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GENova to acquire three new drug target patents worth in excess of $1 billion in royalty fees
Date:9/10/2009

NEW YORK, Sept. 10 /PRNewswire-FirstCall/ - (OTCBB: GVBP.OB) - GENova Biotherapeutics, Inc., ("GENova"), a biotechnology company that develops novel therapeutic proteins that disrupt the advance of life-threatening diseases, is pleased to announce that it is in the process of acquiring three promising new drug target patents that could generate over a billion dollar in royalty fees in the mid to long term.

Aaron Whiteman, CEO for GENova says, "Following a rigorous evaluation phase, we have selected three potential blockbuster drug target patents for acquisition, and we look forward to integrating them into our IP portfolio." The acquisition targets still subject to due diligence and contract would include both preclinical and clinical drugs that show promising potential in the major markets of anti-cancer and anti-infective drugs.

GENova will announce details of these new biological products in the coming weeks.

GENova's Current IP Portfolio

The three new patents would join GENova's current proprietary IP products --tetanolic acid (for breast cancer) and prostaganin (for prostate cancer)-- in the company's growing IP portfolio.

Known as an alpha hydroxyoleic acid, tetanolic acid is a form of a lipid that has the demonstrated ability to affect the growth and proliferation of cells. Seeing that cancer is characterised as a normal proliferation of cells, these lipids can potentially prevent cancer spread. Preliminary tests in mice have shown that the protein can prevent the growth and spread of cancer in mice. GENova's Tetanolic acid is therefore a prime candidate for development of an anti-cancer medicament in humans. The breast cancer therapeutics market is expected to grow from its current level of US$5.9 billion (EUR5 million) to $11.5 billion by 2011, with a compound annual growth rate (CAGR) of 9.8 per cent (Frost Sullivan).

GENova's proprietary peptide for prostate cancer, Prostaganin, de
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SOURCE GENova Biotherapeutics, Inc.
Copyright©2009 PR Newswire.
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