible amount of momentum into 2011 with these and other developments as the team continues to focus on execution of their corporate strategy.”
The update and an upcoming research report on Viral Genetics can be found at http://www.biotechstockreview.com
For more information on Viral Genetics’ recent accomplishments, the Company’s “2010 Year in Review and 2011 Outlook” is available at: http://www.viralgenetics.com/investors/press-releases/2010Year-in-Review_2011Outlook.pdf
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About Viral Genetics, Inc.
San Marino, California-based Viral Genetics discovers drug therapies. Founded in 1994, the biotech company is researching treatments for HIV/AIDS, Lyme Disease, Strep, Staph and drug resistant tumors. A majority-owned subsidiary called VG Energy is dedicated to exploring biofuel and agricultural applications for one of the technologies in its licensed portfolio. For more information please visit http://www.viralgenetics.com.
About VG Energy, Inc.
VG Energy Inc. is an alternative energy and agricultural biotech company that is a majority-owned subsidiary of Viral Genetics Inc., a biotechnology company researching new treatments and methods of detection for diseases including cancer, HIV/AIDS and others. Using its Metabolic Disruption technology (“MDT”), Viral Genetics’ cancer research led to discoveries with major consequences in a wide variety of other industries, including bio-fuel and vegetable oils. VG Energy Inc. holds the exclusive worldwide rights to the licensed MDT patents for us in the increase of production of various plant-derived oils from algae and seeds. Importantly, these pivotal discoveries promise to allow the biofuel industry to overcome its major obstacle in the area of production efficiency: namely an increase in production yields leading to feasible economic returns on investment allowing renewable biodiesel to be competitive with fossil fuels. For more information please visit http://www.vgenergy.net.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
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 Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. None of Viral Genetics’ drug compounds are approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. Further there can be no assurance that our subsidiary, VG Energy, Inc., will be successful in licensing its technology, or developing and marketing any products that will be commercially accepted and successful. While Viral Genetics 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 Viral Genetics to establish the efficacy of any of its drug therapies, including VGV-X, VGV-L, and VGV-S, in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of those drug compounds 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, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.
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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/02/prweb5059474.htm