Press Release
Source: Viral Genetics, Inc.Emerging Technology Fund awards $750K to new Georgetown research facility.
Austin Business Journal
Monday, April 19, 2010
The Texas Emerging Technology Fund awarded $750,000 to a scientist researching bio-fuel and drug therapy in a new 2,000-square-foot center in Georgetown.
San Marino, Calif.-based Viral Genetics Inc. said Monday it is moving its research facilities to the life science cluster in Georgetown to work with Texas A&M University College of Medicine scientist Karen Newell. The veteran researcher has issued 30 pending patents and authored or co-authored several dozen peer-reviewed papers.
The ETF grant is funding Newell's bio-fuels research and Viral optioned rights to develop commercial applications for her work through the University of Colorado. Those uses include therapies for HIV/AIDS, Lyme Disease, cancer, strep and staph.
“This grant validates an exciting line of research into increasing yields of plant oils including algae bio-fuel and agricultural oils such as palm or corn oil," Viral Genetics CEO Haig Keledjian said.
The project is a joint effort through Texas Life Sciences Collaboration Center, the State of Texas and Opportunity Austin. Viral said the center will initial employ a small team, but it plans to "commercialize its patented processes and ultimately add many additional employees in the future," it said in the release.
The ETF grant will be rolled out over five years. The Georgetown cluster is in the process of adding five new wet labs, a second tissue culture lab, and a Class 1000 clean room and nanotechnology optical laboratory.
About Viral Genetics
Headquartered in San Marino, California, Viral Genetics discovers and develops drug therapies to treat infectious, autoimmune, and immunological deficiency disorders using its targeted peptide technology (TPT), metabolic disruption technology (MDT) and thymus nuclear protein compound (TNP). Viral Genetics has optioned the exclusive right to develop any and all drug therapies based on TPT and MDT technology through an agreement with the University of Colorado and V-Clip Pharmaceuticals (a Viral Genetic’s subsidiary.) Viral Genetics also has an Exclusive License Agreement with the University of Colorado and V-Clip Pharmaceuticals to license technology that appears to explain TNP and may result in additional drug therapies. Viral Genetics has formed a wholly owned subsidiary, MetaCytoLytics, Inc, to advance its research into MDT. Online at www.viralgenetics.com.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. None of Viral Genetics’ drug compounds are approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Viral Genetics believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of any of its drug therapies, including VGV-X, VGV-L, and VGV-S, in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of those drug compounds in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.
Contact:
Viral Genetics, Inc.
Haig Keledjian, 626-334-5310
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