Proteonomix, Inc. (PROT) Announces the Formation of New Subsidiary, THOR BioPharma, Inc., to Provide an Entry Into the Pharmaceutical Market
MOUNTAINSIDE, NJ -- (Marketwire) -- 03/03/11 -- PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that it has formed a new subsidiary called THOR BioPharma, Inc., a Nevada Corporation. THOR BioPharma has been established with the intention to initialize the entry of Proteonomix into the Bio Pharmaceutical market. Proteonomix plans on utilizing THOR BioPharma Inc. to serve as a platform for technology it will seek to license that focuses on pharmaceutical products.
THOR Biopharma's mission is to develop therapeutic biological agents capable of enhancing stem cell therapies to provide lifesaving clinical treatment of patients with debilitating diseases. THOR will focus initially on the licensing and development of therapeutic agents for critically ill patients.
About Proteonomix, Inc.:
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix Family of companies includes Proteoderm, StromaCel, National Stem Cell, PRTMI, The Sperm Bank of New York and THOR Biopharma. Proteoderm, Inc. is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel, Inc. develops therapeutic modalities for the treatment of Cardiovascular Disease (CVD). National Stem Cell, Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit http://www.proteonomix.com/, http://www.proteoderm.com/, http://www.otcqb.com/ and http://www.sec.gov/.
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
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