Nuvilex Enters Into Joint Venture Agreement With Legacy Biotechnologies

Nuvilex has entered into a Joint Venture Agreement with Legacy Biotechnologies to develop and market all natural remedies for symptoms of broad spectrum flu viruses.

Reportedly, as part of the agreement, Nuvilex will share in the ongoing revenue stream derived from the sale of the product and Legacy Biotechnologies will obtain worldwide rights to certain Nuvilex intellectual property.

In addition, Legacy Biotechnologies will be working with one of the proprietary compounds previously developed by Knock-Out Technologies, a wholly-owned subsidiary of Nuvilex.

However, Legacy Biotechnologies will be conducting and funding specific clinical research to determine the general anti-viral capacity of the proprietary Knock-Out compound.

The joint venture is to allow Legacy Biotechnologies and Nuvilex to commercialise a full line of nutraceutical supplements with clinically validated anti-viral action.

Martin Schmieg, chairman and CEO of Nuvilex, said: “We are very excited to be joining with Legacy Biotechnology in this joint venture. Although they work on differing modes of action, the natural remedies from Legacy Biotechnologies and the proprietary formula from Knock-Out Technologies complement each other synergistically. This joint venture allows both companies the chance to complete a comprehensive product line of all natural anti-viral treatments for broad-spectrum flu-type symptoms in a more thorough and expeditious manner.”