BATON ROUGE, LA-(March 30, 2017) - OncBioMune Pharmaceuticals, Inc. (OBMP) (“OncBioMune” or the “Company”), a clinical stage biopharmaceutical company engaged in the development of novel cancer products and a proprietary vaccine technology, today announces a non-binding term sheet (“Term Sheet”) between the Company and Gem Pharmaceuticals (“Gem”) providing the general framework for a collaboration between OncBioMune and Gem for the purpose of developing Gem’s proprietary GPX-150 compound in the Mexico, Central and Latin America (“MALA”) markets.
Built upon Gem’s proprietary non-cardiotoxic anthracycline technology, GPX-150 (5-imino-13-deoxydoxorubicin) is being developed by Gem for several hard-to-treat diseases and conditions. Gem has successfully completed a Phase 2 trial in the United States that met safety goals and demonstrated a therapeutic benefit in adult patients with metastatic and nonresectable soft tissue sarcoma (STS). Gem believes GPX-150 may have the potential to be an important component of first-line therapy due to an improved safety and tolerability profile compared to doxorubicin, a standard of care today for STS.
“GPX-150 is a novel anthracycline compound that current research shows can deliver a meaningful therapeutic benefit without causing cardiotoxicity, the biggest issue with doxorubicin, which potentially represents a huge leap forward in cancer care,” commented Jonathan Head, Ph.D., Chief Executive Officer at OncBioMune. “The Gem team has done a fine job so far in advancing GPX-150. We greatly look forward to working with them on what is an excellent opportunity to explore a large market across MALA.”
The execution of an agreement is subject to customary terms and conditions, including a definitive agreement between OncBioMune and Gem. While both parties are moving forward in good faith to complete a definitive agreement, no guarantees are expressed or implied.
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About Gem Pharmaceuticals
Gem Pharmaceuticals is a privately owned, clinical-stage biopharmaceutical company developing proprietary anthracycline derivatives specifically designed to eliminate the critical irreversible cardiotoxicity side effect of this powerful class of chemotherapeutics while maintaining their well-documented anti-cancer efficacy. In so doing, Gem seeks to transform traditional broad-spectrum cytotoxic drugs into modern — and biochemically targeted — anti-cancer agents that hold the potential for higher and/or longer-term dosing and correspondingly improved therapeutic utility. Gem believes that its lead non-cardiotoxic anthracycline compound (GPX-150) has the potential to attain significant market penetration by replacing the existing use of doxorubicin and other anthracyclines; by expanding the oncology uses of anthracyclines; and by broadening anthracycline use beyond cancer. For additional information about Gem, please visit www.gempharmaceuticals.com.
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 two Phase 2 clinical studies in 2017, one in the United States at a major university cancer hospital in the Northeast and the other in Mexico City, Mexico. 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.
Forward-Looking Statements
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.