SOURCE: Easton Pharmaceuticals, Inc.

March 25, 2014 08:44 ET

Easton Pharmaceuticals Announces Update to Its Cancer Drug Initiative: Majority Acquisition, Patent Strategy and Clinical Development Along With New Partnership Proposal Involving Medicinal Marijuana Drug Development

TORONTO, ON--(Marketwired - Mar 25, 2014) - Easton Pharmaceuticals, Inc. (OTC: EAPH), a specialty pharmaceutical company that owns, designs, develops, and markets an array of topically-delivered drugs and therapeutic / cosmetic healthcare products, announces it has entered into an agreement towards securing majority control of the cancer drug Xilive, pending certain conditions and a new partnership proposal towards medicinal marijuana.

Easton is moving forward on its cancer drug Xilive based on the encouraging survival and disease-free data from two late-stage, long-term cancer survivors who have been on Xilive for several years each. Easton has closed on a majority ownership agreement with the inventor and current majority owners of the drug, but is conditional upon receiving clarification that the drug is patentable. Once the company receives confirmation, Easton will then close on its agreement to dramatically increase and gain a majority ownership position in Xilive with terms involving the issuance of common shares in the company, following which the company will proceed to focus on Xilive's development, formalize and strengthen the patent estate and announce specifics on its clinical development plan. Easton is able to disclose it has had preliminary talks with several well respected clinical investigators and CRO companies including with current advisors and consultants to the company with experience in cancer drug development, and intends to pursue their participation in Xilive's clinical development once the patent and ownership issue has been addressed.

Initial feedback on patients treated prior to Easton purchasing its minority interest in Xilive has been extremely encouraging although they were not performed under the supervision of oncologists in a controlled study. Easton will formalize a clinical plan aimed at "fast-track" approval in most controlled jurisdictions. Since cancer is a disease which can cause death very quickly, Easton, in consultation with its advisors and consultants believes the clinical path towards a formal POC (Proof of Concept) study could be very brief, and based on formal data from a well-run POC study, could lead to initiation of approval stage (Phase II/III) clinical studies in 2015 which is dependent on obtaining adequate financing to complete. At this point if the data shows similar results to the first few patients who have taken Xilive, Easton believes it could license the drug to a major Pharmaceutical company in the cancer drug arena. The drug can be currently utilized only under the compassionate use exemption within the United States, which calls for a patient or anyone wishing to be administered the drug as a treatment for cancer to file necessary paperwork with the food and drug administration to get approval for its use.

In other developments, Easton Pharmaceuticals has submitted a proposal to Vodis Innovative Pharmaceuticals and with one other company who are both considered expert growers and companies possessing the expertise and high technology extraction equipment for a partnership agreement to extract certain ingredients from different strains of marijuana plants allowing Easton to enter into its own research and development towards utilizing its transdermal delivery technology to produce a drug to treat various ailments and conditions in which marijuana is now known to be effective at treating. In addition, the company believes that an alternative will one day exist where smoking and inhaling marijuana will be replaced by a transdermal patch that can safely and effectively deliver the medicinal and non-medicinal ingredients within cannabis which would assist the many individuals who have lung and respiratory problems and conditions. Although under current laws this is not presently allowed in North America, it is allowed in various other countries around the world. However, many believe that the United States will be the first in North America in the not too distant future to eventually allow for the complete legalization of marijuana on a federal level just as the state of Colorado has recently enacted. Any such agreements with Vodis or any other companies would be separate from all other businesses that would involve growing or distributing medicinal marijuana. More detailed updates on this initiative will be released as they develop.

About Easton Pharmaceuticals

Easton Pharmaceuticals is a specialty pharmaceutical company involved in various industries including medical marijuana and who owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues related towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals product "VIORRA," is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder) the world market for these female conditions are conservatively estimated to be in the billions. VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients. 

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