MIAMI, FLORIDA--(Marketwire - 01/07/10) - SK3 Group, Inc. (PINK SHEETS:SKTO - News) today announces that its new parent company, Healthcare of Today, Inc., has acquired MacuCLEAR, Inc., a pharmaceutical company focused on discovering and developing novel solutions for vascular disorders of the eye. SK3 has entered into a merger agreement with Healthcare of Today, Inc. under which both companies will merger into a new Nevada corporation, Healthcare of Today, Inc., formed for that purpose.
MC-1101, MacuCLEAR's primary product compound, is a patented, topically delivered drug for treating and stopping the progression of dry Age-related Macular Degeneration (AMD). MacuCLEAR (www.macuclear.com) has an active IND for MC-1101 and has completed a successful Phase Ib human clinical trial. The company's groundbreaking work leverages its unique understanding of ocular pharmacology and drug development to advance a pipeline of proprietary pharmaceuticals. MacuCLEAR's accomplished management team includes CTO George C. Y. Chiou, Ph. D., professor and director of the Institute of Ocular Pharmacology and professor of neuroscience and experimental therapeutics at Texas A&M University System Health Science Center. Dr. Chiou previously led the discovery of Timolol, a pioneering treatment for glaucoma.
The company's work on AMD comes at a crucial time in senior eye care. As the population ages and baby boomers advance into their 50s and 60s, the numbers suggest there will be a virtual epidemic of AMD. Age-related Macular Degeneration (AMD) is the most common cause of vision loss in people 50 and older. There are two forms of AMD: wet and dry. Currently, more than 15 million patients in the U.S. suffer from the signs and symptoms of AMD, while an estimated 25 to 30 million patients are afflicted worldwide. However, there is no approved drug treatment yet available to patients with dry AMD, and only limited treatments are available for patients with wet AMD. An astounding 90 percent of AMD patients cannot be treated with the methods currently available.
CEO of Healthcare of Today Henry Jan says, "MacuCLEAR is devoted to finding treatments for the millions of people who suffer from vascular disorders of the eye. This is a huge, under-served market, and they have the solutions. We are very proud to bring MacuCLEAR's groundbreaking work to the Healthcare of Today family, and we look forward to adding this new dimension to how we improve seniors' lives every day."
Healthcare of Today (http://www.healthcareoftoday.com), based in Burbank, California, is a vertically-integrated healthcare holding company. Founded in 2008, it has since acquired a number of companies, many specializing in the senior care industry. Its subsidiaries are engaged in a wide range of businesses including: nurse staffing, residential care facilities for the elderly, home healthcare services, home healthcare equipment sales, healthcare information technology, medical equipment, healthcare consulting, insurance, data security, advanced human tissue engineering, and more.
About SK3 Group, Inc.
SK3 Group also markets preferred medical services through its facilitation partners to its PEO client base. Corporate information can be found at http://www.sk3groupinc.com.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes", "expects", "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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