PharmaCyte Biotech, Inc. (OTCQB: PMCB), a clinical-stage biotechnology company focused on developing targeted cellular therapies for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, today announced that it will hold a Special Shareholder Meeting on September 11, 2019. The shareholder meeting, not to be confused with a shareholder conference call, will be held at the Courtyard by Marriott in Irvine, California, and will begin at 11:00 a.m. Pacific Daylight Time.
During the meeting there will be an update on PharmaCyte’s current research-related projects followed by a question and answer session regarding the update. The meeting will then turn to management matters, such as: (i) amending PharmaCyte’s Articles of Incorporation to provide the Board of Directors (“Board”) the power to designate the rights and preferences of PharmaCyte’s preferred stock; (ii) election of six directors as nominated by the Board’s Nominating Committee and approved by the Board, each to serve a one-year term; (iii) ratification of the appointment of Armanino LLP as PharmaCyte’s independent registered public accounting firm for the fiscal year ending April 30, 2020 and (iv) to consider and act upon any other business as may properly come before the Special Shareholder Meeting.
PharmaCyte’s Chief Executive Officer, Kenneth L. Waggoner, stated, “This shareholder meeting will be the first during my tenure as CEO. Since the new management team took over in 2014, we have faced untold challenges and hurdles virtually every day. We have persevered. We believe we’re on the brink of a new dawn for the company as we work collaboratively with so many stellar professional colleagues to showcase the unique Cell-in-a-Box®technology in which so many have worked so diligently over the past several years. We feel that it is important to realize our full potential while, at the same time, bringing value to and protecting our shareholders who have stood by us for so long.
“We look forward to meeting many of our long-standing and new shareholders who can attend and in implementing the steps that will enable us to succeed on numerous fronts.”
About PharmaCyte Biotech:
PharmaCyte Biotech is a clinical stage biotechnology company developing cellular therapies for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as “Cell-in-a-Box®.” This technology will be used as a platform upon which therapies for several types of cancer and diabetes are being developed.
PharmaCyte’s therapy for cancer involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or “cancer-killing” form. For pancreatic cancer, these encapsulated cells are implanted in the blood supply to the patient’s tumor as close as possible to the site of the tumor. Once implanted, a chemotherapy drug that is normally activated in the liver (ifosfamide) is given intravenously at one-third the normal dose. The ifosfamide is carried by the circulatory system to where the encapsulated cells have been implanted. When the ifosfamide flows through pores in the capsules, the live cells inside act as a “bio-artificial liver” and activate the chemotherapy drug at the site of the cancer. This “targeted chemotherapy” has proven effective and safe to use in past clinical trials and results in little to no treatment related side effects.
PharmaCyte’s therapy for Type 1 diabetes and insulin-dependent Type 2 diabetes involves encapsulating a human cell line that has been genetically engineered to produce, store and release insulin in response to the levels of blood sugar in the human body. PharmaCyte is exploring the use of genetically modified liver cells, stem cells and beta islet cells. The encapsulation will be done using the Cell-in-a-Box® technology. Once the encapsulated cells are implanted in a diabetic patient, they will function as a “bio-artificial pancreas” for purposes of insulin production.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement because of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements due to the impact of numerous risk factors, many of which are discussed in more detail in our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.
More information about PharmaCyte Biotech can be found at www.PharmaCyte.com. Information may also be obtained by contacting PharmaCyte’s Investor Relations Department.