Q1 2014 Shareholder Update Letter
May 13 2014 - 11:13AM
VG Life Sciences Inc. releases a Q1 2014 Shareholder Update Letter:
May 13, 2014 Dear Shareholders, Here at VG Life Sciences, our goal
is to move our revolutionary drug from the research laboratory, to
pre-clinical studies, to clinical trials and to market
expeditiously. The path is clear and we are working ever harder to
increase your shareholder value. This is a company update since the
beginning of the year.
Financial
For the past four months we have been working with our
independent auditors, our accounting firm and our law firm to
complete our audit. The company has not had the funds with
competing budget demands and available capital to have an audit
completed since 2006. The audit through December 31, 2013 is now
complete and will be filed with the SEC with our Form 10 filing.
The audit gives the company transparency to the financial community
and to you our shareholders and it allows us to initiate the
necessary steps file Form 10 with the SEC to relist the company
from the Pink Sheets to an OTC market composed of audited public
companies. This should help facilitate trading of our stock.
You will notice on our financials an Accumulated Deficit of
$99,779,313. This is not unusual for a biotech company coming out
of its research phase. As the company moves to market and revenues,
this carry forward will be used against those revenues to lessen
our tax obligations as permitted by the IRS. In the last year since
our management involvement in the company we have increased its
market capitalization by almost ten times. Our goal is to
aggressively continue that growth. Pipeline
The centerpiece of our drug platform is our patented peptide
VG1177 (Patent No: US 8,557,764). The VG1177 peptide prevents the
survival of pro-inflammatory cells under conditions where
inflammation is unwanted, thereby allowing the body's natural
containment systems to provide protection from harm. We have
completed a pre-investigational new drug (IND # 110820) meeting
with the FDA and started preclinical work in November 2013 with our
animal safety and toxicity study, a requirement before human
clinical testing can commence. This work is being completed by ITR
Laboratories in Montreal, Canada. At the advice of our biotech
expert Chrysalis Pharma Partners, LLC, we have expanded the scope
of the study to include a pharmacodynamics (PD) model and thus
completion is now anticipated for October (versus July) of this
year. At the same time we are continuing research at our laboratory
at Texas A & M under the direction of VG Life Sciences' Lead
Scientist, Dr. M. Karen Newell Rogers, PhD. Collaborating with
research scientists from institutions around the country Dr. Newell
is actively researching applications of VG1177 in the following
diseases:
- HIV/AIDS
- Hypertension
- Brain Trauma
- Glioblastoma
- Preeclampsia
- Diabetes
- Lyme Diseases
- Crohn's/Ulcerative Colitis
- Rheumatoid Arthritis
- Autoimmune Myocarditis
- Heart Failure
- Multiple Sclerosis
- Lymphedema
- Alzheimer's
Equally exciting is Dr. Newell's metabolic disruption technology
(MDT) which offers an innovative approach for oncology. This is
covered under our US patent application number 12/918741 and other
US and international patent applications. Cancer tumors have a
"greed" for glucose, and the selective use of amino acids, and/or
fatty acids as sources of energy. MDT disrupts the pathways
involved in the cancer cell's ability to meet those survival
requirements. Therefore, the cancer cells become more vulnerable to
other cancer treatments. MDT is currently in a Phase I Clinical
Trial at the University of Texas. As previously reported, the trial
is in the fourth and final cohort which is testing the maximum
dosing. This study centers around the effect of MDT compound
hydroxychloroquine (HCQ), combined with an existing cancer drug,
sorafenib (marketed by Bayer as Nexavar™). While a Phase I's
purpose is to test for human toxicity, there have been encouraging
signs of efficacy as previously reported. VG Life Sciences is in
discussion with the University of Texas regarding the feasibility
of expanding the study into a Phase II. This could start later this
year. This would involve using combination therapy dosing over a 1
year period to test for efficacy. Intellectual Property
(IP)
Finally, our primary asset is our intellectual property and we
must sacredly guard this impressive portfolio. To do that the
company has a long relationship with one of the country's best IP
attorneys in Wolf, Greenfield & Sacks, P.C. in Boston They
advise us on over 40 US and international patents and patent
applications. Over the past 9 months we have careful scrubbed all
our intellectual property with our attorneys to make sure our
applications, fees and filings are current and prioritized. Thus I
can report that our IP is in order. I would like to thank all our
colleagues here at VG Life Sciences, our researchers and
institutions across the country, our experts in law, securities, IP
and accounting and you - our investors. As we continue to move
through 2014, we will keep you informed of our progress. Be
well, John P. Tynan President & CEO VG
Life Sciences, Inc.
CONTACT: Allison Trabucco, Corporate Communications
VG Life Sciences, Inc.
Phone: (805) 879-9000
Email: atrabucco@vglifesciences.com
VG Life Sciences (PK) (USOTC:VGLS)
Historical Stock Chart
From Jul 2024 to Aug 2024
VG Life Sciences (PK) (USOTC:VGLS)
Historical Stock Chart
From Aug 2023 to Aug 2024