MabCure Completes Key Acquisition
11 Luglio 2008 - 2:00PM
Marketwired
RENO, NV (the "Company" or "MabCure").
The Company is pleased to announce the closing, today, of the
acquisition of a proprietary platform technology for the rapid and
efficient generation of monoclonal antibodies (MAbs). In its first
application the Company will be focusing on creating novel MAbs
against cancer markers (the "MAbs Technology").
The acquisition was made pursuant to an asset purchase agreement
dated January 10, 2008, with Indigoleaf Associates Ltd. and Dr.
Amnon Gonenne. The consideration given for the MAbs Technology was
25,638,400 shares in the common stock of the Company.
The Company is also pleased to announce that, in connection with
the acquisition, Dr. Amnon Gonenne has been appointed as a director
and the President and Chief Executive Officer of the Company. Dr.
Gonenne replaces Yapp Moi Lee who has resigned as a director and
the President, Chief Executive Officer and Chief Financial Officer.
Other changes to the Company's management include the appointment
of Dr. Elisha Orr as a director and the Chief Technology Officer of
the Company. Dr. Orr, the inventor of the MAbs Technology and a
cancer researcher, replaces Pua Soo Siang. Additionally, Martin
Bajic has been appointed as the Chief Financial Officer of the
Company.
About MabCure
MabCure is a biotechnology company whose vision is to change the
perception of cancer as a largely incurable disease. MabCure owns
proprietary technology for the creation of unique and highly
specific MAbs against several cancers which could potentially
identify these diseases in their earliest stage. These MAbs are the
first candidates for the development of novel diagnostic tools,
imaging agents and drugs to treat the corresponding cancers.
MabCure's primary mission is to develop novel diagnostics for the
early detection of cancer when the disease is still localized and
treatable, and where the chances for cure are greater than 90
percent. For further information visit the Company's website
www.mabcure.com
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933, as amended, and Section 21E of the United States
Securities Exchange Act of 1934, as amended. Statements in this
news release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such
forward-looking statements include, among others, statements as to
the intended uses of the proceeds received from the private
placement.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the change of business focus of the
management of the Company and the inability of the Company to
pursue its current objectives. These forward-looking statements are
made as of the date of this news release and the Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although the Company believes that
the beliefs, plans, expectations and intentions contained in this
news release are reasonable, there can be no assurance those
beliefs, plans, expectations, or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's periodic reports filed from time-to-time with the
Securities and Exchange Commission and available at
www.sec.gov.
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Marketwire
For further information, please contact: Corporate
Communications 888-399-3989 Email Contact
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