OncBioMune Pharmaceuticals (OTCQB:OBMP) signed a licensing agreement which will give it rights to tretinoin, an oral drug treatment for acute promyelocytic leukemia in Central and Latin America.
As quoted in the press release:
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.”