BUDAPEST, HUNGARY 23/3/11 -- Power of the Dream Ventures, Inc. (OTCBB: PWRV), Hungary's premier technology commercialization company, is pleased to announce the signing of an Investment Agreement with Genetic Immunity (www.geneticimmunity.com), one of the leaders of therapeutic vaccine product development.
Cooperation between Genetic Immunity and PWRV dates back to 2009, when PWRV received rights to invest in GI and to issue press releases for the Company. With today's signing of the Investment Agreement over two years of close collaboration has finally come full circle.
Founded in 1998, Genetic Immunity is a leading biopharmaceutical company leveraging its proprietary nanomedicine technology platform to develop Therapeutic Vaccines. DermaVir, the Company's Lead Therapeutic Vaccine Candidate, has been developed for the treatment of HIV/AIDS, with recently completed Phase II clinical trial showing clinically significant median 70% viral load reduction in vaccinated patients as compared to placebo without systemic side effects. Such excellent safety and immunogenicity were seen in up to seventy HIV-infected people treated with DermaVir demonstrating the human Proof of Concept for the technology platform.
"With the signing of this agreement we are taking a quantum leap forward in our goal of assisting Hungarian technology companies enter the international market. Genetic Immunity is one of those once in a lifetime opportunities all investors covet. I am gratified that after two years spent on putting this deal together we finally have the signed agreement. I believe our equity and Warrant coverage will result in nine digit investment appreciation within a very short period of time," commented Viktor Rozsnyay, CEO of PWRV.
"We are pleased to collaborate with PWRV, the lead investment company focusing on highly innovative Hungarian technologies. The experience of PWRV to commercialize breakthrough technologies is synergistic to Genetic Immunity expertise on therapeutic vaccine product development. We believe this partnership will accelerate the growth of Genetic Immunity as a biotech company, expand our product portfolio and create added value for our investors," said Dr. Julianna Lisziewicz, CEO of Genetic Immunity.
Beside the immediate investment the agreement provides Genetic Immunity substantial operational support to raise a minimum of $25 million.
"We were successful in negotiating substantial equity and Warrant coverage. In the coming weeks we will announce a road map for Genetic Immunity, something all participants have agreed on, a plan that will benefit both the shareholders of Genetic Immunity and Power of the Dream ventures," added Viktor Rozsnyay.
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Source: Power of the Dream Ventures, Inc.