Global Health Ventures Signs Agreement With Vida Pharma for Manufacturing of Sexual Enhancement Drug
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VANCOUVER, BRITISH COLUMBIA, May 11 (MARKET WIRE) --
Global Health Ventures Inc. (OTCBB: GHLV) announced today that it has
signed an agreement with Vida Pharma of Montreal, Canada, a contract
manufacturer of cGMP pharmaceutical drugs and nutritional supplements.
Under the agreement, Vida will develop a manufacturing process and supply
clinical grade cGMP material to enable Global Health Ventures' (the
"Company") prospective drug in human clinical trials. Global Health
Ventures is developing a new sexual enhancement drug for men. Vida Pharma
is a suitable partner for the Company's drug manufacturing as they have
considerable experience in manufacturing of human therapeutics.
Global Health Ventures plans to carry out a number of well-controlled
clinical trials of its drug formulation, GHL-901, in humans. Global,
which currently has its own small-scale drug development and
manufacturing laboratory facility, required the expertise and cGMP
facilities to manufacture its products for human use. With identification
of Vida Pharma as a manufacturing partner, the Company is now poised to
accelerate the development of GHL-901 and bring the product closer to the
stage of commercialization.
About GHL-901
GHL-901 is a new formulation of an existing sexual enhancement drug
marketed throughout the world. The current formulation of the drug
carries a number of side effects, and has a slow mode of action. Global
Health Ventures has developed a new proprietary formulation which appears
to have less side effects and an extremely fast mode of action. The
sexual enhancement market is over $5 billion annually, and growing
tremendously every year. There is currently an open market for a new drug
with fewer side effects, and a quicker mode of action. Our product,
GHL-901, we believe to have both properties of fast acting and less side
effects. With the current agreement, we are poised to manufacture our
product rapidly and carry out the necessary testing prior to entering
into commercialization.
About Global Health Ventures
Global Health Ventures Inc. is a 'Healthcare Technology Merchant Bank',
and is in the business of acquiring and licensing outstanding healthcare
technologies for further development, and re-licensing to major
pharmaceutical companies. While venture capital and private equity firms
tend to be investment-oriented, the Company licenses or buys the
promising technology from biotech companies with insufficient resources,
or lack of appropriate management for further development. GHV develops
the technologies to mid-stage Phase III clinical trials and then sells or
out-licenses to major pharmaceutical, biotechnology or speciality Pharma
worldwide for upfront fees, milestones, and royalties.
Safe Harbour Statement
This press release includes forward-looking statements that involve a
number of risks and uncertainties, including the success of the products
in clinical development, marketing and commercializing. Other risks
involve the ability of the Company to raise sufficient funds for the
development of its products. Investors should also review the risk
factors listed in the Company's filings with the Securities and Exchange
Commission.
Contacts:
Global Health Ventures Inc.
Fred Salari
Director, Investor Relations
604-324-4844
604-324-4845 (FAX)
fsalari@ghlvs.com
www.ghlvs.com
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