Phytomedics Inc. and Vilmorin Clause & Cie Enter Strategic Collaboration
DAYTON, N.J., June 12, 2001 /PRNewswire/ -- Phytomedics Inc., a private biotechnology company and leader in the discovery and development of novel pharmaceutical and nutraceutical products from plants, is very pleased to announce its strategic collaboration with Vilmorin Clause & Cie, one of the world's largest producers of vegetable, flower and tree seeds.
"We are extremely excited about this collaboration with Vilmorin Clause & Cie," said Dr. Bertold Fridlender, President and CEO of Phytomedics Inc. "The synergy between Vilmorin's proprietary germplasm collections and Phytomedics' comprehensive discovery and manufacturing platforms will foster development and commercialization of a new generation of health-promoting crops and plant- derived therapeutic agents that are safe and efficacious."
The power of plant biotechnology has been historically applied to increase crop yield and farm productivity. Novel applications of plant biotechnology for the discovery and manufacturing of nutraceutical and pharmaceutical compounds capable of preventing and treating diseases like auto-immune disorders, cancer and AIDS, are just beginning to be explored. These applications, predicted to dominate agriculture of the future, will allow farmers to grow high-value specialized "health and wellness" products in addition to growing "food calories."
"Over the last two years, Phytomedics Inc. has been assembling an extensive portfolio of technologies and products to solidify its leadership position in botanical pharmaceuticals and nutraceuticals," says Fridlender. "This collaboration with Vilmorin Clause & Cie added another important strategic dimension to our Company by providing world-wide access to thousands of proprietary seed varieties and leading seed producers and farmers."
Phytomedics conducts its R&D under the leadership of Professor Ilya Raskin, Ph.D., at the Biotech Center at Rutgers University. Phytomedics' research staff is comprised of twenty scientists, mostly Ph.Ds, from nine countries working in state-of-the-art facilities.
Phytomedics has a broad research and licensing agreement with Rutgers University that allows the company to exclusively license its core technologies and products.
Phytomedics' lead botanical drug for autoimmune disorders such arthritis, psoriasis, and lupus is currently entering Phase II/III clinical development in the U.S. In addition, Phytomedics has several other products in various stages of development for viral, inflammatory and cardiovascular diseases, diabetes, erectile dysfunction and sleep improvement. Currently, the Company's patent portfolio includes sixteen filed or issued patents protecting its key products and technologies.
About Phytomedics Inc.
Phytomedics Inc. uses a broad and innovative proprietary technology platform to discover, develop and manufacture novel, multi-component and multi-functional botanical therapeutics such as botanical drugs and nutraceuticals, as well as recombinant proteins. Through this proprietary technology platform, the Company has produced a pipeline of pharmaceutical and nutraceutical lead compounds, several of which are in clinical development. Founded by Professor Ilya Raskin, Ph.D., Phytomedics Inc. conducts most of its R&D at the Biotech Center of Rutgers University.
SOURCE: Phytomedics Inc.
65 Stults Road, Dayton, NJ 08810