SAN DIEGO--(BUSINESS WIRE)--Mentor Capital, Inc. (OTC Markets: MNTR) announced that it has entered into a Letter of Intent to receive a current 30% ownership in AGI Biopharmaceuticals, Ltd., a European firm developing novel immuno-therapeutic cancer treatments. Mentor Capital is to provide $4.71 Million in future development funding for proprietary AGI designer products including the ongoing melanoma vaccine project.
AGI reports their lead therapeutic cancer vaccine employs two gene-modified human melanoma cell lines that showed excellent safety and preliminary efficacy in 492 patients with late stage melanoma. Since the early Poznan University formulation in 1991, nine various European trials have been conducted relative to the melanoma vaccine. The data support a benefit in terms of overall survival compared to historical controls and literature reports. The European patent with current claims was recently granted and additional patent applications covering biological materials, components and use claims were filed in 2008 and 2009.
Currently, approximately 140 AGI patients with advanced disease receive monthly treatments that are to be funded through the contemplated Mentor Capital contract which is indirectly supported by new and already participating Mentor shareholders.
A sample of a pro forma Direct Cancer Equity Contract, similar to the contract subject to the Letter of Intent with AGI, along with additional relevant information, is presented at www.MentorCapital.com. Mentor Capital, Inc. targets its acquisitions and investments exclusively toward leading-edge cancer companies.
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