PharmaCyte Biotech announces $7 million strategic investment in MYMD
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 21 2024
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Source: SeekingAlpha
- PharmaCyte Biotech Investment: PharmaCyte Biotech made a $7 million investment in MyMD Pharmaceuticals, a company focused on developing therapies for age-related diseases and inflammatory conditions.
- Financial Position: PharmaCyte Biotech has around $65 million in cash as of March 31, 2024, and the investment in MyMD Pharmaceuticals aligns with its strategic approach to utilizing its funds wisely.
- MyMD Pharmaceuticals: MyMD Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to creating innovative treatments for various health conditions.
- Collaboration: The investment by PharmaCyte Biotech signifies a collaboration between the two companies to advance research and development efforts in the pharmaceutical sector.
- Industry Focus: Both companies are actively involved in the biopharmaceutical industry, aiming to address unmet medical needs through their respective projects and initiatives.
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Analyst Views on PMCB
About PMCB
PharmaCyte Biotech, Inc. is a biotechnology company, which is focused on developing cellular therapies for cancer based upon a proprietary cellulose-based live cell encapsulation technology known as Cell-in-a-Box. The Cell-in-a-Box technology is intended to be used as a platform upon which therapies for several types of cancer, including locally advanced, inoperable pancreatic cancer (LAPC) will be developed. The Cell-in-a-Box encapsulation technology potentially enables genetically engineered live human cells to be used as a means to produce various biologically active molecules. The technology is intended to result in the formation of pinhead-sized cellulose-based porous capsules in which genetically modified live human cells can be encapsulated and maintained. In a laboratory setting, this proprietary live cell encapsulation technology has been shown to create a micro-environment in which encapsulated cells survive and flourish.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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