Ceramic Industry

GENova and TheraGlass in Advanced Negotiations (posted 9/23/09)

September 23, 2009

GENova Biotherapeutics Inc. recently announced that it is in advanced negotiations to acquire a number of patents from TheraGlass Ltd. Classified as a medical device, TheraGlass interacts with the body’s tissues to stimulate cell growth and provide anti-bacterial, structural and regenerative proteins. The two companies are actively exploring the possibilities and opportunities of combining TheraGlass IP with GENova's drug targets, which would create a new class of therapeutic drugs for the treatment of cancer.

The two companies have entered into a letter of intent (LOI) for GENova to acquire a number of TheraGlass Ltd.’s patents. The deal is expected to close in the fourth quarter.

“The potential for augmenting cancer treatments with a regenerative product like TheraGlass is tremendous,” said Aaron Whiteman, GENova’s CEO. “While GENova's treatments destroy cancerous cells, TheraGlass can stimulate healthy cells to regenerate, thus expediting the healing process.”

TheraGlass Ltd. has an exclusive international position for the commercialization of sol-gel derived bioactive glass under the trade name TheraGlass. Discovered by Professor Larry Hench and developed at Imperial College London, TheraGlass is the next generation of bioactive glass, a medical device material that can interact with the body's hard and soft tissues to stimulate cell growth, accelerating the body’s self-healing properties.

For more information, visit www.genovabio.com.