PROT & AMRI Making Cures Scientifically by Stock-pr.com

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Proteonomix, Inc. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, reported today that Mr. Michael Cohen, Chairman and CEO, is scheduling a multi-city European road trip to create additional awareness of the Proteonomix, Inc. investment opportunity to institutional investors. Scheduled for early October, Mr. Cohen will discuss with sophisticated investors the recent contract to establish a joint venture with a group of investors that will establish a new stem cell treatment and research facility in the United Arab Emirates (U.A.E.). In addition, Mr. Cohen will discuss the opportunity to set up additional joint ventures in other countries using the U.A.E. arrangement as a model.

“Proteonomix has made great strides recently,” stated Mr. Cohen, “and we have been contacted by several European entities that have requested additional information about our proprietary stem cell activities. In recognition of the interest in Europe and the potential for additional joint venture agreements in various European countries, we recognize that it is propitious to meet with a number of the European institutional investors both to educate them on the intrinsic value of Proteonomix shares and garner interest in strategic relationships.”

Proteonomix also reported that it has executed a joint venture agreement with a group of investors that will create a new stem cell treatment and research facility in the United Arab Emirates (U.A.E.). The Investor Group has committed to invest $5 million on or before September 10, 2010. The Joint Venture company, XGen Medical LLC (”XGen”), a Nevis Island limited liability company, will be owned 51% by Proteonomix and 49% by the Investor Group. Due to confidentiality and competitive reasons, the Investor Group has requested to remain anonymous for the present. The Investor Group is not related directly and/or indirectly to Proteonomix, its management, its board of directors and/or its current shareholders. The Investor Group assumes a variety of operational duties under the agreement, including some regulatory responsibility in the U.A.E., physician recruitment and cooperative management of the local entity. The Investor Group $5 million cash investment includes the purchase of $1 million of cellular material from Proteonomix.

Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products. StromaCel, Inc.’s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use. National Stem Cell, Inc. is Proteonomix’s operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. (”PRTMI”) intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies.

Albany Molecular Research Inc. (NASDAQ: AMRI) last week disclosed that it has been selected as the inaugural winner of the Pfizer Route Design Innovation Award, beating out 40 companies who were invited to share innovative ideas for process chemistry and large scale Active Pharmaceutical Ingredient (API) production. Pfizer will present AMRI with the award at the AMRI 2010 Integrated Drug Discovery Symposium to be held in Albany NY, October 13-14. AMRI will also receive an honorarium for its win.

The innovation challenge was initiated by Pfizer Worldwide Research and Development in late 2009 to identify organizations to discover new and improved routes of synthesis for the manufacture of chemical intermediates and APIs. Companies with experience in process chemistry and large scale API production were invited to contribute approaches that improved the cost effectiveness of a specific compound of interest to Pfizer. Via this open innovation initiative, Pfizer harnessed the expertise of a select group of specialists who share Pfizer’s goal of developing partnerships to solve difficult and complex scientific challenges. After reviewing the expert proposals from companies who participated in the challenge, the Pfizer scientific review panel (from the API Technical Operations group in Pfizer Global Manufacturing) granted AMRI top honors in the contest.

“This award stands as testament to the technical expertise and entrepreneurial spirit of our scientific team, and our ability to generate intellectual property as a value-added service to our customers,” said AMRI Chairman, President and Chief Executive Officer Thomas E. D’Ambra, Ph.D.

“Pfizer would like to congratulate AMRI on the high quality of their proposed solutions submitted in response to our inaugural award program. We look forward to further collaborating with AMRI to develop this and other programs and consider AMRI a valued partner in the development of innovative research,” said Richard Connell, Ph.D., Vice President and global head of External Research Solutions Center of Emphasis at Pfizer.

Founded in 1991, Albany Molecular Research, Inc. provides scientific services, products and technologies focused on improving the quality of life. AMRI works on drug discovery and development projects and conducts manufacturing of active ingredients and pharmaceutical intermediates for many of the world’s leading healthcare companies. As an additional value added service to its customers, AMRI is also investing in R&D in order to expand its contract services and to identify novel early stage drug candidates with the goal to outlicense to a strategic partner. With locations in the United States, Europe, and Asia, AMRI provides customers with a wide range of services, technologies and cost models.

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