Biotechnology company CytoDyn Inc. (OTCQB: CYDY) this morning announced its entry into a definitive agreement to acquire privately held ProstaGene, LLC. The company also confirmed that Richard G. Pestell, M.D., Ph.D., M.B.A., F.A.C.P., F.R.A.C.P., founder and CEO of ProstaGene, will join CytoDyn as interim chief medical officer. Following close of the acquisition, which is expected in November, Pestell will transition to the role of chief medical officer. “We are honored to soon have world-renowned cancer researcher Dr. Richard Pestell join CytoDyn as our Chief Medical Officer, with responsibility for leading all PRO 140 programs in non-HIV indications,” Nader Pourhassan, Ph.D., president and CEO of CytoDyn, stated in the news release. “We also have taken this important next step to acquire ProstaGene, which will allow Dr. Pestell to accelerate his CCR5 antagonist research related to cancer. As previously stated, our objective is to evaluate PRO 140 in expanded indications including certain cancers and immunological indications concurrent with advancing our promising HIV programs.”
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About CytoDyn
CytoDyn, Inc. is a publicly traded biotechnology company focused on the development of new therapies for combating infection with immune deficiency viruses. CytoDyn’s lead product candidate, PRO 140, has the potential to drive groundbreaking advancements in developing the next generation of HIV treatments. The clinical-stage biotechnology company engages in the clinical development and potential commercialization of humanized monoclonal antibodies for the treatment and prevention of human immunodeficiency virus infection. Its product pipeline includes PRO 140, CytoFeline, and Cytolin. The company was founded by Allen D. Allen on May 2, 2002 and is headquartered in Vancouver, WA. For more information, visit the company’s website at www.CytoDyn.com
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