Monash University Takes Equity in Norwood Immunology.Business Editors/Health/Medical Writers MELBOURNE, Australia--(BUSINESS WIRE)--June 18, 2003 Norwood Abbey Ltd. (ASX ASX See: Australian Stock Exchange :NAL NAL National Agricultural Library (Agricultural Research Service; US Department of Agriculture) NAL New American Library NAL National Accelerator Laboratory NAL National Aerospace Laboratory (Japan) ), the Melbourne-based medical technologies commercialization company, today announced that its subsidiary, Norwood Immunology, has entered into a full licensing agreement with Monash University Facilities in are diverse and vary in services offered. Information on residential sevices at Monash University, including on-campus (MRS managed) and off-campus, can be found at [2] Student organisations covering all aspects of the intellectual property associated with their Immunology Project. The agreement incorporates an equity participation in Norwood Immunology by the commercial arm of Monash University, Monash Commercial Pty Ltd PTY LTD Propriety Limited (company structure in Australia) . The Deputy Vice Chancellor of Monash University, Professor Gary Bouma, commented today, "The decision to move from being a research partner to a commercial partner by taking an equity position, represents a model for a university to realize long-term commercial returns from ground-breaking medical research. This equity partnership recognizes Monash's belief in Norwood's ability to translate these scientific discoveries into a commercially viable project." Norwood Abbey Executive Chairman Peter Hansen said today, "Norwood Abbey's core expertise is in the management, marketing and commercialization of medical technologies. The decision by Monash to take equity underscores the special quality of Norwood Abbey and shows the way forward in marrying research and business. Norwood has invested in excess of $6.0 million in the project and currently believes that, even after planned capital raisings, it will continue to hold a very substantial majority shareholding. The initial Monash equity position is 3.125%." "Monash sees this as a great opportunity to collaborate with one of Victoria's leading medical technologies commercialization companies," said Monash Commercial Business Development Manager, Dr. David Lyster. The project involves reviving the immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. by rejuvenating a critical organ critical organ n. The organ or physiological system that would first be subjected to radiation in excess of the maximum permissible amount as the dose of a radioactive material is increased. , the thymus thymus Pyramid-shaped lymphoid organ (see lymphoid tissue) between the breastbone and the heart. Starting at puberty, it shrinks slowly. It has no lymphatic vessels draining into it and does not filter lymph; instead, stem cells in its outer cortex develop into . Norwood Immunology is a wholly owned company within the Norwood Abbey group of companies. It has been created to maximize the commercial potential of the immunology research. Norwood recently announced the appointment of Richard Williams as its CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Richard Williams was the former Head of Global Healthcare for Andersen and is based in London. To find out more about the company, visit www.norwoodabbey.com. Norwood Abbey Ltd. is a drug delivery and immunology company with three proprietary delivery platforms in various stages of commercialization and development. Its delivery technologies include laser-assisted delivery, micro-needle arrays, needle-less injection system and pressure wave technology for the transfer of both drugs and genetic material. In addition, the Company holds patent applications for the use of GnRH analogue drugs in the re-growth of the Thymus gland thymus gland (thī`məs), mass of glandular tissue located in the neck or chest of most vertebrate animals. In humans, the thymus is a soft, flattened, pinkish-gray organ located in the upper chest under the breastbone. and production of new T-cells. GnRH drugs are already approved for the treatment of prostate and breast cancer and have been available on the market for many years. |
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