Press Release: Health Discovery Corporation Announces Worldwide License Agreement with Pfizer
Health Discovery Corporation Announces Worldwide License Agreement with Pfizer SAVANNAH, Ga. -- Health Discovery Corporation (â€œHDCâ€) (OTCBB: HDVY) announced today that it has executed a license agreement with Pfizer Inc. (NYSE: PFE). Under the terms of the agreement, Pfizer may access HDCâ€™s pattern recognition technology for use in its worldwide research and development activities. The license includes HDCâ€™s Support Vector Machine (â€œSVMâ€), Fractal Genomic Modeling (â€œFGMâ€), and related methods for data analysis. Financial terms of this agreement were not disclosed. "I believe this licensing agreement represents a significant step for HDC towards validating the scientific legitimacy and commercial viability of our patented SVM and FGM technologies,â€ said Stephen D. Barnhill, M.D., HDCâ€™s Chairman and CEO. â€œThis license marks our third deal in just the past four months and gives us confidence that our strategic plan is on track.â€ â€œIn my opinion, HDCâ€™s pattern recognition technology can be an important tool for the discovery of new drug targets such as proteins, genes, or other molecules that a drug is intended to affect,â€ commented Dr. Herbert A. Fritsche, Jr., Professor of Laboratory Medicine at the University of Texas M.D. Anderson Cancer Center and Chairman of HDCâ€™s Science Board. â€œOur technology might also be helpful in possible identification of new biomarkers to assess both efficacy and toxic responses to new drugs. As medicine becomes increasingly personalized, discoveries of this nature could facilitate the development of new treatments for diseases.â€ Savannah-based Health Discovery Corporation (OTCBB:HDVY) is uniquely positioned in the field of pattern recognition technology. Through the application of its patent protected technology, HDC is a biology-oriented biomarker discovery company providing all aspects of First-Phase Biomarker Discoverysm. The Companyâ€™s SVM and other pattern recognition tools have significant application potential in other sizable commercial markets such as radiology, Internet search and spam, homeland security, financial futures, and other areas where analysis of large volumes of complex data is required. This news release contains "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the management team of HDC believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.