Officers of Cytocare, Inc. and the San Diego Regional Cancer CenterWednesday signed a "memorandum of understanding" to launch anew, as yet unnamed, biotechnology company. Their proposed spin-offentity's mission will be to develop and commercialize products andprocesses for treating prostate cancer, notably Cytocare's patent-pending murine antibodies and epitopes.The new firm can come into existence only after formation of a boardof directors and a scientific advisory panel _ at a date uncertain.Cytocare's equity in the venture would consist of proprietarytechnology, plus cash and lab equipment, the company said. TheCancer Center will contribute rights to scientific and medical researchin urologic cancers, in exchange for research funding and endowmentassistance.Molecular immunologist Ivor Royster, a Cancer Center founder, willserve as the future firm's chairman and chief executive officer.Pending its creation, a company spokesman told BioWorld, "allresearch is in limbo, especially clinical trials." The unique marriage ofa for-profit spin-off and a non-profit undertaking, he said, "wouldallow Cytocare, a medical device company, to stick to its corebusiness."_ David N. Leff
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