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Viral Genetics Creates Subsidiary to Develop Cancer Therapy
2009 AUG 17 - (NewsRx.com) -- Biotechnology company Viral Genetics (Pink Sheets: VRAL) has formed a wholly owned subsidiary called MetaCytoLytics, Inc. This company was created to advance a technology developed by University of Colorado Professor M. Karen Newell called "metabolic disruption technology" (MDT), which focuses on blocking a tumor cell's ability to generate energy from glucose or from fatty acids. That process has been found in animal studies to not only directly cause cancer cells to die but also to synergize with existing treatments such as chemotherapy and radiation therapy to further limit the growth of tumor cells. Dr. Richard J. Trauger, Ph. D., will be chief executive officer of the new company. He will focus on bringing this concept forward into clinic trials and expanding the indications provided by the technology platform. "The potential for this technology platform is quite exciting," said Dr. Trauger. "Metabolic disruption is a concept that has tantalized cancer researchers for decades. We believe that we finally have the knowledge and tools to turn this concept into a clinical reality." Dr Karen Newell and her team at the University of Colorado at Colorado Springs have performed over 400 metabolic disruption technology experiments with a large panel of disrupting compounds for proof of principal--either in vitro or in animal models. Dr. Newell, who has been on the cutting edge of metabolic disruption of tumor cells for many years helped develop the process for Viral Genetics. "The results are consistently supportive that metabolic disruption, in combination with conventional therapies, is very promising for combating drug resistant tumors," said Dr. Newell. Prior to joining MetaCytoLytics, Inc., Dr. Trauger was the senior director for infectious disease and cancer at Hollis Eden Pharmaceuticals. He served as product leader for that company's lead cancer compound to treat prostate and breast cancer. "Metabolic disruption technology holds tremendous hope for patients with drug resistant tumors," said Haig Keledjian, CEO of Viral Genetics. "Dr. Trauger has worked in the biotech industry for 20 years and for the last 15 years has focused exclusively on bringing new cancer therapies to the clinic. We believe that he has the knowledge and experience to take this program forward. Creating a new corporation dedicated to that effort is critical to give this science the attention it deserves. At the same time, it enables Viral Genetics to remain focused on its core mission of pursuing treatments for autoimmune diseases, in addition to our primary focus of HIV and AIDS." Viral Genetics has an option to acquire exclusive rights to the metabolic disruption technology from the University of Vermont and the University of Colorado, where the technology was invented and developed by Dr. Newell. Viral Genetics is completing negotiations to convert the option into an exclusive worldwide license covering a broad range of uses and specific therapeutic compositions. Upon completion of certain benchmarks, Dr. Trauger will have the opportunity to acquire a 25% stake in the new company. Viral Genetics has taken additional steps to strengthen its place in the marketplace by filing an unaudited financial statement at www.PinkSheets.com. That statement covers the company's financials for the last 18-months through March 31, 2009. Viral Genetics also recently retired a significant portion of its debt, enabling the majority of any new funding to go directly to bringing new drugs to the marketplace. Keywords: Alternative Medicine, Biotechnology, Cancer, Cancer Research, Chemotherapy, Conventional Therapies, Drug Development, Drug Resistance, Drug Therapy, Genetics, Genomics, Oncology, Radiation Therapy, Treatment, Virology, Viral Genetics Inc. This article was prepared by Biotech Business Week editors from staff and other reports. Copyright 2009, Biotech Business Week via NewsRx.com.
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