LITTLE ROCK, AR, Feb. 12, 2014 /CNW/ - (TSX-V:VBI) - Vivione Biosciences Inc. ("Vivione") is pleased to announce the signing of a Memorandum of Understanding
("MOU") with South Korean biotech company, AriBio, Inc. ("AriBio"). This strategic alliance is anticipated to combine the strengths of
Vivione in the areas of rapid diagnostics and its new in silico
compound modeling technology ("Molecular Design") with AriBio's substantial experience in drug design and testing. The
alliance also initiates collaborative development efforts on Vivione's
retail food freshness indicator currently branded as FQI ('Food Quality
"We see this as a win-win for both companies," said Vivione's Chief
Executive Officer, Kevin Kuykendall. "AriBio can assist Vivione with
accessing the lucrative Asian market and Vivione can help AriBio with
companion diagnostics and in silico compound design."
Building on the Cooperative Research and Development Agreement that was
signed with the FDA last year, this partnership marks another milestone
for Vivione as being its first prospective alliance with a drug
development company. The alliance could benefit AriBio by accelerating
the drug development process via specific Vivione intellectual
property, Molecular Design, which has the potential to enable accurate
computer modeling of the efficacy and potential toxicities of
compounds. Vivione expects the alliance will expand their food safety
footprint beyond the frontline product, the RAPID-B diagnostic
platform, and into companion clinical diagnostics with the potential
for growth opportunities in the Asian market.
"We are excited to execute an MOU with Vivione, as they have a number of
potentially game changing technologies. This strategic alliance also
recognizes AriBio's capabilities in efficient drug development in
various disease areas including psychosis and infection," according to
AriBio Chief Executive Officer Soo-Hyun Sung. "We see our divergent
areas of expertise as a strong point in this collaborative effort and
we are confident that this will enhance our ability to fulfill current
and future technical and business objectives."
The MOU will also position AriBio as an end user of other various
Vivione technologies and as a distributor within Asia. AriBio will
garner early visibility and access to Vivione's RAPID-B diagnostic
platform, Molecular Design and Food Quality Indicator product lines,
while offering AriBio a first-mover competitive advantage in the rapid
One of the most exciting collaborations under the MOU is for Vivione and
AriBio to jointly investigate new uses of Vivione's Molecular Design,
the company's chemical engineering software solution platform, to
ensure applications are compliant with local regulatory requirements
while adopting global industry best practice. Kevin Kuykendall,
Vivione's CEO stated, "the coupling of Vivione's new in silico product
(Molecular Design) and AriBio's drug development experience allows both
companies to work on a revolutionary system that may save drug
development companies millions during the drug development phase. An
additional benefit of Molecular Design will be the potential to
expedite approvals through regulatory bodies because of Molecular
Design's potential ability to predict subtle nuances in new drug
compounds and allowing the drug company to design around these
potential side effects".
Vivione is a TSX Venture Exchange listed biosciences company focused on
the commercialization of its proprietary RAPID-B diagnostic platform;
an integrated system of hardware, software and chemical reagents that
quickly and accurately identify, quantify and qualify bacteria and
other pathogens in key food & water safety, clinical, industrial and
oil & gas environments. For more information, visit www.VivioneBiosciences.com.
AriBio is a South Korean biotech company focused in drug development for
various diseases with unmet medical needs and its business areas also
are involved in stem cell for regenerative medicine, cosmetics,
functional dietary supplements and natural mineral water. For more
information, visit www.Aribio.com.
This news release contains "forward-looking statements" within the
meaning of applicable securities laws. Although Vivione believes that
the expectations reflected in its forward-looking statements are
reasonable, such statements have been based on factors and assumptions
concerning future events that may prove to be inaccurate. These factors
and assumptions are based upon currently available information to
Vivione. Such statements are subject to known and unknown risks,
uncertainties and other factors that could influence actual results or
events and cause actual results or events to differ materially from
those stated, anticipated or implied in the forward-looking statements.
In particular, this press release contains forward-looking information
relating to the commercialization and anticipated effectiveness of
RAPID-B, Food Quality Indicator, and Molecular Design and the
anticipated benefits of Vivione's relationship with AriBio. Readers are
cautioned to not place undue reliance on forward-looking statements.
The statements in this press release are made as of the date of this
release and, except as required by applicable law, Vivione does not
undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise. Vivione undertakes no
obligation to comment on analyses, expectations or statements made by
third-parties in respect of Vivione, or its financial or operating
results or (as applicable), their securities.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Vivione Biosciences Inc.
For further information:
Ted Moskal, President