SOURCE: OncBioMune Pharmaceuticals, Inc.

OncBioMune Pharmaceuticals, Inc.

April 20, 2016 08:00 ET

OncBioMune Enters Joint Venture, Preparation for Phase 2 Trial of Novel Cancer Vaccine for Prostate Cancer Underway

BATON ROUGE, LA--(Marketwired - April 20, 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 announce the execution of the contract to form a Joint Venture ("JV") with Vitel Laboratorios S.A. de C.V. ("Vitel") for the purpose of developing and commercializing OncBioMune's portfolio of innovative cancer therapies in Mexico and Latin America. The documentation is being prepared to create the JV as a legal entity named OncBioMune Mexico S.A. de C.V. ("OncBioMune Mexico"). It has been agreed that Dr. Jonathan Head, Chief Executive Officer and Chairman of OncBioMune, will serve as Chief Executive Officer and President of OncBioMune Mexico. Manuel Cosme Odabachian, Chief Executive Officer of Vitel, will serve as Secretary of OncBioMune Mexico.

During the process of formally creating the JV, OncBioMune and Vitel are working collaboratively to design a Phase 2 clinical trial of ProscaVax, OncBioMune's novel vaccine for the treatment of prostate cancer. The protocol is being developed and the host hospital and doctors that will be overseeing the trial have already been identified and agreed to be involved in the study. 

The trial will evaluate ProscaVax, a combination of the tumor-associated antigen PSA with the biological adjuvants IL-2 and GM-CSF, in treating both PSA recurrent prostate cancer in hormone-naïve and hormone-independent patients and, patients in active surveillance population. The first category is a similar patient population to that being evaluated in an ongoing Phase 1 clinical trial of ProscaVax at University of California San Diego Moores Cancer Center and Veterans Hospital in La Jolla, California. Data recently released by the Company showed an increased immune response in 89% (8 out of 9) patients at 31 weeks post vaccine and reduction in PSA progression in 60% (6 out of 10) patients after receiving six vaccinations.

"Many months of negotiations and planning with Vitel are coming together very quickly into a mid-stage trial of ProscaVax in Mexico, a country that, much like the U.S., is in great need of an effective therapy to treat prostate cancer," commented Dr. Head. "Vitel is a tremendous partner and is using its experience and vast network to spearhead our initiative to expedite development."

"Mexico is looking to better position itself as a leader in drug development. While still careful to keep safety the top priority, there is a favorable regulatory framework for development of drugs for serious diseases like prostate cancer," added Manuel Cosme Odabachian. "The scientific evidence and Phase 1 data on ProscaVax are very compelling and if the vaccine can improve outcomes and lower PSA in a larger patient sample, we believe there is a strong case for accelerated commercialization in Mexico, perhaps about two years from the start of the trial."

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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.

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.

Contact Information

  • Contact:
    INVESTOR AND MEDIA CONTACT:
    OncBioMune Pharmaceuticals, Inc.
    Andrew Kucharchuk
    President and Chief Financial Officer
    akucharchuk@oncbiomune.com