SOURCE: Proteonomix

Proteonomix

March 10, 2011 09:17 ET

Proteonomix, Inc. (PROT) Enters Into Exclusive License Agreement for Technology to Focus on Mobilization of Bone Marrow Stem Cells

New Technology to Develop Cellular and Biological Products for Regenerative Medicine

MOUNTAINSIDE, NJ--(Marketwire - March 10, 2011) -  PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that on March 2, 2011 it entered into an exclusive license agreement to develop "Mobilization of Bone Marrow Stem Cells technology" ( UMK-121).

Ian McNiece, Chief Scientific Officer of Proteonomix, noted, "This technology, once cleared through clinical trials, may offer novel approaches to treat debilitating diseases. It provides for less invasive and potentially less life threatening modes of delivery of cellular therapeutics for tissue and organ repair. In addition this technology may be delivered in conjunction with other cellular therapeutic products to further enhance the clinical benefits of these products. The new technology broadens the portfolio of the company to develop both cellular and biological products for regenerative medicine and may bring some of its intellectual property closer to clinical trials."

Michael Cohen, Proteonomix, Inc. CEO, stated: "We are thrilled to conclude this significant license agreement. This is unique technology based on existing approved drugs. There is no upfront cost to Proteonomix, Inc. We believe that the commercialization of this technology can provide Proteonomix with significant revenue potential." According to United Network for Organ Sharing ("UNOS") there are over 100,000 patients on the transplant waiting list at any given time. According to the ("NIH") there are over 500,000 patients in end stage Kidney disease. According to Organ Donation and Transplantation ("NWHIC") over 60,000 Americans suffer from End Stage Liver Disease ("ESLD"). Some of the Intellectual Property associated with the patent application was derived from research conducted at a major southeastern academic institution.

A copy of the license agreement can be found at: Proteonomix 8K Exhibit 10.57 March 8, 2011

About Proteonomix, Inc.:

Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix Family of companies includes Proteoderm, StromaCel, National Stem Cell, PRTMI, The Sperm Bank of New York and THOR Biopharma. Proteoderm, Inc. is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel, Inc. develops therapeutic modalities for the treatment of Cardiovascular Disease (CVD). National Stem Cell, Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit http://www.proteonomix.com/, http://www.proteoderm.com/, http://www.otcqb.com/ and http://www.sec.gov/.

Forward-looking statements:

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

Contact Information

  • Contact:

    Proteonomix, Inc.
    Michael Cohen
    CEO
    Phone: +1-973-544-6116
    Email: Email Contact