Paulness, chipped and I used to email each other about this ralationship of bunky and cygx. Hogger probably knows more of the inside story. There are many characters that have been part of the CYGX story. I wish someone would write a book. I think it would be fascinating. Might have to call Mike Skillern again and visit with him about his current project and tales of past projects. Tatonkano
Management Name Title Frank Vazquez DIR Nelson Bunker Hunt BO Michael Walters DIR Malcolm Skolnick PR/CEO/DIR Lawrence Wunderlich CFO/DIR Cy A Stein OFF Yin Chen VP Alan Gewirtz OFF Scott E. Parazynski M.D. DIR
Business Summary CURRENT BUSINESS INFORMATION: Cytogenix, Inc (formerly known as Cryogenic Solutions, Inc), a development stage biotechnology company, focuses on controlled cellular dedifferentiation and transdifferentiation processes. The company has acquired the exclusive rights for applications to a specialized expression vector capable of producing single stranded DNA (ssDNA)in both bacteria, plants, and animals. CytoGenix also would like to combine this procedure into the antisense gene therapy market.
* The ssDNA expression vector technology was developed as the direct result of an exclusive license and sponsored research agreement with Dr. Charles Conrad and InGene, Inc. Dr. Conrad first invented and obtained a patent on the precursor technology of expressing single strands of sequence specific DNA in bacteria as a research laboratory technique, not contemplating any therapeutic use in living organisms. He developed the first version of the vector as a commercial product, but later abandoned the enterprise to complete his medical training. Dr. Conrad is not associated with the Company in any way other than by membership on the Company?s Scientific Advisory Board and through the prior licensing to the Company of certain rights to technology developed by him. * The Company negotiated the license to obtain rights to the technology, revived the patent that had been filed by Dr. Conrad and entered into a sponsored research agreement with Dr. Conrad and InGene, Inc., an entity he had formed to develop the technology. These activities enabled the Company?s expansion and refinement of the technology for possible use in human and animal therapies and agriculture. The technology was proven by Dr. Conrad and his associates in the laboratories in July 1998 and Dr. Conrad?s findings have been confirmed and submitted for publication in the ANTISENSE AND NUCLEIC ACID DRUG DEVELOPMENT JOURNAL on April 4, 2000. * HISTORICAL BUSINESS INFORMATION: The Company was formed in 1995 as a biomedical research and development company. The original name of the Company was Cryogenic Solutions, Inc., until the Company changed its name to CytoGenix, Inc. in January 2000. Equity funding has been the only source of operational and research working capital since the Company's inception. * The Company started aggressively advancing its program to incorporate this critical implementing technology into the antisense gene therapy market and in January 1999, the US Patent Office issued a patent to the company covering claims to this technology. Other patent applications expanding the scope of the technology are under development for additional filing. Also in January 1999, studies by InGene revealed that the introduction of the telomeric repeat using the intracellular ssDNA expression vector proved lethal to malignant cells. * In February 1999, the Company announced that it would make beta test kits of the vector, available at cost, to the investigators and Universities, who had requested permission to use the vector to further their genetic research. * In March, the Company decided to make the beta test kits available to commercial biotech companies. The Company recently announced the completion of its new research and development facility adjacent to its headquarters in Houston and also that it has entered into a Sponsored Research Agreement with Baylor College of Medicine at the Texas Medical Center in Houston to use the company's newest version of their expression vector (EnzSyn(TM)) that involves direct enzymatic synthesis of sequence specific ssDNA in large quantities in the cell. * On January 18, 2000 the Company entered into an agreement with Quantum Bit Induction Technology, Inc. (QBIT) pursuant to which 3,000,000 shares of QBIT common stock and the molecular biology intellectual property developed by QBIT, its employees or its assignees was acquired by the Company in exchange for 3,000,000 shares of the Company's common stock. As of June 30, 2000, the Company owned 6.3% of the outstanding capital stock of QBIT as a result the QBIT Transaction. The Company believed the research and development being pursued by QBIT in commercial applications of quantum mechanics, and specifically the quantum control of biochemical processes, would be applicable to, and complement, the Company's technology and products, which was the purpose of the Company's acquisition of an interest in QBIT. * The Company and QBIT agreed on October 6, 2000 to rescind the QBIT Transaction and QBITs Chief Executive Officer assigned to the Company the QBIT IP in consideration for nominal consideration paid by the Company and the Company's agreement to effect the QBIT Rescission. QBIT has returned to the Company 3,000,000 shares of the Company's common stock and the Company has returned to QBIT 3,000,000 shares of QBIT common stock. * On August 28, 2001, CytoGenix Inc. has initiated a Cooperative Research and Development Agreement (CRADA) with Omnimmune Corporation. Omnimmune Corp. is a private biotechnology company with offices in Houston and Pittsburgh, developing and commercializing breakthrough monoclonal antibodies to facilitate delivery and targeting of gene-based products for the diagnosis, prognosis, management, prevention and treatment of cancer. * On September 10, 2001, CytoGenix Inc. initiated a Cooperative Research and Development Agreement (CRADA) with Endovasc, Ltd Inc. Endovasc, Ltd. Inc. (OTCBB:ENDV) is a biotechnology/biopharmaceutical company whose core drug delivery technology consists of the ability to formulate and produce small drug microspheres called liposomes. Endovasc will utilize its liposome technology to develop a unique liposome that will encapsulate the Company's ssDNA expression system sequences and protect them from destruction by exo- and endo-nucleases found on the skin and in the bloodstream. * In April 2002 the Company announced that it's application for a listing has been approved and trading will commence on April 29, 2002. The shares will begin trading on the third market segment of the Frankfurt Stock Exchange (www.deutsche-boerse.com) under the symbol YTO and the German Cusip number (WKN) 922 173. * In May 2002 the Company announced the introduction of a new Drug Target Validation service geared to reducing drug discovery time and money. Using its proprietary single stranded DNA expression technology, the Company offers results in weeks rather than months. The Company operates under GLP quality standards and guarantees customer satisfaction. * On November 26, 2002, CytoGenix Inc. announced that it had formed a scientific collaboration with Dr. Madeleine Duvic, Professor of Internal Medicine and Dermatology, Division of Internal Medicine and Deputy Chair of Dermatology, The University of Texas M. D. Anderson Cancer Center in Houston, to investigate, test and evaluate a gene believed to be related to melanoma. * MISCELLANEOUS BUSINESS INFORMATION: The Company reported an Accumulated Deficit of ($11,671,981) and Total Shareholder's Equity of $1,839,687 as of March 31, 2002. * The Independent Auditor?s in the Company's 10KSB for the fiscal 2001 contained the following: ?There is substantial doubt that the Company will be able to generate sufficient revenues or be able to raise adequate capital to remain a going concern through December 31, 2002. Based on historical yearly financial requirements, operating capital of approximately $3.2 million will be needed for each of the calendar years 2002 and 2003. The Company is a development stage enterprise, which has suffered recurring losses from operations, has a net working capital deficiency, which raises substantial doubt about its ability to continue as a going concern.?
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