Navigation Links
Pulmo BioTech Inc. Announces Letter of Intent Regarding Proposed License of its Pulmonary Vascular Diagnostic Product Candidate PulmoBind(TM)

NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- Pulmo BioTech Inc. (OTC Bulletin Board: PLMO; Frankfort Borse: PBO) has announced that it has entered into a non-binding letter of intent with BioTechnology Consulting Poland Sp. z.o.o. to license its Pulmonary Vascular Diagnostic Product Candidate PulmoBind(TM) for development work, clinical trials and ultimately, commercialization in the European market.

"We are very pleased to have signed a non-binding LOI with BioTechnology Consulting Poland. The license agreement contemplated by the LOI will allow Pulmo BioTech to continue with its focus on achieving regulatory approval for PulmoBind in North America while ensuring that European phase trials will be carried out in parallel, allowing rapid entry to the European Market as well as the United States. Under the License Agreement, BioTechnology Consulting Poland will be responsible for all European phase trials and subsequent commercialization across the whole of the European Union and European Economic Area. Further details as to the specifics of this LOI are expected to be announced shortly." - Garry McCann, CEO Pulmo BioTech Inc.

About Pulmo BioTech Inc.

Pulmo BioTech Inc. specializes in the development and marketing of medical technology and research. Our proven strengths combine extensive commercial experience and academic credentials. The principal staff members are acknowledged experts in their specialized fields, and work with a broad range of investment institutions. Our mission is to utilize scientific imagination and drive, together with managerial and financial acumen, to bring innovative and profitable products to the marketplace to the benefit of all stockholders.

ISIN: US7458451074

CUSIP: 745845107


About PulmoScience Inc.

PulmoScience Inc. was established in 2006, and is currently developing a non-invasive Molecular Imaging technique for the diagnosis of Pulmonary Embolism, Pulmonary Hypertension and Lung Inflammatory diseases under the trade name PulmoBind.

PulmoScience was conceived within the Montreal Heart Institute "MHI" (a world renowned hospital and educational facility). Jointly owned by MHI subsidiary Innovacor as the technical and operational partner, Dr. Jocelyn Dupuis (the scientific director and originator of the PulmoBind Molecular Imaging technology), and by Pulmo BioTech Inc. as the funding partner, PulmoScience Inc. aims to develop this unique and exciting technology, to fund necessary trials, and to bring the products to market.

PulmoScience believes that the market for its product candidates is worth in excess of $500 million per annum and that, provided Regulatory Approval is achieved, the safety and efficacy of its products could allow it to dominate that market.

About PulmoBind

PulmoBind uses an intravenously delivered radionuclide tagged molecule which specifically bonds to the inner walls of the circulatory system in the lungs, and by the use of an external Gamma Camera allows an image of the integrity of the blood vessels throughout the lungs to be seen by a diagnostic clinician. PulmoScience is currently undertaking Regulatory Approval for Phase I Human Trials, and while subsequent results from additional tests might not corroborate the current results, PulmoScience believes that PulmoBind has the potential to dominate the market for the diagnosis of Pulmonary Embolism. In particular, this belief is driven by PulmoScience's expectations of the improved safety and efficacy that PulmoBind will offer when compared to the current incumbent nuclear medicine based technology for the diagnosis of Pulmonary Embolism. In addition, early indications are that PulmoBind could be highly effective in the early stage diagnosis of Pulmonary Hypertension, a condition for which there is no current front line diagnostic test. The addressable market for the product candidates being developed by PulmoScience is believed by the company to be worth in excess of $500 million per annum.

About BioTechnology Consulting Poland Sp. z.o.o.

BioTechnology Consulting Poland Sp. z.o.o. is a Polish based company which has been set up to enable the rapid approval of products developed outside the Euro Zone in the European market.

Pursuant to the License Agreement contemplated by the LOI, BioTechnology Consulting Poland will license IP from Pulmo BioTech to enable it to rapidly carry out Phase Trials and ultimately commercialize PulmoBind across the whole of the European Union and European Economic Area.

BioTechnology Consulting Poland counts amongst its key staff, professionals in the areas of medical project management, new business start-up and growth, and medical Phase Trials. BioTechnology Consulting Poland has links with key Polish medical facilities, CROs and Pharmaceutical companies.

