SOURCE: Proteonomix

Proteonomix

March 10, 2010 09:24 ET

Proteonomix, Inc. Announces the Formation of PRTMI RD S.R.L. as a PRTMI Subsidiary

MOUNTAINSIDE, NJ--(Marketwire - March 10, 2010) -  Proteonomix, Inc. (PINKSHEETS: PROT) announces that its wholly-owned subsidiary, Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI"), has created a subsidiary, PRTMI RD S.R.L., a corporation organized under the laws of the Dominican Republic ("DR").

PRTMI RD was formed as a result of the television interview of Michael Cohen, President of Proteonomix, on a medical cable television network based in the DR. Its purpose is to fulfill PRTMI's mission (reported in a press release dated February 10, 2010) in the DR.

PRTMI RD intends to continue the translation in the DR of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine and to seek a seamless transition between laboratories and patient care facilities in the DR. Neither Proteonomix, nor PRTMI or PRTMI RD has yet developed hospital affiliations in the DR. The DR has sophisticated medical facilities, and Proteonomix is confident that relationships can be established in the future.

Michael Cohen, President of Proteonomix, stated, "We have located excellent hospital and research facilities in the Dominican Republic. The DR would be an ideal venue for the inauguration of our expansion of research and development and therapeutics. If suitable hospital and laboratory facilities can be found and will work with us, we anticipate that relationships in the Dominican Republic can generate revenue to us through the licensing of our intellectual property."

Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteonomix has facilities at a number of academic institutions. Its subsidiary, Proteoderm has developed a line of anti-aging cosmetics. Please visit www.proteonomix.com, www.proteoderm.com, www.pinksheets.com and www.sec.gov.

Certain statements contained herein are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that the statements made in this press release relating to PRTMI RD constitute forward-looking statements and makes no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.

Contact Information

  • Contact:
    Michael Cohen
    Proteonomix, Inc.
    (973) 544-6116