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SOURCE Vivione Biosciences Inc.
LITTLE ROCK, AR, Feb. 12, 2014 /CNW/ - (TSX-V:VBI) - Vivione Biosciences Inc. ("Vivione") is pleased to announce the signing of a Memorandum of Understanding ("MOU") with South Korean biotech company, AriBio, Inc. ("AriBio"). This strategic alliance is anticipated to combine the strengths of Vivione in the areas of rapid diagnostics and its new in silico compound modeling technology ("Molecular Design") with AriBio's substantial experience in drug design and testing. The alliance also initiates collaborative development efforts on Vivione's retail food freshness indicator currently branded as FQI ('Food Quality Indicator').
"We see this as a win-win for both companies," said Vivione's Chief Executive Officer, Kevin Kuykendall. "AriBio can assist Vivione with accessing the lucrative Asian market and Vivione can help AriBio with companion diagnostics and in silico compound design."
Building on the Cooperative Research and Development Agreement that was signed with the FDA last year, this partnership marks another milestone for Vivione as being its first prospective alliance with a drug development company. The alliance could benefit AriBio by accelerating the drug development process via specific Vivione intellectual property, Molecular Design, which has the potential to enable accurate computer modeling of the efficacy and potential toxicities of compounds. Vivione expects the alliance will expand their food safety footprint beyond the frontline product, the RAPID-B diagnostic platform, and into companion clinical diagnostics with the potential for growth opportunities in the Asian market.
"We are excited to execute an MOU with Vivione, as they have a number of potentially game changing technologies. This strategic alliance also recognizes AriBio's capabilities in efficient drug development in various disease areas including psychosis and infection," according to AriBio Chief Executive Officer Soo-Hyun Sung. "We see our divergent areas of expertise as a strong point in this collaborative effort and we are confident that this will enhance our ability to fulfill current and future technical and business objectives."
The MOU will also position AriBio as an end user of other various Vivione technologies and as a distributor within Asia. AriBio will garner early visibility and access to Vivione's RAPID-B diagnostic platform, Molecular Design and Food Quality Indicator product lines, while offering AriBio a first-mover competitive advantage in the rapid diagnostic industry.
One of the most exciting collaborations under the MOU is for Vivione and AriBio to jointly investigate new uses of Vivione's Molecular Design, the company's chemical engineering software solution platform, to ensure applications are compliant with local regulatory requirements while adopting global industry best practice. Kevin Kuykendall, Vivione's CEO stated, "the coupling of Vivione's new in silico product (Molecular Design) and AriBio's drug development experience allows both companies to work on a revolutionary system that may save drug development companies millions during the drug development phase. An additional benefit of Molecular Design will be the potential to expedite approvals through regulatory bodies because of Molecular Design's potential ability to predict subtle nuances in new drug compounds and allowing the drug company to design around these potential side effects".
Vivione is a TSX Venture Exchange listed biosciences company focused on the commercialization of its proprietary RAPID-B diagnostic platform; an integrated system of hardware, software and chemical reagents that quickly and accurately identify, quantify and qualify bacteria and other pathogens in key food & water safety, clinical, industrial and oil & gas environments. For more information, visit www.VivioneBiosciences.com.
AriBio is a South Korean biotech company focused in drug development for various diseases with unmet medical needs and its business areas also are involved in stem cell for regenerative medicine, cosmetics, functional dietary supplements and natural mineral water. For more information, visit www.Aribio.com.
This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although Vivione believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to Vivione. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. In particular, this press release contains forward-looking information relating to the commercialization and anticipated effectiveness of RAPID-B, Food Quality Indicator, and Molecular Design and the anticipated benefits of Vivione's relationship with AriBio. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, Vivione does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. Vivione undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Vivione, or its financial or operating results or (as applicable), their securities.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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