Across America Acquisition Draws Investors
Across America Financial Services [[AAFS.OB]] shares have surged more than 2,000 percent, from $0.50 to $10.50 per share, since it acquired Apro Bio Pharmaceutical Corporation in late March. The new subsidiary, now called Omni Bio Operating, was formed to acquire, license and develop existing novel therapies which have substantial commercialization potential.
Omni Bio Operating has secured three licensing agreements with the University of Colorado Denver, which include various patent applications related to the composition of matter and method of use for treating bacterial infections, an issued patent for treatment of various forms of viral infections, and a patent application related to diabetes and organ graft rejection.
Across America’s CEO, Dr. Charles Dinarello, was recently awarded the Albany Medical Prize in Medicine and Biomedical Research along with two other recipients. The $500,000 prize is the largest in medicine and science in the United States, surpassed only worldwide by the $1.4 million Nobel Prize in Medicine, which demonstrates its difficulty to win.
Dr. Dinarello is also an integral part of Across America given his relationship with the University of Colorado Denver, where the company has obtained its licensing agreements. The CEO also serves as professor of medicine at the university with a focus on blocking cytokines and quelling inflammation, which has resulted in therapies for rare immune disorders.
Currently, Across America has not reporting any substantial revenues and continues to operate at a loss, which makes it a risky investment by any measure. However, many investors appear confident that the company will be able to realize substantial revenues through its relationship with Dr. Dinarello as well as the University of Colorado Denver.
CONTACT: Daniel Minton, Managing Director, 406-862-5400, daniel@accelerize.com