TORONTO, November 27 /CNW/ - Kyto Biopharma Inc. (OTCBB:KBPH), ("Kyto")
announces it has signed a non binding Letter of Intent to Helios Petroleum
Holding, AG ("Helios") a private company incorporated in Switzerland. The
transaction is subject to Helios raising successfully US$5MM through
Credifinance Securities Limited. Upon closing, Kyto will issue Common Shares
of Kyto to Helios shareholders and will transfer all its Intellectual Property
to its wholly owned Canadian subsidiary, B.Twelve Limited. For disclosure
purposes, Credifinance Capital Corp, the parent of the Agent, is the
controlling shareholder of Kyto and Georges Benarroch, President/CEO of
Credifinance Securities Limited, Credifinance Capital Corp. and Kyto Biopharma
Inc. will be on the board of directors of Helios.
ABOUT HELIOS PETROLEUM HOLDING, AG
Helios is an independent company established in May 2007 as a holding
company for the acquisition, construction and development of oil
mini-refineries on the territories of the Russian Federation and other FSU
countries. At the initial stage the Company's production will be primarily
focused on the gasoline, diesel and furnace fuels in the rural and
agricultural areas of the Russian Federation, starting with the first
mini-refinery in the town of Chaplygin, Lipetsk region (Oblast) with projected
capacity of processing 700,000 tons (approximately five million barrels) of
crude oil per annum.
Helios, under its CEO direction, Dr Alex Agaian, conducts their
operations in Russia through a 100%-owned subsidiary, TEK Ranenburg, LLC,
organized under the laws of Russian Federation.
TEK Ranenburg plans to construct and operate regional mini-refineries
utilizing a unique but proven, crude oil and gas condensate processing
technology. Based on the modular design it provides a great flexibility in
switching between or processing at the same time different grades of crude oil
or gas condensate, and ease in constructing and operating.
The processing modules (mini-plants) have been successfully operated in
regions with various climate conditions of Russia and CIS countries since
1995. The technology is waste less, ecologically clean, inexpensive to operate
and extremely efficient, economically and technologically.
ABOUT KYTO BIOPHARMA INC.
Kyto Biopharma Inc. is a Florida incorporated and a Toronto based
biotechnology company that develops monoclonal antibody therapies for the
treatment of various forms of cancer. The Company intends to develop its
Vitamin B12 receptor based technology and is looking for a suitable partner to
assist with the development and commercialization of a marketable cancer
therapeutic. Vitamin B12 regulates one of two major cellular pathways for the
production of Folates, the cells primary source of carbon and the progenitor
for the synthesis of DNA. The newly isolated vitamin B12 receptor is over
expressed in a host of various forms of cancer cells and serves as a viable
target for development of therapeutic monoclonal antibodies. Kyto holds an
extensive portfolio of intellectual property including IP protection for the
newly discovered TCblR gene and its product.
This release contains forward looking statements that reflect, among
other things, managements current expectations, plans and strategies, all of
which are subject to known and unknown risks, uncertainties and factors that
may cause our actual results to differ materially from those expressed or
implied by these forward-looking statements. Many of these risks are beyond
our ability to control or predict. Please see "Risk Factors" in the Company's
public filings with the Securities and Exchange Commission for a discussion of
such risks, including the Company's need for additional funds, the Company's
dependence on a limited number of therapeutic compounds , the stage of the
products the Company is developing, uncertainties relating to clinical trials
and regulatory reviews, competition and dependence on collaborative partners,
the company's ability to avoid infringement of the patent rights of others,
and the company's ability to obtain adequate patent protection and to enforce
these rights. Because of these risks, uncertainties and assumptions, you
should not place undue reliance on these forward-looking statements.
Furthermore, forward-looking statements speak only as of the date they are
released. Kyto Biopharma does not undertake any obligation to update or review
any such forward-looking information, whether as a result of new information,
future events or otherwise.
For further information:
For further information: Kyto Biopharma Inc. For scientific information:
Dr. Uri Sagman, Director, CRO, (01) 416 436 66 40 or For corporate
information: Georges Benarroch, Director, CEO, (01) 416 955 01 59 (33) 06 07
40 87 06