Xpention Genetics Signs Technology License Agreement With The University of Texas MD Anderson Cancer Center
Market Wire, April, 2005
Xpention Genetics, Inc. (OTC BB: XPNG) and The University of Texas MD Anderson Cancer Center sign a Patent and Technology License Agreement.
The Patent and Technology License Agreement grants Xpention the exclusive right to patented technology for the detection of cancer based on a tumor marker known as p65, which has been demonstrated to have elevated levels in the blood of canine and human cancer conditions.
The terms of the Agreement require the company to commercialize the licensed property and to pay Grantor royalties upon commercial sales.
P65 is a promising marker for the early detection of malignant tumor formation and a useful tool for monitoring therapy and remission. Levels of p65 also appear to have a direct correlation to tumor mass/size. Initially, Xpention plans to utilize this licensed technology to develop an immunological test for the detection of cancer in canines. Simultaneously, the Company will utilize this licensed technology to develop a molecular assay for detection of cancer in both humans and canines. The company is in the process of assembling a private placement of stock to provide funding to implement operations to carry out the intent of the Agreement with The University of Texas MD Anderson Cancer Center.
David Kittrell, CEO, stated, "As is the case with many breakthrough technologies, the key is to commercialize and bring the products to market. We are extremely excited about the prospects of commercializing the p65 technology. Our preliminary data shows a high likelihood of this genetic marker identifying a number of cancers at a very early stage in both humans and animals."
ABOUT XPENTION GENETICS, INC.:
Xpention Genetics, Inc. is a biotechnology company that was formed to develop both immunological and molecular tests for cancer detection in animals and humans as well as therapeutic vaccines and other treatment methods.
"Safe Harbor" Statement: Certain statements in this release are "forward- looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.
Contact: Murray Fleming Catalyst Investor Relations 888-458-1945 ir@xpention.com
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