Company Announces Corporate Restructuring to Focus on Strategic Alliances
SAN DIEGO, Oct. 8 /PRNewswire-FirstCall/ -- Nventa Biopharmaceuticals Corporation (TSX: NVN), a company developing innovative therapeutics for the treatment of viral infections and cancer, today provided an update on its ongoing development programs. The company also announced that it will initiate a corporate restructuring that will extend the company's financial resources to pursue near-term corporate development opportunities, sale of specific programs, M&A and alternative financial arrangements to maximize the value of its assets.
"We are committed to the continued advancement of HspE7, Hsp 6/11 and Poly-ICR, and as such, we are making difficult yet necessary decisions today to ensure these products have every opportunity to succeed," said Gregory M. McKee, president and chief executive officer at Nventa. "As part of our commitment to the continued advancement of HspE7, Hsp 6/11 and Poly-ICR, we are aggressively seeking strategic alliances, including merger and acquisition opportunities, which will allow us to realize the greatest value for each of these important programs."
HspE7: Lead Product Candidate for the Treatment of Cervical Intraepithelial Neoplasia (CIN)
A recently completed Phase 1 clinical trial of HspE7, a novel
therapeutic candidate intended for the treatment of precancerous and
cancerous lesions caused by the human papillomavirus (HPV), demonstrated an
excellent safety profile, while providing compelling data to support
HspE7's immunologic activity. Based on the positive Phase 1 trial results,
the next planned initiatives include Phase 2 clinical studies that will
evaluate HspE7 as a potential treatment for both low-grade cervical
dysplasia (CIN 1
|SOURCE Nventa Corporation|
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