NEW YORK, Dec. 22, 2015 (GLOBE NEWSWIRE) -- Microlin Bio, Inc., a development stage biotechnology company focused on the development of microRNA based therapeutics for cancer, today announced the successful completion of its merger with the American Boarding Company (OTC:AMIB). The combined company will be called Microlin Bio, Inc. and will trade on the OTC Markets under the symbol "AMIB." The Company has submitted an application to change its trading symbol.
Following this transaction, the Company has a total of 20,000,000 shares outstanding.
"Becoming a public company is a key element of our growth strategy, and the completion of this reverse merger is a significant accomplishment for the Microlin Bio team," said Joseph Hernandez, Chief Executive Officer and Executive Chairman of Microlin Bio. "We believe that our microRNA-based oncology therapeutics have tremendous potential, and that becoming a publicly traded company affords us the greatest opportunity to position Microlin Bio to capture this large and growing market opportunity."
Microlin Bio will continue to develop its lead anti-microRNA candidate, anti-miR-21, which has demonstrated positive results in a preclinical model of lung cancer.
MicroRNAs are recently discovered naturally occurring RNA molecules (composed of 19 to 25 nucleotides) that do not encode proteins but instead regulate gene expression and various biological pathways. The improper balance of microRNAs are linked to many diseases, including cancer. As such, replacement or inhibition of deregulated microRNAs may act as a potent means to treat cancers.
About Microlin Bio, Inc.
Microlin Bio, Inc. is a development stage biotechnology company focused primarily on the development of microRNA based therapeutics to treat cancer from technologies licensed from Ohio State University. This includes over 138 pending patent applications and 132 granted patents covering numerous microRNAs. For more information, please visit www.microlinbio.com.
Microlin Bio Forward-Looking Statements
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect Microlin Bio's business and Microlin Bio undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Contact The Ruth Group Lee Roth (investors) [email protected] (646) 536-7012 Ashley Brown (media) [email protected] (646)536-7002