Edgeline Holdings, Inc. (OTCBB:ELHI)
StockGuru Announces Coverage of ELHI
HOUSTON–(BUSINESS WIRE)–Edgeline Holdings, Inc. (OTCBB:ELHI) announced today that it 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.
“We are pleased that we have reached this tentative agreement with Intertech and will work in an expeditious manner to complete this acquisition within the next thirty days,” stated Carl A. Chase, Vice President of Edgeline Holdings. “We believe that Intertech will be a good fit in our portfolio as we continue to acquire early stage companies that have a tremendous upside opportunity.”
Acquisition Details
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. Cancer is a group of diseases characterized by uncontrolled cell division resulting in the development of a mass of cells, commonly known as a tumor, as well as the invasion and spreading of these cells. Cancerous tumors can arise in any tissue or organ within the human body. Cancer is believed to occur as a result of a number of factors, such as genetic predisposition, chemical agents, viruses and irradiation. These factors result in genetic changes affecting the ability of cells to regulate their growth and differentiation normally. 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. Therefore, a significant need exists for new therapies which are more effective and/or have reduced side effects.
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
This press release 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.
Contact:
Edgeline Holdings, Inc., Houston
J. Leonard Ivins, 713-621-5208
Investors@edgelineholdings.com
Source: Edgeline Holdings, Inc.
View the StockGuru Profile for Edgeline Holdings:
http://www.stockguru.com/profiles/elhi/
We Invite you to Visit the All New StockGuru Blog!
Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks.
Click HERE to visit the Blog, or go to:
http://stockguru.com/blog/
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (469) 252-3030. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC expects to be compensated up to $13,000 cash for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.