Ventana Biotech Inc
PINK SHEETS : VNTA

Ventana Biotech Inc

August 26, 2009 09:08 ET

PE Consortium and Ventana Signs Agreement for Collaborative Venture

NEW YORK, NEW YORK--(Marketwire - Aug. 26, 2009) - Ventana Biotech Inc ("Ventana") (PINK SHEETS:VNTA), a biotechnology company that is developing a ground breaking appetite-suppressing chewing gum today announced it has signed is in collaboration negotiations with PE Consortium Ltd, a company that focuses on the research and development and outsourcing of new obesity treating drug targets. The two companies have signed a Letter of Intent with a view to sign a collaboration agreement.

The two companies have formalized their desire to collaborate in a recent Letter of Intent, and are presently preparing the contractual details of their collaboration. They plan to primarily focus on the sourcing of obesity treatments, but are open to future expansion to other therapeutic areas as well.

PE Consortium Ltd's strength lies in identifying and acquiring promising obesity treatments through the relationships it has built with academic research institutions around the world, their expertise and experience in that area would be a welcome enhancement to Ventana's current sourcing efforts.

About Ventana Biotech Inc

Ventana is positioning itself as the leading bioscience company in the development and commercial licensure of novel therapeutic anti-obesity drug treatment. The company leverages cutting-edge research collaborations to achieve breakthroughs in innovative anti-obesity treatments, and then licenses these patented drug product candidates to Big Pharmaceutical and Biotechnology companies.

FORWARD-LOOKING STATEMENTS:

Statements about Ventana's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. Ventana's actual results could differ materially from expected results. Ventana does not undertake any obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this objective, Ventana will appropriately inform the public.

For more information about Ventana Biotech Inc please contact investor@ventanabiotech.com

Contact Information

  • Ventana Biotech Inc
    Janne Christensen, CEO
    BCB 1 Bachstrasse
    Butschwil CH-9606
    Switzerland
    Mobile: +44 7930 732 426