SOURCE: OncBioMune Pharmaceuticals, Inc.

OncBioMune Pharmaceuticals, Inc.

March 29, 2016 08:30 ET

OncBioMune Pharmaceuticals Inc Signs MOU for Joint Venture With Vitel Laboratorios to Develop Novel Cancer Vaccine for Mexico and Latin America

BATON ROUGE, LA --(Marketwired - March 29, 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 inform shareholders that the Company has signed a Memorandum of Understanding ("MOU") with Vitel Laboratorios S.A. de C.V. for the purpose of establishing a Joint Venture ("JV"), to be named OncBioMune Mexico S.A. de C.V. ("OncBioMune Mexico"), to develop and commercialize OncBioMune's portfolio of innovative cancer therapies in Mexico and Latin America.

The initial focus of the JV will be immediately advancing ProscaVax, OncBioMune's novel prostate cancer vaccine combining a tumor-associated antigen with biological adjuvants, into a Phase 2A/2B clinical trial in Mexico. The planned 100-patient clinical trial will be structured as a two-stage study of ProscaVax (PSA/IL-2/GM-CSF) for the treatment of PSA recurrent prostate cancer in hormone-naïve and hormone-independent patients. The trial is expected to last 36 months. Should preliminary data from the study show efficacy, a Preliminary Marketing Authorization will be pursued to commercialize ProscaVax in Mexico, which has the potential to happen in as little as 24 months from the commencement of the Phase 2A/2B study.

In the United States, ProscaVax is currently in a Phase 1 clinical trial for relapsed prostate cancer patients and scheduled for a Phase 2 clinical trial for prostate cancer patients at disease presentation at a preeminent cancer institution in the Northeast United States later in 2016. In addition to the Phase 2A/2B trial in Mexico under the direction of OncBioMune Mexico, these trials will continue as planned under the direction of OncBioMune Pharmaceuticals.

"This partnership with Vitel is an outstanding opportunity for us to widen our pipeline, contain clinical trial expenses and expedite the development of ProscaVax with the goal of commercialization into the extremely large markets of Mexico and Latin America," commented Dr. Jonathan Head, Chief Executive Officer at OncBioMune. "Vitel's principals have deep knowledge of the clinical process, regulatory affairs and distribution in Mexico and Latin America, which brings a complete solution after the trials are successful. We are very confident in the safety and efficacy of ProscaVax in lowering PSA levels in prostate cancer patients and this is the perfect marriage of skill sets to develop ProscaVax and grow shareholder value."

"We are extremely impressed with the data on ProscaVax and OncBioMune's leadership. An aging population and the dearth of safe and effective treatments for prostate cancer has our markets crying out for a blockbuster drug for the millions of patients in need in Mexico and through Latin America. We hope that this partnership will be able to answer that call with ProscaVax," said Manuel Cosme Odabachian, Chief Executive Officer at Vitel.

Prostate cancer is the most frequently diagnosed type of cancer in male patients over 50 years in age in Mexico. Annually, in excess of 300,000 Mexican men are diagnosed with prostate cancer and more than 5,000 deaths result from the disease. Today's treatments are similar to that in the United States, including radiotherapy and other traditional methods that are accompanied by high morbidities. The lack of new, innovative therapies and high diagnosis rate has made prostate cancer an area of great unmet medical need in Mexico.

Sign up for OncBioMune email alerts at: http://oncbiomune.com/email-alerts/.

About Vitel Laboratorios S.A. de C.V.

Vitel Laboratorios S.A. de C.V. was created by the principals of Avivia Pharma S.A. de C.V. ("Avivia") following the sale of Avivia in January 2016. Vitel is a 100% Mexican owned company that focuses in the investment in Research & Development of novel technologies, representation of international companies and/or products with full operations to distribute in the Mexican and Latin American market. 

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

  • INVESTOR AND MEDIA CONTACT:

    OncBioMune Pharmaceuticals, Inc.
    Andrew Kucharchuk
    President and Chief Financial Officer
    akucharchuk@oncbiomune.com