NuView Life Sciences Secures $90 Million Capital Commitment from Global Emerging Markets for Development of NV-VPAC1™ Cancer Portfolio
Clinical stage oncology firm NuView Life Sciences announces a $90 million agreement with international investment group GEM Global Yield for the purpose of developing a promising Theranostic.
PARK CITY, Utah, Aug. 3, 2020 /PRNewswire-PRWeb/ -- NuView Life Sciences, Inc. announced that it has signed an agreement with GEM Global Yield LLC SCS, a Luxembourg-based private, alternative investment group. Under the accord, GEM agrees to purchase common shares from NuView on a firm commitment basis with an aggregate value of USD$90 million, upon NuView filing a Registration Statement with the U.S. Securities and Exchange Commission (SEC). The agreement provides NuView a 36-month drawdown period.
NuView will use funds to complete a 600-patient in vitro double-blind clinical trial in accordance with the U.S. Food and Drug Administration (FDA) approval process. NuView will also allocate funds for its in vivo diagnostics and Theranostic programs.
NuView controls the timing and maximum amount of drawdown under this facility and has no minimum drawdown obligation.
The NV-VPAC1(TM) test has been successfully utilized for in vitro and in vivo diagnostics detecting multiple types of cancer. In clinical studies, the test showed its ability to accurately detect cancer cells and their location not only inside the body, but outside as well, in voided biofluids, confirming the presence of shed cancer cells. NuView is confident the test has the potential for diagnosing a variety of cancers, transforming patient care. The GEM endorsement greatly expedites the process towards potential commercialization.
"This agreement with GEM helps to secure the funding for continued growth and development of NuView's NV-VPAC1(TM) portfolio. As we focus on moving our in vitro cancer diagnostics into the marketplace, we can simultaneously restart our in vivo diagnostics and Theranostic programs forward," stated Paul Crowe, Chairman and CEO of NuView.
About The GEM Group:
Global Emerging Markets is a $3.4 billion, alternative investment group with operations in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets that provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com
About NuView Life Sciences, Inc.:
NuView Life Sciences, located in Park City, UT, is an innovative, clinical stage, precision oncology company. NuView's mission is to change the way cancer is currently diagnosed and treated. The earlier cancer is identified, the better the treatment options are and the greater the chances for successful outcomes. To learn more about NuView Life Sciences, please visit http://www.nuviewlifesciences.com.
Forward-Looking Statements:
This release may contain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995 or by the SEC in its rules, regulations, and releases. These forward-looking statements include, among other things, statements of plans, objectives, expectations, or intentions. Forward-looking statements involve risks, uncertainties and assumptions and actual results may differ materially from those expressed in these forward-looking statements. You should not put undue reliance on any forward-looking statements in this communication. We do not have any intention or obligation to update forward-looking statements after the date of this communication, except as required by law.
SOURCE NuView Life Sciences
Share this article