OncBioMune Pharmaceuticals (OTCQB:OBMP) announced an agreement with EOC Pharma, a U.S. subsidiary of the Chinese pharmaceutical Eddingpharm.
OncBioMune Pharmaceuticals (OTCQB:OBMP) announced an agreement with EOC Pharma, a U.S. subsidiary of the Chinese pharmaceutical Eddingpharm, in order to bring products into 34 countries in Latin America.
As quoted in the press release:
The Term Sheet sets forth guidelines for a 50/50 Joint Venture Agreement (“JVA”) for the purpose of development and commercialization of EOC Pharma products in 34 countries across México, Central and Latin America (“MALA”). More specifically, the Term Sheet identifies the clinical development of the potent oral VEGFR2/3 inhibitor Telatinib for the treatment of gastric cancer.
In January 2014, Eddingpharm acquired worldwide rights to Telatinib from ACT Biotech, Inc.
The Term Sheet originated through discussions between Vitel Laboratorios S.A. de C.V. (“Vitel”) and EOC Pharma during the process of OncBioMune acquiring Vitel. As disclosed yesterday, OncBioMune completed its acquisition of Vitel on March 10, 2017. EOC Pharma has informed OncBioMune of its interest to move forward towards a definitive agreement for the development of Telatinib in MALA under the OncBioMune brand.
“This Term Sheet is a great example of the partners and licensing opportunities that are now available to us with the acquisition of Vitel,” commented Jonathan Head, Ph. D., Chief Executive Officer at OncBioMune. “Telatinib is a promising experimental drug that has the potential to provide a meaningful benefit to gastric cancer patients in great need across MALA. We are encouraged by the eagerness of EOC to work with us and optimistic that we can have a binding agreement in place in the near term.”
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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, Louisiana.