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New York, NY -- (SBWIRE) -- 09/10/2013 -- Nuvilex, Inc. (OTCMKTS:NVLX) , an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, announced today it has contracted Fisher BioServices, Inc. for the long-term storage of cells that will be required for its future Phase 3 and other cancer clinical trials.
In order to ensure the safety and availability of cells to be used for its clinical trials, the Company has engaged Fisher BioServices located in Rockville, MD, USA, near Nuvilex's Silver Spring, MD, headquarters. Fisher BioServices, a part of Thermo Fisher BioScientific, Inc., an international company traded on the New York Stock Exchange with annual revenues of $13 billion and approximately 39,000 employees, is one of the leading companies in critical biological material management and cell and tissue storage with facilities around the world. This cell storage company adheres to Good Tissue Practice and Good Manufacturing Practice guidelines. Fisher BioServices currently stores more than 170 million biospecimens, including cells and tissues.
The Fisher BioServices facility, located in Rockville, MD, will be used as one of several cell storage sites around the world holding the Nuvilex cancer treatment cells. Multi-site storage of our critically important cells is Standard Operating Procedure for companies, such as Nuvilex, that are engaged in the use of cells for therapeutic purposes.
The cells to be stored in the Fisher BioServices facility both here and abroad are the same cells as those used in the Company's past clinical trials for advanced, inoperable pancreatic cancer. These cells have the ability to activate the well-known anticancer drug ifosfamide. They will be maintained in the facility and can be propagated in the event of a loss in the system somewhere else to obtain cells for encapsulation as needed for clinical trials, including the Company's pancreatic cancer treatment.
The share price of NVLX is currently trading with-in the range of $0.14 to $0.16. The company has a market capitalization of $77.56 million whereas its total outstanding shares are 509.93 million. Company’s beta value stands at 0.36 points.
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