RichardL. Atkinson. In conjunction with the agreement, SCN has initiatedadditional research cooperation with Karolinska Institutet in Stockholm,one of Europe's leading medical universities, and Professor Atkinson. SCNaims for a commercial launch of its first diagnostic tests within six totwelve months.Atkinson says, "The results from a number of research projects indicatethat between 30 and 57 percent of obese people and as much as 18 percent oflean people could be infected by the human adenovirus AD36."
Results from animal testing show that nearly all individuals infected bythe virus had significantly more fat compared with a control group of leananimals, even though their food intake was in fact less.
"The virus transforms ordinary cells into fat producing cells. It is,therefore, of utmost importance that we develop reliable screening tests toidentify people who are infected by the virus, and that we also combinethis with efficient treatment," said Akinson.
Martin Schalling, Professor of Medical Genetics at Karolinska Institutet, says, "On the basis ofthe research results so far, we find it highly likely that the AD36 is animportant factor in the epidemic and global development of obesity, whichis one of the biggest and fastest growing public health concerns of ourtime. We look forward to taking an active role in this critical field ofresearch."
In conjunction with these agreements, SCN has established a subsidiarycalled Scandivir AB. SCN owns 71 percent of the shares in Scandivir AB,while Professor Atkinson, through his company Obetech, owns 25 percent and the remaining 4 percent are held by threesmaller investors. The purpose of Scandivir AB is to develop diagnosticscreening tests for both hospitals and private use. The screening testsshould easily show if a person either carries AD36 or has developedantibodies. Further, the purpose is also to develop different types oftreatment such as diets and preparations.
Ulf Söderberg, CEO of SCN, says, "Given the research conducted by ProfessorAtkinson and Karolinska Institutet, we see enormous potential in the fieldof diagnosis and treatment of virus-induced obesity. Our vision is that everyone is tested for thevirus and that diagnostic tests are standard at hospitals and health carecenters world-wide."
SCN has previously announced a license agreement for the substance NGNA aspotential treatment of AD36. Scandivir AB will continue the development ofthis substance against AD36 and other viruses.
The estimated investment need for SCN to develop diagnostic tests forcommercial launch is limited to no more than US $2 million. Prior to thecommercial launch, SCN will look to contact corporate partners. Anyadditional funding needs will be met through the capitalization ofScandivir AB.
Background material, high-resolution images, a web-cast from today's pressconference and clinical studies are available at www.scnutrition.com/press.
Scandinavian Clinical Nutrition AB (publ) works in R&D and sales ofscientifically documented products within the field of nutrition(nutraceuticals). Established in 2006, SCN maintains a product portfoliowith established trademarks, such as CUUR, Coldizin, Immulina and Ledactin. Corecompetence and strategic alliances within both R&D and sales, incombination with innovative and scientifically documented products, createthe right conditions for profitable growth on the international market. Theshares of SCN are traded under the ticker "SCN" on Oslo Axess(www.osloaxess.no) and NGM Equity (www.ngm.se).
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