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CLEVELAND, Aug. 06, 2018 (GLOBE NEWSWIRE) -- StemVax Therapeutics, an Innovest Global Inc. (OTC Pink Current: IVST) (the “Company” or “Innovest”) holding, has been awarded an exclusive worldwide license agreement from Cedars-Sinai Medical Center in Los Angeles, CA, for all of the intellectual property needed to commercialize the StemVax Glioblast brain tumor vaccine.
“The StemVax business model is a low cost, high output strategy of partnering with a major health organization to get the technology to market and start helping people,” said Dr. Dwain Morris-Irvin, President of Innovest’s Biotech Division, the StemVax Chief Science Officer, and co-author of the intellectual property. “This agreement, which was negotiated over a nine month period, is critical because we now has everything we need, and we have it all in house.”
Innovest announced the approved patent of the primary technology on July 25th, 2018. Now, Cedars-Sinai Medical Center, the organization that filed for that patent, has provided StemVax the exclusive, worldwide right to it and three other related Intellectual Properties subsequently filed for patent protection.
“This illustrates Dr. Irvin’s status as a scientist, and is exactly the type of progress Innovest shareholders are thrilled to see. It’s progress, but it’s also just a little better than you might have thought possible,” said Dan Martin, CEO of Innovest Global. “When an organization like Cedars grants these types of rights, and Dr. Irvin’s peers and co-authors sign-off on the arrangement – these are monumental endorsements of him and StemVax. I’m honored to be a part of it, and excited that Innovest continues to engage with people and organizations that are world class.”
Cedars-Sinai Medical Center is a non-profit hospital and academic health science center located in Los Angeles, California. They employ over 2,000 physicians and are considered one of the top hospitals and research organizations in the world. Dr. Irvin previously was one of their key contributors in the areas of research that he founded StemVax to pursue.
More about StemVax Therapeutics:
StemVax Therapeutics is a Translational Biotechnology Company that develops novel therapies for brain tumor patients. We focus our efforts on developing immunotherapeutic approaches to treating patients with Glioblastoma Multiforme (GBM), a devastating brain cancer. We also focus our research efforts on novel drug development to target Cancer Stem cells and other multi-resistant cancer cells. We seek to make a difference in patient’s lives. Bringing new beginnings to the market by developing novel therapeutics.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is in the Conglomerates industry, a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Innovest Global utilizes novel technology and marketing to efficiently acquire customers. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, and a Biotechnology & Health Services Division.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.