Nuvilex restructures for biotechnology focus
Nuvilex, an international biotechnology company and former provider of natural products, as well as cell and gene therapy solutions for the treatment of diseases, has restructured corporate operations in an effort to focus on its biotechnology core businesses.
The restructuring was precipitated by the company's recent acquisition of Bio Blue Bird, now a wholly owned subsidiary. This acquisition carries with it exclusive worldwide rights to the use of the live-cell encapsulation-based technology for the development of treatments for all types of cancers. This is initially highlighted by the company's preparations for phase III clinical trials of its treatment for advanced, inoperable pancreatic cancer.
The company has restructured and created three new divisions, two of which are biotechnology divisions. The first of these, Nuvilex, will house the live-cell encapsulation technology and all of its associated licenses; the technology will be used for the development of treatments for cancer and diabetes. The second division, Medical Marijuana Sciences, will focus on the use of constituents of Cannabis for the development of treatments for brain and pancreatic cancers. This division will also include certain products from the company's Knock-Out Technologies subsidiary. A third non-biotech division will consist of nutraceutical formulations and their associated product names.