SK3 Group, Inc.
PINK SHEETS : SKTO

SK3 Group, Inc.

May 04, 2010 14:12 ET

SK3 Group, Inc. Announces $25M Sale of Biomolecules To Malaysian Company

MIAMI, FLORIDA--(Marketwire - May 4, 2010) - SK3 Group, Inc. (PINK SHEETS:SKTO) today announces that it has signed an agreement with Ananda Sdn. Bhd. ("Ananda") to sell the Malaysian company biomolecules for $25M. 

Ananda's acquisition of the biomolecule inventory is expressly for medical end-use. Among the biomolecules that are subject of this agreement are some that have been identified as suitable for a number of healthcare uses including anti-viral activity, tissue growth, and treatments of some types of cancer. For example, Interleukin-2 ("IL-2") is an immune modulator used to treat some types of cancer, and has already been approved by the FDA.

The biomolecules are produced as a by-product of the proprietary and patented adult stem cell regeneration technology owned by Regenetech (www.regenetech.com). Discovia Life Sciences, the biotechnology and advanced life sciences holding portfolio of parent company Healthcare of Today, sold SK3 Group the biomolecules earlier this year.

Ananda's corporate mission is to market biomolecules in addition to carrying out clinical trials and applications for therapeutic treatment utilizing adult stem cells obtained abroad for treatment in the Southeast Asia region. Ananda will provide medical and therapeutic treatments with the aim of enhancing quality of life. Ananda's offered treatments will be based on the stringent bioethics and corporate social responsibilities of the geographic region in which Ananda operates.

In 2009 SK3's parent company, Healthcare of Today, Inc., entered into a Letter of Intent for a joint venture with the state government of Sarawak for the building and operation of a state-of-the-art stem cell research and treatment facility in Malysia. Sarawak is the largest state in the Federation of Malaysia, located on the western side of the island of Borneo. That joint venture is still under negotiation and will be pursued through SK3.

About Healthcare of Today, Inc.

Healthcare of Today is a vertically integrated healthcare holding company. Founded in 2008, it has since acquired a number of companies, many specializing in the senior care industry. Its direct and indirect subsidiaries are engaged in a wide range of businesses including: nurse staffing, residential care facilities for the elderly, home healthcare services, home healthcare equipment sales, healthcare IT, medical devices, healthcare consulting, insurance, data security, biotechnology, and alternative energy. For further information please visit www.healthcareoftoday.com.

About SK3 Group, Inc.

SK3 Group offers a range of services in the healthcare industry. In addition to offering the most valued healthcare services in the industry today, including hospice care, the company provides supportive healthcare business services. Further information can be found at http://www.sk3groupinc.com.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes", "expects", "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and no responsibility or obligation may be assumed or exists to update the information included herein for events occurring after the date hereof.

Contact Information