PASADENA, Calif., Feb. 13, 2013 /PRNewswire/ -- Immunotech Laboratories, Inc. ( PINKSHEETS : IMMB) Announced $2M Funding approval from Bulgarian Immunotech Partnership Company (Immunotech BG) to begin clinical trials for HIV-AIDS advanced stages.
Immunotech's associate company in Bulgaria (Immunotech BG) today confirmed the negotiations with two of the largest Bulgarian Hospitals for the start of Clinical Trials for the US Company's patented IPF-ITV and IPF-ITV Phases on 50 advanced stage patients.
Immunotech Director Bo Linton today commented "We believe that in both cases, the results will be very encouraging, as to this point we have already applied the medicine with volunteers and the results have been highly successful in Bulgaria, where the use of the vaccine labeled as an 'Experimental Drug' is permitted. The results of the Clinical Tests in Bulgaria should significantly help Fast-Track the FDA approval process in the USA, with the ultimate goal of the IPF medicines being available for treatment of HIV-AIDS patients in the USA."
Company President Harry Zhabilov stated, "The clinical trials in Bulgaria are scheduled to begin in March 2013 and will end in August 2013, which will give us the necessary results to receive approval for increased application for mass distribution for our IPF medicine."
Immunotech Laboratories BG will provide the necessary funding up to $2M for all of the above mentioned activities and contracts and all necessary related to the project, including in the USA.
About Immunotech Laboratories
Immunotech Laboratories is a drug development company committed to the commercialization of its proprietary proteins for the treatment of debilitating infectious diseases such as HIV, Cancer, Hepatitis and Aids. Immunotech is committed to creating drugs for the better health of mankind.
Safe Harbor Statement: 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 Immunotech Laboratories, Inc. from time to time in its periodic reports filed with the SEC. IPF is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Immunotech Laboratories 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 Immunotech Laboratories to establish the efficacy of IPF in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of IPF 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, Immunotech Laboratories or any other person that the objectives and plans of Immunotech Laboratories will be achieved should not regard the forward-looking statements as a representation.
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SOURCE Immunotech Laboratories, Inc.