Biotechnology company CytoDyn Inc. (OTCQB: CYDY) this
morning announced its entry into a definitive agreement to acquire privately
held ProstaGene, LLC. The company also confirmed that Richard G. Pestell, M.D.,
Ph.D., M.B.A., F.A.C.P., F.R.A.C.P., founder and CEO of ProstaGene, will join
CytoDyn as interim chief medical officer. Following close of the acquisition,
which is expected in November, Pestell will transition to the role of chief
medical officer. “We are honored to soon have world-renowned cancer researcher
Dr. Richard Pestell join CytoDyn as our Chief Medical Officer, with
responsibility for leading all PRO 140 programs in non-HIV indications,” Nader
Pourhassan, Ph.D., president and CEO of CytoDyn, stated in the news release.
“We also have taken this important next step to acquire ProstaGene, which will
allow Dr. Pestell to accelerate his CCR5 antagonist research related to cancer.
As previously stated, our objective is to evaluate PRO 140 in expanded
indications including certain cancers and immunological indications concurrent
with advancing our promising HIV programs.”
To view the full press release, visit http://ibn.fm/bzkm4
About CytoDyn
CytoDyn, Inc. is a publicly traded biotechnology
company focused on the development of new therapies for combating infection
with immune deficiency viruses. CytoDyn’s lead product candidate, PRO 140, has
the potential to drive groundbreaking advancements in developing the next
generation of HIV treatments. The clinical-stage biotechnology company engages
in the clinical development and potential commercialization of humanized monoclonal
antibodies for the treatment and prevention of human immunodeficiency virus
infection. Its product pipeline includes PRO 140, CytoFeline, and Cytolin. The
company was founded by Allen D. Allen on May 2, 2002 and is headquartered
in Vancouver, WA. For more information, visit the company’s website at www.CytoDyn.com
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