Austrianova announces exclusive licensing deal with Nuvilex Inc for use of Cell-in-a-Box® encapsulated cell technology for diabetes treatment

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Austrianova, announced today that Nuvilex, Inc, has acquired the exclusive worldwide rights to use the cellulose-based live-cell encapsulation technology, Cell-in-a-Box®, for the development of treatments for diabetes based on specific cell types.

Austrianova, an independent living cell encapsulation company based in Singapore announced today that Nuvilex, Inc, an international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, has acquired the exclusive worldwide rights to use Austrianova’s cellulose-based live-cell encapsulation technology for the development of certain cell-type based treatments for diabetes in a multi-million dollar deal.

“We are very excited by these developments” said Brian Salmons, CEO of Austrianova. “We believe that Nuvilex is an ideal partner to bring this product successfully through clinical trials and to the market, based on the skills of its experienced management team". Prof. Walter H Gunzburg, Group Executive Chairman, said "Diabetes has always been the holy grail of encapsulation. The out-licensing of the Cell-in-a-Box® based encapsulation technology for the indication diabetes represents a major step forward for one use of this unique technology platform and validates the data we have obtained with the technology so far".

About Austrianova.
Austrianova Singapore Pte Ltd, a member of the SG Austria group of companies, has been leading the development of novel living cell encapsulation ("Cell-in-a-Box®") technologies from its headquarters at Biopolis, Singapore, since 2007. The company's unique technology protects the encapsulated living cells from rejection by the immune system, allows cells to be easily transported, stored and implanted at specific sites in patients. The technology, which has been proven to be safe in clinical trials carried out in Europe, allows companies to develop one generic cell line for use as a living pharmaceutical in all patients suffering from a particular disease. For more information see http://www.austrianova.com

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Brian Salmons