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Published in Stocks and Investing on Monday, May 11th 2009 at 13:50 GMT, Last Modified on 2009-05-11 13:51:06 by Market Wire
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - 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.
