From BBNS, Kerry Hot Off the Wire
Date: Mon, 5 Jan 1998 18:36:50 -0500
To: grizz <grizz@the-link.net>
Reply-To: naclip@www.newsalert.com
Subject: News Story
Cryogenic Solutions Inc. Licenses TeloVector Technology to Costa Rican Clinic
Business Wire - January 05, 1998 18:27
%CRYOGENIC-SOLUTIONS CYGS %TEXAS %BIOTECHNOLOGY %MEDICINE V%BW P%BW
HOUSTON--(BUSINESS WIRE)--Jan. 5, 1998-- Mike Skillern, newly appointed president of Cryogenic Solutions Inc. (OTC BB:CYGS), announced that CSI has agreed to license its TeloVector(TM) technology to Clinica Lirpa, S.A. of Costa Rica.
Clinica Lirpa, S.A. is especially interested in the gerontology (anti-aging) and oncology (anti-cancer) applications of the TeloVector. The license agreement will permit Clinica Lirpa, Ltd. to utilize the company's ssDNA vector technology for research, trial, and commercial purposes in Costa Rica. Clinica Lirpa will be responsible for all regulatory compliance and approval in Costa Rica as a term of the agreement.
As a condition of the license agreement, Clinica Lirpa, has agreed to "preferential access" for anyone owning 5,000 or more shares of CSI common stock as of March 1, 1998. "Essentially, Clinica Lirpa will confirm reservations to qualified individuals with at least 5,000 shares registered in their name," said Skillern. "Everyone else will be served on a space available basis. This preferential access will be for all services offered by Clinica Lirpa, not just services developed from our TeloVector(TM)."
In April 1997, the company acquired technology and began perfecting the patent for their TeloVector(TM) which can synthesize single strands of DNA (ssDNA) inside cells to repair telomere ends shortened during cell division (mitosis).
"Hopefully, history will show 1997 as a groundwork year, and 1998 as our breakthrough year for real progress," said chairman Dell Gibson. "We are planning a series of announcements throughout the first quarter of 1998 now that our telomeric ssDNA vector cassette is ready for cell studies."
Clinica Lirpa spokesman, Jorge Castro Olmos expressed full confidence in the potential of the TeloVector(TM) technology. "We are pleased to be the first medical facility that will offer the therapies the ssDNA vector will provide, and we're looking forward to demonstrating the full range of possibilities."
CONTACT: Cryogenic Solutions Inc., Houston
Dell Gibson, 713/780-1399
email: cygs@wt.net
website: biogenix.com |
