OTCBB: ELHI – Stockguru Profile – Edgeline Holdings Website
Edgeline Holdings, Inc. has reached a non-binding agreement to acquire Intertech Bio, a newly formed biotech company that is located in Houston, Texas, in an all-stock transaction.
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.
American Biotech is Incredibly Successful
The American biotechnology industry continued to dwarf the rest of the world last year in terms of both products and revenues, according to research by Ernst & Young.
American public biotechnology company revenues stood at $55.8 billion in 2006, representing 76 per cent of the $73.4 billion global total. Spending on research and development in the United States was $23 billion, or more than 82 per cent of the $27.95 billion spent by publicly held biotech companies worldwide.
The US industry also employed more staff than any other region, with 131,500 of the 191,400 people employed by the sector globally. European companies employed 39,740 people. Those in the Asia-Pacific region employed 12,970.
The industry in the US has never been stronger, and its success story spreading opened Ernst & Young’s Global Biotechnology Report for 2007.
William Powlett Smith, an Ernst & Young partner, said that the American industry is supported by the fact that the United States is a single market without price regulation. “As long as that remains the case, it will remain very tough for Europe and Asia to catch up in terms of product revenues,” he said.
The report showed that globally the biotech industry posted strong growth last year, driven by a string of product successes, strong pipelines of new drugs, record-breaking financing results and unprecedented deal activity.
“Time will determine whether these trends will be sustained, but there’s reason for optimism,” the report said. It showed that global deal values also soared last year, with alliances involving American companies totaling $23 billion.
A significant need exists for new therapies which are more effective and/or have reduced side effects.
Intertech Bio is looking for alternative treatments. When a normal cell becomes cancerous, it can spread to various sites in the body. The most common methods of treating patients with cancer are surgery, radiation and drug therapy. A cancer patient often receives treatment with a combination of methods. Surgery and radiation therapy are particularly effective in patients where the disease is localized and has not spread to other tissues or organs. The most common method of treating patients with cancer that has spread beyond the primary site is to administer anticancer drugs by mouth or intravenously. In general, drugs used to treat cancer are classified as chemotherapy. Chemotherapy seeks to damage and kill cancer cells or to interfere with the molecular and cellular processes that control the development, growth and survival of malignant tumor cells. In many cases, chemotherapy consists of the administration of several different drugs in combination. Chemotherapy can cause patient weakness, loss of appetite, nausea and vomiting, and damage to various organs that can result in loss of normal body functions. Current treatment for most kinds of cancer is inadequate.
A significant need exists for new therapies which are more effective and/or have reduced side effects.
Edgeline Holdings, Inc.
1330 Post Oak Blvd.
Suite 1600
Houston, TX 77056
Phone: (713) 621-5208
Email: investors@edgelineholdings.com
Website: www.edgelineholdings.com
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: Thisrelease 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 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. This release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements contain words such as “expects,” “believes,” “anticipates” and “intends.” Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting the B2B environment; continued ability to obtain hardware, software and peripherals at competitive costs; the company’s ability to finance its planned expansion efforts; the company’s ability to manage its planned growth; and changes in regulations affecting the company’s business and such other risks disclosed from time to time in the company’s reports filed with the Securities and Exchange Commission. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management’s expectations, except as required by law.
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