subject: Stock Update On Prot,pdli From Pennytobuck.com [print this page] PROTEONOMIX, INCPROTEONOMIX, INC. (PROT.OB), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, applauds the actions taken by the Costa Rican Ministry of Health to crack down on unauthorized stem cell clinics.
Dr. Ileana Herrera chief of the ministrys research council, stated, If (stem cell treatments) efficacy and safety has not been proven, we dont believe it should be used.
Mr. Michael Cohen, Chairman and CEO of Proteonomix, stated, We have no doubt that stem cell therapies will be a major factor in combatting a variety of medical conditions but it is essential that it be undertaken only after the clinical results determine that such a course of action is efficacious. Too much hype about cures for all types of diseases is diminishing the potential value of stem cells and could unduly delay future progress in stem cell treatments and research. Medical tourism is not a dirty word, if established in an ethical and professional manner.
The mission of one of our subsidiaries, Proteonomix Regenerative Translational Medicine Institute, Inc. (PRTMI), is to translate the most promising internal and external stem cell biology and cellular therapy to clinical applications of regenerative medicine. PRTMI will undertake the creation of a global, single standard, cellular laboratory that will seek to create a seamless transition between laboratories and patient care facilities.
PROT.ob has developed a catalog of intellectual properties and patent applications. These technologies are designed to work together in a synergistic fashion. Our initial focus in stem cell therapeutics is to achieve a leadership position in:
the development of identification biomarkers (a biomarker is a substance used as an indicator of a biological state relating to the complete range of genes found in biological structure and processes of the living body), that can aid in understanding the prediction, cause, diagnosis, progression, regression, or outcome of treatment of disease;
the development of stem cell therapies for disease and injury;
the performance of reproductive cell/tissue laboratory services.
Mr. Cohen concluded, We view joint ventures with appropriate strategic partners as a key to the success of Proteonomix and, at the appropriate time, anticipate that PRTMI will engage in such discussions.
PDL BioPharma, Inc. (PDL) (Nasdaq:PDLI) reported it has received a facsimile letter from Genentech asserting that Avastin, Herceptin, Lucentis and Xolair (the Genentech Products) do not infringe supplementary protection certificates (SPCs) granted by various countries in Europe to PDLI and is seeking a response from PDLI to these assertions. The letter was received at 4:00 pm PDT on Wednesday, August 11, 2010.
PDLI's SPCs covering the Genentech Products effectively extend its European patent protection generally until December 2014, except that the SPCs for Herceptin will generally expire in July 2014. PDLI's SPCs were applied for and granted by the relevant national patent offices in Europe and by their terms specifically cover the Genentech Products. PDL believes that these SPCs are enforceable against the Genentech Products and intends to vigorously assert its SPC-based patent rights.
Royalties on sales of the Genentech Products that are made and sold outside the United States accounted for approximately 30 percent of PDLI's revenue in the first half of 2010.
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