BATON ROUGE, LA--(Marketwired - November 11, 2016) - OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) ("OncBioMune" or the "Company"), a clinical stage biopharmaceutical company engaged in the development of novel cancer products and a proprietary vaccine technology, is pleased to provide shareholders additional insight as to the Company's ongoing initiative to acquire Mexican Joint Venture partner Vitel Laboratorios, S.A. de C.V. ("Vitel"). In September, OncBioMune disclosed negotiating a potential merger, which resulted in the signing of a non-binding term sheet, as disclosed on November 3, 2016. The legal teams for each company are actively working on definitive agreement documents to create a binding arrangement, which would entail Vitel becoming a wholly owned subsidiary of OncBioMune.
Currently, OncBioMune and Vitel have agreed in principle that the acquisition will transfer rights to Vitel's portfolio of products to OncBioMune, as well as establish new relationship between OncBioMune and Vitel's current network of distribution, proprietary rights, Joint Venture and licensing partners.
Vitel presently has Mexican territorial rights through licensing agreements with Roha Arnzemittel, GmbH ("Roha") for Bekunis® (for constipation) and Cirkused® (for stress), as well as licensing rights to the remainder of Roha's pipeline at Vitel's discretion. These products were commercialized in September by Vitel and have generated approximately $100,000USD in revenue in approximately six weeks of an initial re-launch to the Mexican markets.
Vitel also has Mexican territorial rights through licensing agreements with Cheplapharm Arzneimittel GmbH for Vesanoid® (for cancer); Kamada for KamRab® (for rabies), KamRho® (an Rh immunization) and Glassia® (for Anti-D deficiency); Aqvida for Imatinib (for cancer), Docetaxel (for cancer), Azathriopine (an immunosuppressive drug); and QPharma for Androferti (a male fertility drug).
For Mexico, Central and Latin America, Vitel has Joint Venture partnerships forged for development and commercialization of several products, including, Gem Pharmaceuticals for GPX-150 (for sarcoma); EOC Pharma for Telatinib (for first line gastric cancer treatment); and Rational Vaccines for the first and only herpes Vaccine technology for the treatment of HSV-2 and HSV-1.
Further, Vitel is under development of world right agreements with confidential partners for the moment, where R&D and unique innovation is involved.
In addition to the product pipeline and partners, Vitel's network channel partners cover the gamut of drug development and marketing. A sampling of relationships includes, CID Information Systems (marketing intelligence), Grupo Nichos (pharmaceutical salesforce, demand generation), CeroGrados (pharmaceutical warehousing, and old chain), CRO's authorized by the COFEPRIS and Regulatory Affairs parties that are authorized by the COFEPRIS for dossier build up and pre-inspection.
"I think it is pretty clear why we are excited to be working with Vitel on ProscaVax for development south of the U.S. border and why the acquisition of Vitel brings tremendous value to OncBioMune from the outset," commented Dr. Jonathan Head, Chief Executive Officer at OncBioMune. "The long standing relationships they have with some of the venerable companies in the pharmaceutical space in Mexico and throughout Latin America is something that takes years to develop. Upon completing the acquisition we immediately become a respected player in the space, which will be invaluable with moving forward with our aggressive growth plans."
While the acquisition is moving forward in good faith, interested parties are advised that the acquisition of Vitel by OncBioMune remains subject to the execution of a definitive agreement containing customary representations, warranties, and closing conditions, completion of due diligence and approval by the respective boards of directors of OncBioMune and Vitel.
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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, 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.
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.