Nventa Provides Corporate Update and Advancement Plans for HspE7, Hsp 6/11 an...(ich benign tumors grow on the larynx voc...)

Date:10/8/2008

ich benign tumors grow on the larynx, vocal cords and trachea. Combined, GW and RRP affect more than 2.5 million people worldwide and represent an estimated global market potential of more than $1 billion. There are currently no approved cures for either condition. Early preclinical data suggest that Hsp 6/11 has the ability to elicit strong T-cell responses against HPV types 6 and 11 target antigens. Next steps for Hsp 6/11 include finalizing manufacturing and formulation protocols and filing an IND. Partnering or adequate financing are required for these efforts to continue.

Corporate Restructuring and Focus on Corporate Development Efforts

With the support of a unanimous decision by Nventa's board of directors, the company will undertake a corporate restructuring designed to extend the company's financial resources and increase the focus on corporate development efforts surrounding the company's core assets. Key elements of the restructuring include:

-- A sixty percent reduction of staff from 13 to 5. As part of this

reduction, Richard B. Lai Fatt, Ph.D., vice president of corporate

development and David Duncan, Jr., vice president of finance, will be

leaving the company. Peter Emtage, Ph.D. will remain as vice

president of research and development. Concurrent with the

restructuring, board members, Jay M. Short, Ph.D., Joann Data, M.D.,

Ph.D., Gordon Busenbark, and Sandford D. Smith, as well as all members

of the scientific advisory board, will be stepping down. Robert

Rieder will become chairman of the board and John Varian will continue

as the audit committee chair.

-- A reduction of annualized cash burn of approximately 30 percent.

-- An increased focus of corporate resources toward monetizing the

company's core assets. As part of this, the company will expand its

corporate development efforts for the pur
'/>"/>

SOURCE Nventa Corporation Copyright©2008 PR Newswire. All rights reserved

1 GOOD

Page: 1 2 3 4 5 6 7 8
Related biology technology :

1. Nventa Initiates HspE7 Phase 1 Cervical Dysplasia Trial
2. Nventa announces publication of HspE7 data
3. Nventas CEO to present at two upcoming investor conferences
4. Nventa updates progress of cervical dysplasia trial with new HspE7
5. Nventa Biopharmaceuticals Corporation announces third-quarter 2007 financial results
6. Nventa completes enrollment and initial dosing of second cohort in Phase 1 HspE7 safety trial
7. Nventa Biopharmaceuticals Reports Full Year 2007 and Fourth Quarter Financial Results
8. Nventa Appoints John Varian to Board of Directors
9. Nventa Appoints Gordon H. Busenbark to Board of Directors
10. CardioDynamics Provides 2007 Shareholder Meeting Update
11. Pressure BioSciences, Inc. Reports Second Quarter 2007 Financial Results and Provides Business Update