Amphion Innovations PLC Partner Company Update
13 Noviembre 2013 - 1:02AM
RNS Non-Regulatory
TIDMAMP
Amphion Innovations PLC
13 November 2013
Amphion Partner Company, WellGen Inc., Awarded NIH SBIR
Grant
London and New York, November 13, 2013 - Amphion Innovations plc
(LSE: AMP) today announces that Partner Company, WellGen Inc.,
which develops natural products with medicinal properties backed by
rigorous scientific research, was recently awarded a National
Institute of Health ("NIH") grant of $293,244.
The NIH grant was awarded for WellGen's Small Business
Innovation Research("SBIR") proposal, entitled "Controlling Type 2
Diabetes with Proprietary Natural Extracts in Medicinal Foods".
Being awarded an SBIR from the NIH is extremely competitive with
only about 10% of proposals receiving a grant. We are very pleased
WellGen has been selected and the company is already in the process
of starting experiments. Laura Philips, CEO of WellGen, said "With
this grant we are able to complete experiments critical to bringing
a medical food product to market for the 26 million people in the
US and over 300 million people worldwide who suffer from Type 2
Diabetes."
The experiments include using two of WellGen's proprietary
extracts in animal models that have been designed to simulate Type
2 Diabetes in humans. These experiments are the required precursor
before clinical trials in humans. If successful, the company will
be eligible to apply for a much larger grant to fund human clinical
trials.
Dietary Supplements and Sports Drink
WellGen has also begun product development discussions with a
sports products company based in the Midwest that currently markets
and sells a rapid rehydration drink that is low in sodium and high
in potassium. They are looking for their next product concept and
believe they can leverage their existing brand and distribution
channels with a second product line based on WellGen's Black Tea
Extract product.
Richard Morgan, CEO of Amphion and Chairman of WellGen, said,
"The positive response we have seen from the NIH and sports
beverage industries reinforces our belief in the inherent value of
the company and its technology."
For further information please contact
Amphion Innovations
Charlie Morgan
+1 212 210 6224
Novella Communications
Tim Robertson / Ben Heath
+44 020 3151 7008
Panmure Gordon Limited
Freddy Crossley / Grishma Patel (Corporate Finance)
Adam Pollock (Corporate Broking)
+44 020 7886 2500
About Amphion Innovations plc
Amphion (LSE: AMP) builds shareholder value in emerging
companies in the medical and technology sectors, by using a
focused, hands-on company building approach, based on decades of
experience in both the US and UK. Amphion has significant
shareholding in 7 Partner Companies developing proven technologies
targeting substantial commercial marketplaces. The Amphion model
has been refined to optimise the commercialisation of patents and
other intellectual property within the Partner Companies. The
Partner Companies collectively own or control over 200 separately
identified pieces of intellectual property, a number which grows
rapidly each year.
On the web: www.amphionplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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