Avicena to Present at RedChip Small-Cap Conference
Palo Alto, CA, May 24, 2007 — Avicena Group, Inc. (OTCBB:AVGO), a late stage biotechnology company focused on commercializing its proprietary cellular energy modulation technology, announced today that Belinda Tsao-Nivaggioli, Ph.D., CEO of Avicena, will present a corporate overview and update on recent clinical developments at 9:00 AM local time (noon Eastern time) on Wednesday, May 30, 2007 at the RedChip Small-Cap Conference in San Francisco, California. For registration and additional information on this conference or please visit www.redchip.com
To access the live broadcast and the subsequent archived recording of the presentation, please log onto http://www.modavox.com/events/redchip/0507/ssafe/login/login.html. An archived version of this webcast will also be available a few days after the webcast on the Company's website at www.avicenagroup.com under the "Investor Relations" section. The audio recording and presentation will be archived there for 30 days following the live presentation. Please connect to the website several minutes prior to the start of the presentation to ensure adequate time for any necessary software download.
Avicena Group, Inc. (OTCBB:AVGO), is a late stage biotechnology company focused on developing products based on its proprietary understanding of the regulation of cellular energy processes. The company's core technologies, supported by a robust IP portfolio, have broad applications in both pharmaceuticals and dermaceuticals. Avicena's pharmaceutical program centers on rare neurological disorders (orphan diseases). The company is currently analyzing data from its Phase IIb/III trial in ALS (Amyotrophic Lateral Sclerosis, or Lou Gehrig's disease). Near term, Avicena intends to initiate a Phase III trial in Huntington's disease to accompany its on-going Phase III trial in Parkinson's disease. Avicena's science is well established and its products are safe and well tolerated. Unlike traditional biotechnology companies, Avicena's clinical programs are largely funded by government and non-profit organizations. Avicena presently derives revenue from the sale of proprietary ingredients to skin care manufacturers.
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management's current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See "Risk Factors" under "Item 6. Management's Discussion and Analysis of Financial Condition and Results of Operation" from our Annual Report on Form 10-KSB for the year ended December 31, 2006, and other descriptions in the company's public filings with the Securities and Exchange Commission for a discussion of such risks, including the company's need for additional funds, the company's dependence on a limited number of therapeutic compounds, the stage of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
The Ruth Group (on behalf of Avicena Group®)
Stephanie Carrington / Sara Ephraim (investors)
(646) 536-7017 / 7002
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Janine McCargo / Jason Rando (media)
(646) 536-7033 / 7025
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