Power of the Dream Ventures announced the acquisition of Genetic Immunity, a Phase III clinical stage biotechnology company with experimental nanomedicines. The market for nanomedicines is projected to reach $11.00 billion by 2018. With the acquisition, Genetic Immunity becomes a 100% wholly owned subsidiary of Power of the Dream Ventures.
"This acquisition milestone is the result of our collaboration for a common goal to sell stock in Genetic Immunity to the public. The acquisition of a private company by a public one corresponds to a novel IPO, and offers tremendous upside potential for all the shareholders of Genetic Immunity and PWRV. Starting today, financial market participants will have an opportunity to determine the price of our business. We are eager, because comparable technology companies trade at over half a billion dollar valuation. On a more personal note, I believe that Genetic Immunity's platform technology is a once in a lifetime opportunity. For the first time we are truly in reach of eradicating a highly infectious disease. We are proud to be a part of the process whereby the innovations presented by Genetic Immunity can become publicly available," commented Viktor Rozsnyay, CEO of Power of the Dream Ventures.
Genetic Immunity's lead product, DermaVir, is the first of a new line of curative nanomedicine products developed for the treatment of HIV. DermaVir is also the first therapeutic vaccine that consistently boosts broadly directed central memory T-cells in human subjects. This immune response has been correlated with containment of viremia in Elite Controllers. The Phase II randomized, multicenter, placebo controlled trial conducted in Germany established the optimal DermaVir dose and provided data that demonstrates the killing of HIV-infected cells. Therefore, the eradication of HIV or the conversion of progressors to Elite Controllers via DermaVir immunization became a testable hypothesis.
The company has also implemented a Predictive Genomic Biomarker as companion diagnostics to accurately predict potential responder patients to DermaVir treatment. The use of personalized medicine tactics increase the treatment effect and reduce the cost of pivotal trials in full compliance with the FDA's initiatives to improve products for patients. The US government is also sponsoring a Phase II pediatric clinical trial.
"Through this highly innovative financial transaction, Genetic Immunity achieves its corporate objective to become a publicly traded company and to retain the control over the business. The financial and technological synergy between the two Companies provides for substantial growth opportunity and high return on investment to our shareholders," said Dr. Julianna Lisziewicz, CEO of Genetic Immunity.
Genetic Immunity is a clinical stage technology company committed to discovering, developing, manufacturing, and commercializing a new class of immunotherapeutic biologic drugs for the treatment of viral infections, cancer, and allergies. The unique mixture of technologies represents the next generation of personalized, but not individualized, medicines, ensuring a longer and higher economic return.
For more information please visit geneticimmunity.com
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