GRAND RAPIDS, Mich., Oct. 25 /PRNewswire-FirstCall/ -- BestNet
Communications Corp. (OTC Bulletin Board: BESC) announced today that
Oncologix Corporation, its wholly owned subsidiary, has entered into an
agreement with the Institut fur Umwelttechnologien GmbH (IUT) of Berlin
Germany whereunder IUT will provide development and testing services in
connection with the accomplishment of the Development Feasibility Phase of
the Oncosphere program. The purpose of this phase is to demonstrate the
commercial feasibility of the manufacture of the Oncosphere. The Oncosphere
is the Company's radioactive microsphere product for the treatment of liver
cancer. This phase is the first of several development stages which, if
successful, will result in FDA approval of the Oncosphere for patient
treatment.
Andrew Green, Chairman and CEO of Oncologix, stated, "I am confident
that the demonstrated expertise of IUT combined with the knowledge of
medical device development within Oncologix will result in a successful
collaboration. This agreement will position Oncologix to complete the
initial development phase and prepare for the future production of testing
and clinical doses."
While this contract is only for the Development Phase for the next nine
months, discussions with IUT have resulted in an expectation that this may
be the beginning of a long term collaborative effort between the two
companies in the development and testing of the Oncosphere product. IUT
will provide facilities, radiation handling licenses, and personnel with
experience in chemistry (inorganic, organic, and radioisotope), and proven
expertise in radiation protection, dosimetry, and radio-labeling of organic
compounds. Activities at IUT have already begun and include successful
low-activity (radiation) labeling of microspheres. If successful in the
Development phase, further collaborations would be possible for the future
phases.
IUT, which was founded in 1992 under the direction of Professor Dr.
Jurgen Leonhardt, has established its expertise in radiation labeling of
compounds for biotechnologies, analytical analysis of radioactive
compounds, organic and inorganic chemistry, radiation and chemical
recycling, and homeland security technologies (transportation, building,
and military applications worldwide). IUT contracts with government and
industry partners worldwide to develop new technologies based on chemical
and radioactive components.
Mr. Green added that "as a further example of the global nature of our
business plans, Dr. Andrew S. Kennedy, our Chief Science and Medical
Officer, is meeting with leading physicians in China with Fountain
Pharmaceuticals, our licensee for Oncosphere development and sales in
China, Hong Kong and Taiwan. These meetings are expected to introduce the
success of microsphere brachytherapy to Chinese opinion leaders and assist
Fountain's clinical introduction of the Oncosphere product in China and its
development activities."
In his own statement, Dr. Kennedy said, "It is a privilege to share my
experiences with microspheres and liver cancer treatments with my
colleagues in China. Given the large incidence of primary and secondary
liver cancer in China, I believe that radiation microsphere therapy, in
particular the Oncosphere product, will provide significant improvements in
care for patients and an attractive market opportunity for Fountain
Pharmaceuticals and Oncologix."
About Best Net Communications Corp. and Oncologix Corp.:
BestNet Communications is a global solutions provider of long distance;
conference calling, ClicktoPhone and custom application-based communication
services. BestNet's services are accessed worldwide via the Internet,
standard phones and wireless devices and are delivered using standard phone
lines and equipment. This results in a cost effective high quality service
for both businesses and consumers.
Under the brand name Bestnetcall(TM) (http://WWW.BESTNETCALL.COM) the
services offer subscribers premium quality calls and conference calling, at
significantly lower rates. Calls and conference calls can also be launched
via a desktop application or handheld devices including Palm(TM), Pocket
PC(R) and Blackberry(TM) and used with any standard or wireless phone. In
addition the company's new ClicktoPhone(TM) service
(http://WWW.CLICKTOPHONE.COM) enables clients to add secure and anonymous
voice communication connectivity anywhere in the world to web sites, web
banners, pictures, electronic documents, and customized e-mail calling
buttons.
Contact BestNet at: investors@bestnetcom.com
Oncologix Corporation, based in Atlanta GA, is a wholly owned
subsidiary of BestNet Communications. Oncologix, which is in the start-up
phase, develops advanced medical treatments for soft tissue cancers.
This release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the "safe harbor" created thereby. These
statements include the plans and objectives of management for future
operations, including plans and objectives. The forward-looking statements
herein are based on current expectations that involve judgments with
respect to, among other things, future economic, competitive and market
conditions and future business decisions, all of which are difficult or
impossible to predict accurately and many of which are beyond control of
the company. Although the company believes that the assumptions underlying
the forward-looking statements are reasonable, any one of the assumptions
could be inaccurate and, therefore, can be no assurance that the
forward-looking statements included in this release will prove to be
accurate.
SOURCE BestNet Communications Corp.
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CONTACT: BestNet Communications Corporation, +1-616-977-9933, investors@bestnetcom.com
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