BEVERLY HILLS, CA--(Marketwired - Jul 18, 2017) - Rich Pharmaceuticals, Inc. (
"HypGen is commencing work on treatments for Parkinson's disease. Certain of the data Rich Pharmaceuticals has amassed for its treatment protocol for Acute Myelocytic Leukemia (AML) will have significant value for HypGen as it moves forward in the regulatory process," said Ben Chang, CEO, Rich Pharmaceuticals.
Under the terms of the agreement, Rich Pharmaceuticals will receive 15 million shares of HypGen Common Stock. Rich Pharmaceuticals plans to dividend a minimum of five million of these shares to its shareholders at such time as the company completes the necessary corporate and regulatory requirements regarding payment of a dividend.
"There is a long tradition in biotechnology to share data when possible because we all have the same aim: To save lives and to prolong productive lives. We are blessed to play a role in that tradition and pleased that our investors will benefit from this agreement," Mr. Chang said.
The terms of the support and collaboration agreement, and a copy of the agreement, were disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 12, 2017, which may be found at www.sec.gov or on the Company's website at www.richpharmaceuticals.com/investor-relations/sec-filings/.
About Rich Pharmaceuticals:
Rich Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies in oncology, with initial concentration in treating Acute Myelocytic Leukemia (AML), Hodgkin's Lymphoma (HL) and other blood related diseases. It is currently in Phase 1/2 clinical trials for the treatment of AML and HL. Rich Pharmaceuticals' goal is to extend refractory patients life expectancy and increase quality of life. Learn more at www.richpharmaceuticals.com
Forward-Looking Statements:
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, references to novel technologies and methods, our business and product development plans, our financial projections or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to raise the additional funding we will need to commence clinical trials and to continue to pursue our business and product development plans, our ability to develop and commercialize products based on our technology platform, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
Contact Information:
Contact:
Paul Knopick
pknopick@eandecommunications.com