Hi Dan,
There have been some developments, but most of the things that are happening with the company are yet to be announced.
The new website is up and running, A brief article in the Dick Davis Digest and there was an announcement a couple of weeks ago:
Biomedical Diagnostics Formed to Develop Screening Products for Breast Cancer; President is Veteran Technology Executive
Biomedical Diagnostics Formed to Develop Screening Products for Breast
Cancer; President is Veteran Technology Executive
ANN ARBOR, Mich., Dec 6, 1999 (BUSINESS WIRE) -- Biomedical
Diagnostics, LLC, a new biotechnology research and development firm,
has been formed to develop cancer screening products aimed at allowing
routine medical testing to indicate risk of developing breast cancer.
Formed as a jointly funded venture between Biotherapies Inc. of Ann
Arbor and BioLabs, Inc. of New York, Biomedical Diagnostics was
established within the last year and has been in its early stages of
development. The company is focused on development of an assay based on
the level of Mammastatin in serum. BioLabs provided initial funding of
$1.5 million.
Mammastatin is a protein produced in the breast tissue of most healthy
women and absent or inactivated in most breast cancer patients studied
to date. A Mammastatin replacement therapy is the lead product of
Biotherapies Inc., one of the firms funding Biomedical Diagnostics. The
work of Biomedical Diagnostics is being conducted in parallel with
product development and testing being conducted on Mammastatin by
Biotherapies. The FDA gave approval to Biotherapies for Phase I/II
clinical testing that began last June at M. D. Anderson Cancer Center
in Houston.
Dr. John Todd, general surgeon and an active member of the Breast
Cancer Screening Initiatives Program of the British Columbia Cancer
Agency in Vancouver, commented: "The care of breast cancer patients
constitutes a significant portion of my surgical practice. The results
I have seen to date from the research efforts of Biomedical Diagnostics
are indeed impressive. We are certainly looking forward to their
eventually offering a quick and painless test for earlier detection of
breast cancer risk." Dr. Todd is also the former Chief of Surgery at
Peace Arch Hospital in White Rock, British Columbia.
Dr. Paul Ervin, Founder, Chairman and Scientific Director of
Biotherapies, said, "The feedback from physicians on the preliminary
results of Mammastatin level testing has been very positive. We are
confident that the partnership between Biotherapies and BioLabs to form
Biomedical Diagnostics has focused the proper technology and financial
resources in a way to achieve the most rapid release of a Mammastatin
diagnostic product."
President of the new firm is Jim Arthurs, a veteran technology company
executive who was vice president of operations of grapeVINE
Technologies, a knowledge management software firm, and earlier was a
vice president of Comshare, a software business, for several years.
The new firm is staffed by experienced researchers and scientists whose
backgrounds include work in molecular biology, biochemistry, hybridoma
development, cancer biology research, tissue engineering technology,
flow cytometry methodology, tumor testing systems, and serum testing
for organ transplantation.
The initial focus of the firm's work is development of proprietary test
methods to detect Mammastatin in the body. The result of the
information coming from its work is a report of relative risk for
developing breast cancer based on levels of Mammastatin found. The
first product planned for release is based on a simple blood test. As
the research progresses, the firm will apply for approval from the FDA
for the manufacture and marketing of product. The company's Web site
can be accessed at www.bio-diagnostics.com
About BioLabs
BioLabs, Inc. is a financial incubator of innovative cancer
diagnostics and therapeutics developed by leading biotechnology
research scientists. A publicly traded company, BioLabs (Nasdaq:OTC BB:
BILB) provides both the financial resources and commercialization
strategies for small biotechnology companies making the initial
transition from laboratory-based research and development to
early-stage commercial deployment and eventual wide-scale availability.
These small biotechnology companies are either wholly or partially
owned by BioLabs and operate as distinct entities. Its Web site can be
accessed at www.biolabs.com
About Biotherapies
Biotherapies, Inc. is a privately held biotechnology company
dedicated to the development of better cancer therapies and
diagnostics. Its lead product, Mammastatin, is a protein to control
abnormal cell growth in breast tissue. Its headquarters and research
laboratory are located in the Biotechnology Development Center, 5692
Plymouth Road, Ann Arbor, MI 48105, phone 734-996-9040. The firm's Web
site can be accessed at www.biotherapiesinc.com
From what I gather, the SEC submission is all but approved and when the stock is restored to former trading status other more significant developments will be announced. I think we will see them apply for NASDAQ small cap as soon as they can.
Take care and have a Happy New Year |
