BATON ROUGE, LA--(Marketwired - October 07, 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 an update today advising on current activities and refreshing its corporate strategy for Q4 2016.
"As represented in our most recent corporate press releases, the company is actively pursuing long-term growth through strategic acquisitions and the advancement of our ongoing clinical trials," stated OncBioMune CEO, Dr. Jonathan Head, adding, "We are pleased and proud to provide shareholders a timely update highlighting our progress and expectations."
Progress continues as (16) patients are now currently enrolled in the Phase 1a trial, (15) of whom have received at least one vaccine, (14) of whom have received all mandated vaccines. None of the patients that have received the vaccine on any level have experienced a dose limiting adverse event (DLAE).
Based on the positive preliminary data the Company has commenced with a significantly larger Phase 2/3 trial of ProscaVax through a previously reported Joint Venture with Vitel Laboratorios S.A. de C.V. in Mexico, a key acquisition target with which the company continues its discussions.
Additionally, the Company's CRO partner Theradex Oncology is currently reviewing the protocol for its trial of ProscaVax in early-stage prostate cancer patients in the "active surveillance" stage of disease to be initiated at Harvard University early next year.
With a strong safety profile now established for ProscaVax and no serious adverse events reported, the Company believes they have further validated prior research in hundreds of patients showing minimal toxicity of the Company's vaccine technology.
As previously disclosed the Company has entered a shareholder's agreement on August 19th, 2016 with Vitel Laboratorios S.A. de C.V. ("Vitel") to acquire the Mexico-based pharmaceutical company which develops and commercializes high specialty drugs in Mexico and other Latin American countries.
Vitel is revenue positive with a drug portfolio consisting of (12) drug candidates licensed for the Mexican market. The purpose of the potential acquisition would be to develop and commercialize the ProscaVax vaccine technology and cancer technologies in Mexico, Central and Latin America ("MALA").
Additional strategic acquisitions are currently being reviewed by the Company as it continues its focus on expanding its drug portfolio and building long-term shareholder value.
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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.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to plans to acquire Vitel and future product launches) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.