CLEVELAND, March 19, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC PINK: IVST) announces it has signed a Letter of Intent to acquire a 20% stake in StemVax LLC. StemVax is a Translational Biotechnology Company that is currently developing a cancer vaccine therapy that enhances the patient’s immune response against brain tumors.
StemVax Glioblast (SVX-GB) is a cancer vaccine, which is a medication that stimulates or restores the immune system’s ability to fight an existing cancer by strengthening the body’s natural defenses against the cancer cells.
Dr. Dwain Morris-Irvin, Chief Executive of Innovest’s new Biotechnology & Health Sciences Division, founded StemVax in 2014, and is its CEO. “Innovest is uniquely equipped to provide immeasurably important elements to StemVax that kick things off for StemVax and dramatically improve its potential for success. This is true for other technologies we will encounter, as well. The best way I can show future scientists how Innovest can serve their mission, is to lead by example with my own company,” said Dr. Morris-Irvin. “Dan Martin (Innovest Global CEO) and I have been planning the business model for this division since 2017. It’s unique, and will serve both technologists and Innovest well.”
“Dwain is a brilliant scientist, with a keen understanding of business, and I am extremely impressed with his ability to connect the dots. Scientists face difficult and unique challenges when considering how to proliferate their technologies in a commercial environment. Our Biotechnology & Health Sciences division, under Dwain’s leadership, is the perfect bridge,” said Dan Martin, CEO of Innovest Global.
The StemVax and Innovest teams are working diligently to finalize the StemVax transaction, and the division launch. The agreement features a share exchange, a 5-figure investment at closing by Innovest, and Innovest providing certain business services to StemVax Therapeutics, in exchange for 20% ownership in StemVax LLC (its holding company). The Letter of Intent will be finalized as a completed transaction, upon StemVax completing certain items that are currently being executed. The transaction is expected to close in spring, 2018.
More about Dr. Morris-Irvin:
Dr. Morris-Irvin’s PhD is in Pharmacology and Developmental Neuroscience with an emphasis on neural stem cell fate and differentiation. His research focused on neural development and Notch Signaling in mammalian neural stem cells. He also worked as an NIH/NINDS Post-Doctoral Fellow in Dr. Anders Bjorklund laboratory in Lund, Sweden. There, his focus was on research projects that investigated the potential role of cell replacement therapy for patients with Parkinson’s disease. They developed several protocols for the efficient generation of dopaminergic neurons from forebrain and ventral midbrain stem and progenitor cells.
Additionally, Dr. Morris-Irvin led research investigations in the role of adaptive immunity in Parkinson’s disease. He also developed two patents in the area of immunotherapy for brain tumor patients, specifically Glioblastoma Multiforme (GBM). His research team focused on molecular mechanisms that impart therapeutic resistance in cancer cells, including cancer stem cells. They utilized this data to develop novel immunotherapies for brain tumor patients.
Look for much more information to come soon. As noted consistently, the company will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
Safe Harbor Statement: This news release contains "forward-looking statements", which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume 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 we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
For more information on Innovest Investor Relations, Spotlight Growth, please visit http://www.SpotlightGrowth.com and http://www.Corporate.SpotlightGrowth.com.
You can also follow on social media:
Innovest Twitter: https://twitter.com/InnovestGlobal
Spotlight Growth Twitter: https://twitter.com/SpotlightGrowth
Spotlight Growth Facebook: https://facebook.com/Spotlight-Growth-103630363712364/
Spotlight Growth LinkedIn: https://www.linkedin.com/in/spotlight-growth-732ba1147
Spotlight Growth Instagram: https://www.instagram.com/spotlight_growth/