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GENova Biotherapeutics signs engagement agreement with PacificWave Partners Limited
Date:9/16/2009

NEW YORK, NY, Sept. 16 /PRNewswire-FirstCall/ - (OTCBB: GVBP.OB) - GENova Biotherapeutics Inc. ("GENova"), a biotechnology company that develops novel therapeutic proteins that disrupt the advance of life-threatening cancers, today announced it has signed an engagement agreement with PacificWave Partners Limited ("PacWave") for raising a minimum of USD5m to the company as well as actively look for potential buy-out and/or acquisition targets.

The deal will entail an upcoming visit to the US where the management team will be meeting hedge funds and institutional investors, PacWave is confident that with the strength of the management team as well as the liquidity in the company's stock that financing can be secured within a timely fashion and under very favorable terms.

In addition to the fund raising effort, PacWave will approach a number of major pharma companies which are currently active making acquisitions of smaller biotech companies and position GENova as a potential next acquisition target.

About PacificWave Partners Limited

PacificWave Partners is a privately held international financial advisory firm providing investment banking services to privately-held and publicly-traded micro, small and mid capitalization companies throughout Asia, Europe and North America. PacificWave is headquartered in Copenhagen, Denmark with offices in San Francisco, Los Angeles and New York and specializes in capital raises between USD5m - USD50m

About GENova Biotherapeutics Inc.

GENova is positioning itself as the world's leading bioscience company in the development and commercial licensing of novel therapeutic proteins that disrupt the advance of life-threatening cancers. The company leverages cutting-edge research collaborations to achieve breakthroughs in anti-cancer treatments, and then licenses these drug product candidates to Big Pharmaceutical and Biotechnology companies such as Pf
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SOURCE GENova Biotherapeutics, Inc.
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