SAN MARINO, Calif.--(BUSINESS WIRE)--VG Life Sciences (Pinksheets: VRALD.PK) (formerly known as Viral
Genetics) published its Fall 2012 Letter to Shareholders which is
available on the company website at:
In the letter, the company’s president, Mr. Haig Keledjian, offers insight into the company’s progress in several key areas:
Driven by the broadening scope of our efforts we have changed our name to VG Life Sciences Inc. Our Board of Directors and I believe this better captures our reach into not only pharmaceutical development but bio-fuels, agricultural applications and the other high growth target markets we are now focused on.
We have also announced several major changes to our capital structure including a reverse stock split and the restructuring of elements of our debt obligations. We believe this results in a capital structure that enhances our credibility and better positions us with potential strategic partners, institutional funding sources and the new executive management talent that we are seeking to hire as we now go forward on this stronger foundation.
Operationally, we just reached an important milestone in our Phase 1 physician-initiated clinical trial for ovarian cancer, and we have also introduced yet another drug candidate (Lyme) to the FDA in a pre-IND submission, while our VG Energy subsidiary launched a research-grade version of its first product, LipidMax™.
Additional details on these programs are available by clicking this link:
About VG Life Sciences, Inc. (formerly known as Viral Genetics)
San Marino, California-based VG Life Sciences, Inc. discovers and develops drug therapies from two exclusively-licensed platform technologies based on over 60 patents: Metabolic Disruption (MDT) and Targeted Peptides (TPT). A physician-initiated Phase I clinical trial of an MDT compound in combination with Nexavar™ on Stage III and IV ovarian cancer patients is ongoing at the Cancer Therapy and Research Center of The University of Texas Health Science Center at San Antonio. A majority-owned subsidiary, VG Energy (www.vgenergy.net) is dedicated to exploring biofuel and agricultural applications for the MDT platform. Founded in 1994, the biotech company is researching treatments for drug resistant cancer, Lyme disease, Strep, Staph and Sepsis, and HIV/AIDS. For more information, visit www.viralgenetics.com.
About VG Energy
VG Energy Inc. is an alternative energy and agricultural biotech company that is a majority-owned subsidiary of VG Life Sciences, Inc. VG Energy holds the exclusive worldwide license to the Metabolic Disruption Technology (MDT) patent rights for use in the increase of production of various oils from algae, plants and seeds. VG Energy’s pivotal discoveries could allow the biofuel industry to overcome its major obstacle in the area of production efficiency: namely, an increase in production yields leading to feasible economic returns on investment, allowing renewable biodiesel to be competitive with fossil fuels. For more information, please visit http://www.vgenergy.net.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by VG Life Sciences Inc. from time to time in its periodic reports, including statements about its VG Energy, Inc. subsidiary. None of VG Life Sciences’ drug compounds are approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world, nor are any non-pharmaceutical products of VG Energy, Inc. commercialized. While VG Life Sciences believes that the forward-looking statements and underlying assumptions are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of VG Life Sciences to establish the efficacy of any of its drug therapies in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of those drug compounds in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, the successful outcome of such studies or tests, or the successful commercialization of VG Energy, Inc.’s non-pharmaceutical products. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by VG Life Sciences or any other person that the objectives and plans of VG Life Sciences will be achieved. VG Life Sciences Inc. disclaims any obligation to update these forward-looking statements, except as required by law.