Proteonomix has that it has decided to examine the possibility of licensing its stem cell diabetes related technology to another company in light of continued progress toward its trial of UMK-121, its stem cell treatment for patients awaiting liver transplant to overcome End Stage Liver Disease ("ESLD").
Michael Cohen, President of the Company, stated: "Since we continue our rapid progress toward the commencement of our trial of UMK-121, we have decided to explore the possible licensing of our diabetes related applications of our stem cell technology to another company. This strategic decision is being made in recognition of the increasing breadth of our technology and the need for additional capital and management resources to effectively deal with the massive ramifications of the diabetes applications of the stem cell technology that we have developed."
Mr. Cohen continued: "We have been approached by one group that has expressed interest in exploring such a possibility and we will follow through with this in the coming weeks. Meanwhile we will seek out others interested in a similar transaction keeping in mind at all times that any such deal would have to provide immediate benefit to our shareholders."
Look at Proteonomix's deal history at Current Agreements (subscription required)