Entest BioMedical's Chairman Provides Update on Veterinary Clinic Acquisitions, Business Expansion and ImenVaxTM Safety Study
McDonald Animal Hospital Is Expanding Operations in Santa Barbara
Entest Has Identified Two More Veterinary Clinics as Acquisition Candidates
ImenVaxTM 10 Dog Safety Study Is Recruiting Dogs With Cancer for Participation
SAN DIEGO, CA--(Marketwire - January 26, 2011) - Today Entest BioMedical Inc. (OTCBB: ENTB) Chairman & CEO David Koos provided an update on the Company's activities since the January 4th acquisition of the McDonald Animal Hospital (MAH) in Santa Barbara, California.
Mr. Koos stated, "Since the closing of the acquisition of MAH by the Company, all of us at Entest have been working diligently towards the goals of growing revenues at MAH, acquiring additional clinics and moving things forward on the ImenVaxTM 10 Dog Safety Study. Currently we are examining two more veterinary facilities that show a great deal of promise as acquisition candidates. Combined annual revenue from these two clinics is approximately $1.5 million and they have room for expansion."
Mr. Koos continued "Regarding our MAH facility, we are in the process of adding additional veterinarians, developing advertising campaigns to drive business, expanding the hours of operation and providing emergency services on weekends. It is my goal to double the revenue at MAH over the next 18 months."
A Company Spokesperson noted that Entest has installed a Director of Veterinary Practice Management, Jennifer Hammervold, to oversee future acquisition candidates and coordinate their integration into the Company. This position will aid Entest in streamlining the acquisition process, providing substantive valuation of a clinic to Entest's business model prior to extensive due diligence.
Finally, Mr. Koos noted, "We are currently recruiting dogs with cancer to participate in our ImenVaxTM 10 Dog Safety Study. ImenVaxTM is an immuno-therapeutic cancer vaccine being developed for dogs. Everyone involved with this research is anticipating strong results in the treatment of oral melanoma. I have two basset hounds that are a major part of my life, which makes me dedicated to finding therapies and treatments that lead to a better quality of life for all our pets. ImenVaxTM is the first step in my commitment and Entest's commitment to a greater standard of living for our pets."
About Entest BioMedical Inc.:
Entest BioMedical Inc. (OTCBB: ENTB) is a developer of veterinary medicines that harness the animal's own reparative / immunological mechanisms. The company's products include an immuno-therapeutic cancer vaccine for canines (ImenVaxTM). The company's immuno-therapeutic cancer vaccine utilizes an encapsulation device as the vaccine delivery system and requires a simple implant procedure.
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Entest BioMedical Inc.
David R. Koos
Chairman & CEO