Five Nines Ltd. Details New Business Direction
Related News: Stem Cell CompaniesRICHFIELD, OH, May 20 /PRNewswire-FirstCall/ - Five Nines Ltd. (the "Company") (PINK SHEETS: FVNN) Carman Parente, President of Five Nines, Ltd. reports that the Company has appointed C. Bernard Cardwell as the Company's new Chairman of the Board. Mr. Cardwell, is the President and majority shareholder of OBGYN Cell Secure Inc. ("O-Cell-S"), the corporation with whom Five Nines recently executed an acquisition agreement.
"Following completion of the earlier announced acquisition is our intention to immediately direct our efforts to fulfilling the O-Cell-S business model." said Mr. Cardwell.
He continued, "It is our belief that aggressive participation in this industry, at this time, employing our business model, represents an enormous opportunity. We readily acknowledge the politically charged nature of this exciting business venture, however, we believe we represent a material alternative to current methods and methodologies. Our techniques and procedures embody certain unique processes which significantly differentiate us from much of the science currently under much debate."
"There is a common misconception that term 'stem cells' automatically refers to cells coming from an embryonic source." remarked Cardwell. "Cord matrix stem cells, as opposed to embryonic stem cells, can be obtained in a non-invasive manner from a plentiful source of tissue that is typically discarded."
One of the fundamental properties of a stem cell is that it does not have any tissue-specific structures that allow it to perform specialized functions. Unlike a heart muscle cell, a stem cell cannot work with its neighbors to pump blood through the body; nor can it carry molecules of oxygen through the bloodstream like a red blood cell; and it cannot fire electrochemical signals to other cells that allow the body to move or speak (like a nerve cell). However, unspecialized stem cells can give rise to specialized cells, including heart muscle cells, blood cells, or nerve cells. Unlike muscle cells, blood cells, or nerve cells, which do not normally replicate themselves, stem cells may replicate many times. Human umbilical cord matrix cells exhibit the tell-tale characteristics of all stem cells, the capacity to self-renew and to differentiate into multiple cell types.
O-Cell-S specializes in the collection, processing and banking of pluripotent Wharton's Jelly Matrix stem cells.; cells that are extracted from the cushioning material or matrix of the umbilical cord. This special substance, known as Wharton's jelly, is a gelatinous connective tissue found only in the umbilical cord. It was first discovered in the mid 1600s by Dr. Thomas Wharton who learned that the jelly gives the cord resiliency and flexibility, and protects the blood vessels in the umbilical cord from compression. These cells are a rich and readily available source of primitive stem cells.
According to researchers at Kansas State University, notably Messrs. Weiss and Troyer, "Umbilical cord matrix cells could provide the scientific and medical research community with a non-controversial and easily attainable source of stem cells for developing treatments for Parkinson's disease, stroke, spinal cord injuries, cancers and other conditions."
O-Cell-S has negotiated an exclusive license from the Kansas State University Research Foundation ("KSURF") to employ techniques falling within KSURF's intellectual property rights for the collection and storage of the pluripotent Wharton's Jelly Matrix stem cells. Under the Company's business model, O-Cell-S will license and train other cord blood banking companies in the proper collection procedure and banking of the pluripotent Wharton's Jelly Matrix stem cells, employing the Company's proprietary software and methodology.
Cautionary Statement: This news release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Five Nines Ltd. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included herein, the inclusion should not be regarded as a representation by Five Nines Ltd. or any other person that the objection and plans of Five Nines Ltd. will be achieved.
Posted on May 27, 2005 09:10 AM