Park Company Developing Treatment Package For Obesity Virus

Main Category: Obesity / Weight Loss / Fitness
Article Date: 21 Apr 2008 - 4:00 PDT

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Obetech, LLC, a tenant in the Virginia Biosciences Development Center (VBDC) incubation program at the Virginia Biotechnology Research Park, recently announced a joint venture with Scandinavian Clinical Nutrition (SCN), a Swedish organization focused on development of dietary supplements.

Obetech has developed a diagnostic test for those who have been infected with a particular common cold virus, human Adenovirus 36 (Ad-36). Quickly gaining recognition as "the obesity virus," Ad-36 has been shown to trigger proliferation of fat cells, which ultimately leads to obesity in the infected person.

Currently, Obetech offers a diagnostic test which checks for Ad-36 antibodies in the blood. By confirming an individual has been infected with Ad-36, the test can help them predict future weight problems and/or explain unexpected weight gain.

In late 2004, Obetech became a tenant of the BioTech Park after being accepted into the VBDC incubation program. "Obetech is the latest in a series of VBDC client companies who have successfully leveraged our VBDC incubation program to secure equity funding or a key strategic partnership," stated David Lohr, executive director of VBDC.

According to Dr. Richard Atkinson, president & CEO of Obetech, this program was crucial to the success of his company.

"Among other things, the VBDC organized a multispecialty business advisors group and introduced me to patent lawyers Richard Meyer and Andrea Tiglio of Townsend and Townsend and Crew, LLP and general counsel Carter Scott of Hirschler Fleisher, each of whom made critical contributions during our successful negotiations with SCN," stated Atkinson.

SCN, a publicly traded Swedish company that is well known in the nutraceuticals market, has developed anti-viral technologies that can be used as the therapeutic to Obetech's diagnostic.

"This joint venture will combine the diagnostic technologies of Obetech and the antiviral technologies of SCN to offer a comprehensive diagnostic and therapeutic package to consumers seeking solutions for virus induced obesity," noted Lohr.

Obetech's partnership with SCN will result in the formation of a new Swedish company, Scandivir, which will be co-owned by both organizations. Through this partnership, SCN will contract Obetech to further develop advanced diagnostics and therapeutic solutions, which will be licensed to the newly formed company for promotion and distribution.

Virginia Biosciences Development Center