Cleveland BioLabs Enters Strategic Partnership With Roswell Park Cancer Institute
January 12 2007 - 10:08AM
PR Newswire (US)
Company to Receive up to $5 Million of Non-dilutive Funding from
Roswell Park and Various New York Agencies CLEVELAND, Jan. 12
/PRNewswire-FirstCall/ -- Cleveland BioLabs, Inc. (NASDAQ:CBLI)
(BSE:CFB), today announced that it has entered into a strategic
research partnership with Roswell Park Cancer Institute to develop
the Company's cancer and radio-protectant drug candidates. Roswell
Park and various agencies of the state of New York will provide
Cleveland BioLabs with up to $5 million of non-dilutive funding.
Cleveland BioLabs will establish a major research/clinical facility
at the Roswell Park campus in Buffalo, NY, which will become the
foundation for its advanced research and clinical trials. The
Company will have an open-ended license to any basic research
conducted within or in collaboration with its Roswell Park
laboratory. Roswell Park Cancer Institute (RPCI), founded in 1898,
is a world-renowned cancer research hospital and the nation's first
cancer research, treatment and education center. RPCI is a member
of the prestigious National Comprehensive Cancer Network, an
alliance of the nation's leading cancer centers and is one of only
10 free-standing cancer centers in the nation. Dr. David C. Hohn,
President & CEO of Roswell Park Cancer Institute, stated, "We
are tremendously excited about our partnership with Cleveland
BioLabs. They are offering a unique treatment platform and an
extensive pipeline of cancer drug candidates in advanced
development, including their Phase II oral, cancer compound and
family of radio-protectants. The Company's recent finding regarding
proliferation of adult stem cells following administration of one
of its radio-protectant compounds is particularly interesting.
Cleveland BioLabs fits our ideal vision of innovative research,
which drives fundamental new understanding of the prevention,
causes, control and cure of cancer. This partnership will grant our
cancer patients early access to promising new treatments and will
provide a commercial development pathway for many of Roswell Park's
new discoveries." Dr. Michael Fonstein, President & CEO of
Cleveland BioLabs, commented, "We are enormously pleased to partner
with Roswell Park to enhance the speed and efficiency of our
clinical research. Roswell Park is one of the leading cancer
research and treatment hospitals in the world and the partnership
will give us access to state-of-the art clinical development
facilities and globally recognized cancer researchers. We believe
that our proprietary technology, combined with the assistance of
Roswell Park will position Cleveland BioLabs as a leading oncology
company. Our strategy is to partner with world-class institutions
to aid us in accelerating our drug development timeline. This
agreement adds a new dimension to our research and development
capabilities and we are proud to be supported by both the Cleveland
Clinic, one of our founders, and Roswell Park." About Roswell Park
Cancer Institute Roswell Park Cancer Institute, founded in 1898, is
the nation's first cancer research, treatment and education center
and is the only National Cancer Institute-designated comprehensive
cancer center in Upstate New York. RPCI is a member of the
prestigious National Comprehensive Cancer Network, an alliance of
the nation's leading cancer centers. Roswell Park has affiliate
sites and collaborative programs in New York, Pennsylvania and in
China. For more information, visit RPCI's website at
http://www.roswellpark.org/, call 1-877-ASK-RPCI (1-877-275-7724)
or e-mail . About Cleveland BioLabs, Inc. Cleveland BioLabs, Inc.
is a drug discovery and development company leveraging its
proprietary discoveries about programmed cell death to treat cancer
and protect normal tissues from exposure to radiation and other
stresses. The Company has strategic partnerships with the Cleveland
Clinic Foundation, ChemBridge Corporation and the Armed Forces
Research Radiobiology Institute. To learn more about Cleveland
BioLabs Inc., please visit the company's website at
http://www.cbiolabs.com/. This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including without
limitation, statements regarding potential benefits of the research
partnership. Forward-looking statements often are preceded by words
such as "believes," "expects," "may," "anticipates," "plans,"
"intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Our actual results could differ
materially from those anticipated in these forward-looking
statements as a result of various factors. Some of the factors that
could cause future results to materially differ from the recent
results or those projected in forward- looking statements include
the "Risk Factors" described in our Registration Statement on Form
SB-2/A filed with the Securities and Exchange Commission on
September 8, 2006. Contact: The Global Consulting Group Rachel
Levine T: (646) 284-9439 E: DATASOURCE: Cleveland BioLabs, Inc.
CONTACT: Rachel Levine of The Global Consulting Group,
+1-646-284-9439, or , for Cleveland BioLabs, Inc. Web site:
http://www.cbiolabs.com/ http://www.roswellpark.org/
Copyright