Published on September 11, 2009 at 1:32 AM
Nuvilex, Inc. (OTC Bulletin Board: NVLX), announces today that it has entered into a Joint Venture Agreement with Legacy Biotechnologies, Inc., a private company based in Tampa, Florida, to develop and market all natural remedies for symptoms of broad spectrum flu viruses.
Legacy Biotech has been heavily involved with research and development for the purpose of creating all natural remedies to help prevent and treat broad-spectrum flu-type symptoms resulting from influenza-like illnesses, including swine flu. Legacy Biotechnologies has finalized a two-step protocol that offers a unique method to help decrease the duration and severity of these symptoms that will be ready for the market within the next 60 days . As part of the Agreement, Nuvilex will share in the ongoing revenue stream derived from the sale of this product and Legacy Biotechnologies will obtain worldwide rights to certain Nuvilex intellectual property.
In addition, Legacy Biotechnologies will be working with one of the proprietary compounds previously developed by Knock-Out Technologies, Ltd., a wholly-owned subsidiary of Nuvilex. Legacy Biotechnologies will be conducting and funding specific clinical research to determine the general anti-viral capacity of the proprietary Knock-Out compound. The ultimate goal of joint venture is to allow Legacy Biotechnologies and Nuvilex to commercialize a full line of nutraceutical supplements with clinically validated anti-viral action.
"We are very excited to be joining with Legacy Biotechnology in this joint venture," stated Martin Schmieg, Chairman and Chief Executive Officer of Nuvilex, Inc. "Although they work on differing modes of action, the natural remedies from Legacy Biotechnologies and the proprietary formula from Knock-Out Technologies complement each other synergistically. This joint venture allows both companies the chance to complete a comprehensive product line of all natural anti-viral treatments for broad-spectrum flu-type symptoms in a more thorough and expeditious manner."
Source: http://www.nuvilex.com