PARAMUS, N.J., Oct. 4, 2012 /PRNewswire/ -- PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that the Company's clinical trial of UMK-121 has received IRB (Institutional Review Board) approval and is now ready for the recruitment of patients.
We thank the University of Medicine & Dentistry of New Jersey for providing the IRB and their invaluable contribution to this study of the UMK-121 drug therapy on patients with End Stage Liver Disease.
As previously announced, the Company entered into an Agreement to conduct the clinical trial with the UMDNJ. That Agreement required the Company to pay expenses associated with the clinical study which the Company has done to date.
Michael Cohen, President of the Company, stated: "The financing that was required to complete the Company's obligation with respect to the Trial was provided by the private placement of our Series E Preferred Stock on Friday, March 9, 2012. We previously announced that we have engaged the University to conduct the trial and thanked the University for their assistance with the finalization of the agreement to conduct a clinical trial of UMK-121. The Company has previously described the terms of the agreement to license and develop and the patent application of the UMK-121 technology. The Company will work together with the University and the principal investigators to initiate the clinical study. The approval of the IRB was required before the study could go forward. The investigators can now accept patients into the study."
About the University of Medicine and Dentistry of New Jersey
The University of Medicine and Dentistry of New Jersey (UMDNJ) is New Jersey's only health sciences university with more than 6,000 students on five campuses attending three medical schools, the State's only dental school, a graduate school of biomedical sciences, a school of health related professions, a school of nursing and New Jersey's only school of public health. UMDNJ operates University Hospital, a Level I Trauma Center in Newark, and University Behavioral HealthCare, which provides a continuum of healthcare services with multiple locations throughout the State.
About Proteonomix, Inc.
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix family of companies includes Proteoderm, StromaCel, PRTMI and THOR Biopharma. Proteoderm is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel develops therapeutic modalities for the treatment of cardiovascular disease and for treatment of patients who have suffered post-myocardial infarction. Proteonomix Regenerative Translational Medicine Institute, Inc. (PRTMI) intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Additional information is available at www.proteonomix.com and www.proteoderm.com.
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
SOURCE Proteonomix, Inc.