ImmuneRegen BioSciences(R) Initiates Strategic Collaboration With MPI Research to Accelerate Clinical Development of Lead Indications
Posted on April 21, 2010 at 08:00 AM EDT
SCOTTSDALE, AZ -- (Marketwire) -- 04/21/10 -- ImmuneRegen BioSciences, Inc.®, a wholly owned subsidiary of IR BioSciences Holdings, Inc. (OTCBB: IRBS), entered into a strategic collaboration with MPI Research today. Under the agreement, MPI Research will develop and perform preclinical, FDA-required safety studies and analytical research services in support of ImmuneRegen's lead drug candidate, Homspera®, which are expected to enable Phase 1 human clinical studies. Mutually agreeable financial incentives have been incorporated into the terms of this agreement.
"The signing of today's agreement with MPI Research allows us to begin our FDA-required safety studies immediately," said ImmuneRegen CEO Michael Wilhelm. "ImmuneRegen expects that the resulting studies will provide information necessary to support planned INDs for indications such as influenza, idiopathic pulmonary fibrosis, and cancer. With this relationship, ImmuneRegen garners independent validation that the potential of our compound has significant value to industry. We feel our visibility to potential new partners will only increase as we achieve the significant milestones set forth by our development team. This is a pivotal time for the company and we believe this relationship confirms management's belief that our company is significantly undervalued."
William U. Parfet, MBA, Chairman and CEO of MPI Research, also recognizes the value this cooperative agreement creates and stated, "ImmuneRegen and MPI Research are both innovative companies that, together, create a synergy that is important within today's drug development industry. This collaboration reflects the flexible, solution-based mindset of each organization, allowing them to effectively leverage their respective strengths and resources."
About MPI Research
About ImmuneRegen BioSciences, Inc.
Statements about the Company's future expectations, including statements about the potential use and scientific results for the Company's drug candidates, science and technology, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. These future events may not occur as and when expected, if at all, and, together with the Company's business, are subject to various risks and uncertainties. The Company's actual results could differ materially from expected results as a result of a number of factors, including the uncertainties inherent in research and development collaborations, pre-clinical and clinical trials and product development programs (including, but not limited to the fact that future results or research and development efforts may prove less encouraging than current results or cause side effects not observed in current pre-clinical trials), the evaluation of potential opportunities, the level of corporate expenditures and monies available for further studies, capital market conditions, and others set forth in the Company's periodic report on Form 10-Q for the three months ended September 30, 2009 as filed with the Securities and Exchange Commission and report on Form 10-K for the year ended December 31, 2008 as filed with the Securities and Exchange Commission. There are no guarantees that any of the Company's proposed products will prove to be commercially successful. The Company undertakes no duty to update forward-looking statements.
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