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InvestBio Ventures Completes a $20 Million Investment in the Vaccine Company to Further the Development of the PR1 Vaccine for Leukemia
NEW YORK, May 5 -- InvestBio Ventures - The Vaccine
Company, L.P., an InvestBio Ventures Partnership, announced today that it
has completed a $20 million investment in The Vaccine Company (TVC).
InvestPrivate, Inc. (member NASD, SIPC, SIA) acted as the placement agent
for the offering.
The Vaccine Company was formed in July 2003 to commercialize the PR1
vaccine that is being developed at the M. D. Anderson Cancer Center at The
University of Texas. The funding will help The Vaccine Company conduct a
pivotal Phase III trial in acute myelogenous leukemia (AML). The company
was recently granted a SPA (special protocol assessment) by the FDA.
Scott Mathis, CEO and Chairman of InvestBio stated, "We are extremely
pleased with the progress of the PR1 Vaccine which was developed by Jeffrey
Molldrem, MD of the M. D. Anderson Cancer Center. We are all very proud to
help fund the clinical trials for the advancement of this vaccine. If the
clinical trials are successful, this may well be a breakthrough in leukemia
treatment and embodies our philosophy of Get Healthy, Get Wealthy by
advancing important research for patients and investors alike."
Ron Garren, M.D., Chairman of The Vaccine Company stated, "We are
excited about the clinical potential of the PR1 vaccine and look forward to
initiating the Phase III trial in AML and further Phase II trials in
related conditions." Gregory Thayer, CEO & President of TVC stated, "Our
vaccine relies on mounting an immune response to a peptide/HLA-A2 complex
presented on the surface of leukemia cells. We are very encouraged by
results to date."
About InvestBio:
InvestBio, Inc. serves as a central resource
for biotech investors seeking unbiased information and access to investment
opportunities. InvestBio, Inc. identifies, selects, structures and manages
biotechnology-related venture capital, private equity for qualified
individual accredited investors.
InvestBio, Inc. is a holding of Diversified Biotech Holdings Corp.
(DBHC), a diversified organization based in New York City that seeks to
help investors and its customers capitalize on business and investment
opportunities in the biotechnology sector.
About InvestPrivate:
InvestPrivate, Inc. (member NASD, SIPC,
SIA), founded in 1999 and headquartered in New York, is a boutique
investment brokerage firm that specializes in the biotechnology sector,
offering access to venture capital, private equity investments and publicly
traded securities.
InvestPrivate, Inc. is a holding of Diversified Biotech Holdings Corp.
(DBHC), a diversified organization that seeks to help investors and its
customers capitalize on business and investment opportunities in the
biotechnology sector.
1999 - 2006. InvestBio, Inc., a subsidiary of Diversified Biotech
Holdings Corporation. This information is not intended for use without
professional advice.
Important Notes:
The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements. This press release may contain
certain statements of a forward-looking nature relating to future events or
future business performance. Any such statements that refer to the
Company's estimated or anticipated future results or other non-historical
facts are forward-looking and reflect the Company's current perspective of
existing trends and information. These statements involve risks and
uncertainties that cannot be predicted or quantified and, consequently,
actual results may differ materially from those expressed or implied by
such forward-looking statements. The forward-looking statements speak only
as of the date of this release. The Company undertakes no obligation to
update publicly any forward-looking statement, whether as a result of new
information, future events or otherwise.
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