Edgeline Holdings Announces the Acquisition of Intertech Bio Has Been CompletedHOUSTON--(BUSINESS WIRE)--Dec 4, 2007 - Edgeline Holdings, Inc. (OTCBB:ELHI) announced today that it has completed the acquisition of Intertech Bio Corporation. Intertech Bio currently focuses on developing novel cancer treatments specifically targeting the brain, pancreatic and ovarian tumors. Intertech Bio will be moving to offices near the Texas Medical Center in Houston, Texas which is home to some of the most premier cancer treatment centers in the world.
Intertech Bio's medical team has many years developing and working with new cancer therapies, several which are currently in various stages of obtaining FDA approval. This team is founded by Dr. Waldemar Priebe who is a Professor of Medicinal Chemistry, Department of Experimental Therapeutics at The University of Texas, M.D. Anderson Cancer Center located in Houston, Texas and Dr. Timothy Madden who is the Director of The University of Texas M.D. Anderson Cancer Center, Pharmaceutical Development Center located in Houston, Texas.
"We are excited that we have closed on this acquisition and look forward to fully exploring some of the early stage technologies that are currently being evaluated," stated Len Ivins, Chief Executive Officer of Edgeline Holdings. "Cancer is a disease that has touched most of us or a family member and we hope that Intertech will be able to develop a therapy that can play a part in treating this deadly disease."
About Intertech Bio Corporation
Intertech Bio is a developmental stage biopharmaceutical company with a primary focus on developing products to treat cancer, infectious diseases and other medical conditions associated with compromised immune systems. Cancer is a group of diseases characterized by uncontrolled cell division resulting in the development of a mass of cells, commonly known as a tumor, as well as the invasion and spreading of these cells. Cancerous tumors can arise in any tissue or organ within the human body. Cancer is believed to occur as a result of a number of factors, such as genetic predisposition, chemical agents, viruses and irradiation. These factors result in genetic changes affecting the ability of cells to regulate their growth and differentiation normally. When a normal cell becomes cancerous, it can spread to various sites in the body.
About Edgeline Holdings, Inc.
Headquartered in Houston, Texas, Edgeline Holdings, Inc. is a publicly traded holding company that specializes in the area of discovering and acquiring leading-edge niche technologies. These technologies will be incubated and nurtured into market ready applications. Edgeline's current and prospective portfolio consists of early stage companies that require management expertise to further develop the technology to ultimately maximize the value of such technologies by bringing them to market through licensing arrangements and partnerships.
Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire and develop technologies that are and may be acquired. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Edgeline's future business and financial results, refer to Edgeline's Quarterly Report on Form 10-QSB for the quarter ended September 30, 2007 and Annual Report on Form 10-KSB for the year ended March 31, 2007. Edgeline Holdings undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
Edgeline Holdings, Inc., Houston
J. Leonard Ivins, 713-621-5208
Posted: December 2007