Amphion Innovations PLC Portfolio Company WellGen Completes $3M Funding Proceeds To Go Toward Studying Anti-Obesity Food Ingredient.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Amphion Innovations plc ("Amphion")(LSE LSE - Language Sensitive Editor :AMP.L), the developer of technology and life sciences businesses, today announces that one of its portfolio companies, WellGen, Inc., a biotechnology company using nutrigenomics to discover and develop plant-based wellness products, has completed its Series B financing totaling $3M. The capital raised from this latest round of financing will provide additional resources for WellGen to begin clinical studies in humans under its Obesity and Inflammation Programs, aimed at developing and bringing to market a variety of new and promising nutritional products on which the company is working. Investors in this round of financing include both new and existing WellGen shareholders. Amphion's $1M investment, previously announced in August 2005, brings its ownership stake in the firm to 19%. WellGen's Obesity Program is based upon the study of a proprietary gene panel comprised of carefully selected genes that are known to be associated with obesity. Functional food ingredients coming out of this program are anticipated to control weight via a gene-controlling mechanism of action that is different from those of other products on the market. Encouraged by animal studies that were completed in late 2005, WellGen anticipates beginning human clinical studies during 2006. Richard Morgan Richard Morgan may refer to the following people:
"With obesity reaching almost epidemic proportions, there is a vast and growing need for safe and effective bioactives to address this important market. We are pleased to see WellGen's patented screening technologies addressing obesity, inflammation, and other equally serious conditions and we're excited to increase our investment." David Evans David Evans may mean:
"We are pleased with the results that we are seeing and that our shareholders have confidence in WellGen's ability to identify, develop and successfully commercialize consequential con·se·quen·tial adj. 1. Following as an effect, result, or conclusion; consequent. 2. Having important consequences; significant: ingredients for the wellness market." About Amphion Innovations plc Amphion Innovations plc recently listed on the AIM Exchange in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life science and technology companies, working in partnership with corporations, governments, universities, and entrepreneurs seeking to commercialize their intellectual property. On the Web: www.amphionplc.com About WellGen WellGen, Inc. is a biotechnology company that is developing products for food, therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. , and dietary supplement Noun 1. dietary supplement - something added to complete a diet or to make up for a dietary deficiency diet - a prescribed selection of foods vitamin pill - a pill containing one or more vitamins; taken as a dietary supplement markets. WellGen's technical platform is a method of screening the effect of food and related substances on the expression of genes associated with human health conditions. The company has developed proprietary substances that help reduce risk and severity for a variety of diseases. Please visit our website at www.wellgen.com for more information. |
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