|By Marketwired .||
|April 20, 2017 09:31 AM EDT|
BATON ROUGE, LA--(Marketwired - April 20, 2017) - OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) ("OncBioMune" or the "Company"), a clinical stage biopharmaceutical company engaged in the development of novel cancer products and a proprietary vaccine technology, is pleased to announce the signing of a licensing agreement between the Company and PROCAPS S.A.S. granting OncBioMune rights to tretinoin, also known as all-trans retinoic acid (ATRA), an oral drug for the treatment of Acute Promyelocytic Leukemia (APL), throughout Mexico, Central America and Latin America.
APL is an aggressive type of acute myeloid leukemia in which there are too many immature blood-forming cells in the blood and bone marrow, which leads to a shortage of healthy white and red blood cells and platelets. In addition to a patient facing an increased risk to bleeding and forming blood clots, persons with APL often cope with pain in the affected area, exhaustion, loss of appetite and weight loss. While APL can be diagnosed at any age, it is most common in middle-aged adults.
Fortunately, APL is one of the most curable types of leukemia in developed countries, with tretinoin commonly prescribed as part of a therapeutic regimen. However, little therapeutic progress has been made in developing countries to deliver a measurable benefit with respect to complete hematological remission and disease-free survival, as is highly possible with tretinoin in the treatment protocol. To that end, there is no approved product in Mexico for the treatment of APL, providing a unique and significant opportunity for OncBioMune to emerge as a market leader in the category.
"This is truly a watershed moment for us and the culmination of negotiations with PROCAPS to not only grant us the rights to tretinoin in Mexico, but throughout Central and Latin America where APL remains problematic. To have a partner the caliber of a contract manufacturing organization like PROCAPS with their state of the art production facility in Colombia is invaluable to our expansion efforts," commented Andrew Kucharchuk, President of OncBioMune. "We are moving immediately forward with formulation and stability studies and anticipate seeking marketing approval late this year for commercialization early in 2018. Given the established safety profile, efficacy data and area of unmet medical need, we believe that tretinoin will immediately garner the attention of oncologists and address a high-margin market opportunity into the millions of dollars annually."
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About OncBioMune Pharmaceuticals, Inc.
OncBioMune Pharmaceuticals is a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a proprietary Vaccine Technology that is designed to stimulate the immune system to attack its own cancer while not hurting the patient. Our lead product, ProscaVax™ is scheduled to commence a Phase 2 clinical study in 2016. OncBioMune also has a portfolio of targeted therapies, some of which are biosimilars to blockbuster drugs. OncBioMune is headquartered in Baton Rouge, LA.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause OncBioMune Pharmaceuticals' actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. OncBioMune Pharmaceuticals has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are OncBioMune Pharmaceuticals' need for, and the availability of, substantial capital in the future to fund its operations and research and development; the fact that OncBioMune Pharmaceutical's vaccines and therapeutics may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in OncBioMune Pharmaceutical's filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. OncBioMune Pharmaceuticals undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
OncBioMune Pharmaceuticals, Inc.
President and Chief Financial Officer
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