Power of the Dream Ventures Acquires Genetic Immunity

05.10.2012

 

Power of the Dream Ventures Acquires Genetic Immunity
 
BUDAPEST, Hungary, September 28, 2012 – Power of the Dream Ventures, Inc. (PWRV), is pleased to announce the acquisition of Genetic Immunity, Inc. a Phase III clinical stage biotech company with experimental nanomedicines that will lead to the next generation of immunotherapies in a market that that is projected to reach $11.00 billion by 2018.
Genetic Immunity’s lead product candidate is an immune boosting drug for HIV, which is now only treated by antiretroviral drugs that decrease the ability of the immune system to fight with the virus. DermaVir HIV-specific immunotherapy is the first of a new line of curative nanomedicine products developed for the treatment and eradication of HIV. In addition, Genetic Immunity has implemented a Predictive Genomic Biomarker as companion diagnostics to accurately predict potential responder patients to DermaVir treatment. Such innovations towards personalized medicine increase the treatment effect and reduce the cost of pivotal trials in full compliance with the FDA’s initiatives to improve products for patients (Driving Biomedical Innovation, 2011). In addition, following a successful DermaVir trial on HIV-infected adults, the US government is sponsoring a Phase II pediatric clinical trial.
DermaVir is 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.
“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, the 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.
“Through this highly innovative financial transaction Genetic Immunity achieves its corporate objective to became 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.
With the acquisition Genetic Immunity becomes a 100% wholly owned subsidiary of Power of the Dream Ventures, Inc.
 
 
Contacts:
 
Mr. Viktor Rozsnyay
President and CEO
Power of the Dream Ventures, Inc.
Phone: +36-1-456-6061
Fax: +36-1-456-6062
 
Dr. Zsolt Lisziewicz
Chief Operating Officer Genetic Immunity, Inc.
Phone: +36-1-272-0364
Cell: +36-30-211-6402