Panacea Global, Inc.

Panacea Global, Inc.

May 27, 2015 13:01 ET

Panacea Global Attains the Option to Purchase Majority Rights to the HAAH-Based Blood Test for the U.S. Market

TORONTO, ONTARIO--(Marketwired - May 27, 2015) - Panacea Global, Inc. ("Panacea") (OTCBB:PANG) a biotechnology company focused on the discovery, development and commercialization of diagnostic products for the management of cancer, has recently acquired an option to purchase majority stake of the company that owns the rights to the U.S. market for HAAH-based blood test originally developed by Panacea Pharmaceuticals, Inc.

Panacea Global previously owned the rights to the HAAH-based blood test for the detection of cancer in all global markets excluding the United States of America. With this recent agreement Panacea Global now has the option to purchase 51% of the company that exclusively owns the rights to the same technology for the US market for the purchase price of $5.1 million. This option provides Panacea Global majority controlling stake in what is estimated to be 10% of the global market size of its technology.

"This transaction not only provides Panacea Global with global exclusivity of this novel technology, but also enables this technology to be accessible to our shareholders majority of whom are in the USA" stated Dr. Mahmood Moshiri, President and CEO Panacea Global.

About Panacea Global

Panacea Global is a biotechnology company focused on the development and commercialization of diagnostic products for the management of cancer. Panacea has developed an accurate, timely, cost effective and non-invasive early cancer detection test to increase the quality of life of cancer patients and ultimately saving lives. Panacea's test is based on the detection of the human aspartyl (asparaginyl) β-hydroxylase (HAAH), a novel biomarker expressed in malignant cancer cells in patients' blood samples. Panacea Global has the exclusive worldwide (excluding the USA) rights to HAAH-based cancer tests. More information about Panacea Global (OTCBB:PANG) is available at

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