Further Information

For further information regarding Pulmo BioTech Inc. or PulmoScience, please visit

Forward-Looking Statements

Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. All statements regarding future performance, earnings projections, regulatory approval, events or developments are forward-looking statements. It is possible that the future performance of the company may differ materially from current expectations, depending on economic conditions and the uncertainty of regulatory approval. A change in economic conditions may have a particularly volatile effect on results. Among the other factors which may affect future performance are: competitive market conditions and resulting effects on sales and pricing; increases in raw-material costs that cannot be recovered in product pricing; and global economic factors, including difficulties entering new markets and general economic conditions such as inflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them.

SOURCE Pulmo BioTech Inc.

SOURCE Pulmo BioTech Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Unomedical Issues Worldwide Recall of Certain Manual Pulmonary Resuscitators
2. Study Results Present Efficacy and Safety Findings from the PHIRST-1 Study of Patients with Pulmonary Arterial Hypertension Taking Tadalafil Tablets Once Daily
3. AFRESA(R) Phase 3 Pulmonary Function Safety Data in Patients with Diabetes Presented at ADA
4. FDA Approves ADCIRCA(TM) (Tadalafil) Tablets for the Treatment of Pulmonary Arterial Hypertension
5. Positive Data From Lung Study May Lead to First FDA Approved Treatment for Pulmonary Fibrosis
6. Pulmo BioTech Inc. Announces Dual Listing on Frankfurt Borse
7. Early Data Show Potential for Imatinib Mesylate Tablets to Treat Life-Threatening Form of Pulmonary Artery Disease
8. APTA Supports Surgeon Generals Call to Action to Prevent Deep Vein Thrombosis and Pulmonary Embolism
9. Phase III Clinical Studies of Aclidinium Bromide Show Statistical Significance vs. Placebo in Patients With Chronic Obstructive Pulmonary Disease (COPD)
10. Pulmo BioTech Inc. Completes Bio-Distribution Studies
11. Positive Mid-Term Results on CryoValve(R) SG Pulmonary Human Heart Valve Presented at Western Thoracic Meeting
Post Your Comments:
(Date:11/26/2015)... 26, 2015 ... "Radioimmunoassay Market by Type (Reagents & ... Academics, Clinical Diagnostic Labs), Application (Research, Clinical ... 2020" report to their offering. ... addition of the "Radioimmunoassay Market by ...
(Date:11/25/2015)... , Nov. 25, 2015  The American ... and Gynecologists (ACOG), and the March of Dimes ... Protecting Our Infants Act of 2015 ... number of newborns born exposed to drugs, such ... the bill,s introduction, all three organizations have worked ...
(Date:11/25/2015)... MELVILLE, N.Y. , Nov. 25, 2015  Henry ... products and services to office-based dental, medical and animal ... Dental (GNYDM) Meeting the Henry Schein ConnectDental® Pavilion ... industry,s broadest array of open solutions designed to help ... Click here for a schedule of ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... November 27, 2015 , ... ... innovative online platform for mental health and wellness consultation, has collaborated with a ... will bridge the knowledge gap experienced by parents and bring advice from parenting ...
(Date:11/27/2015)... ... , ... Avid collector, Andrew Hawley from Vintage Rock Posters, announces his search ... one of Joplin's most famous and beautiful concert posters. The concert was held on ... Arbor. The According to Hawley, "It is hard to believe that Joplin's stardom was ...
(Date:11/26/2015)... (PRWEB) , ... November 26, 2015 , ... ... a real-time eReferral system for diagnostic imaging in the Waterloo region. Using the ... and Nuclear Medicine tests directly from their electronic medical record (EMR) without the ...
(Date:11/26/2015)... Antonio, TX (PRWEB) , ... November 26, 2015 , ... ... On November 19, 2015, our surgeons performed their 6,000th free flap breast reconstruction ... , “We wake up every day excited to rebuild lives and it’s an honor ...
(Date:11/26/2015)... ... 2015 , ... Indosoft Inc., developer and distributor of the world-class Asterisk based ... efficiency and reliability. , The new Q-Suite 6 platform is based on the latest ... itself into a specific piece of software for many key components of the suite. ...
Breaking Medicine News(10 mins):