Strengthened Intellectual Property Portfolio:
-- Granted a U.S. patent for HPV fusions to treat patients with HPV-
-- Granted a U.S. patent covering heat shock protein fusions to treat
-- Won an important challenge to two U.S. patents; U.S. Patent and
Trademark Office reissued composition of matter and methods of use for
Company's CoVal(TM) fusions
-- Granted European patent covering CoVal(TM) fusion proteins to treat
Gregory M. McKee, President and Chief Executive Officer at Nventa
commented on the year: "2007 was a year of significant events at Nventa. We
are very pleased with the progress we made during the past year as we
advanced new HspE7 (HspE7 + Poly-ICLC) into a Phase 1 clinical trial and
completed the safety evaluation for three of the four cohorts in the trial.
We anticipate completing the evaluation of the remaining cohort by the end
of the second quarter of 2008, and are working diligently to design the
Phase 2 clinical program, expected to begin shortly after this Phase 1
trial, to test new HspE7 in a larger population of patients with cervical
dysplasia." Mr. McKee continued, "With the strength of our Directors, the
addition of two new senior managers and the creation of a distinguished
board of international experts, we look forward to building additional
value for our shareholders through the continued advancement of new HspE7
for human papillomavirus (HPV)-related diseases."
Total Year 2007 and Fourth Quarter Financial Results:
All amounts, unless specified otherwise, are in Canadian dollars.
Nventa reported a net loss of $12,413,000, or $0.06 per share, for the
year ended December 31, 2007, compared to a net loss of $10,067,000, or
$0.12 per share, for the same period in 2006. The increase in net loss in
2007 from 2006 is principally re
|SOURCE Nventa Biopharmaceuticals Corporation|
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