EL PASO, TX--(Marketwired - Jul 18, 2016) - Premier Biomedical, Inc. (OTCQB: BIEI)
Greetings from the CEO and Staff at Premier Biomedical, Inc.
I would like to take this opportunity to update you, our shareholders, on developments at Premier Biomedical, Inc. through the second quarter of 2016:
COMPANY BALANCE SHEET & SHARE STRUCTURE.
In 2015, unfortunately we had as many as five different lenders at any one time providing financing to the company and selling our stock. This resulted in excessive selling pressure in the market and dropping our stock to the sub-penny level. Through management-driven financial restructuring, we have eliminated the five competing lenders and consolidated into a single capital source.
In the second quarter, we worked with our primary funding source to establish long term financing on improved terms.
We recognize that there has been a considerable amount of selling pressure recently, but have been working to moderate that pressure.
We understand that we can't continue to borrow money on a long term basis to fund ongoing research and development. In order to eliminate the resultant selling pressure associated with loans, we must develop a source of revenue or arrange a partnering relationship with a larger, well established pharmaceutical entity.
We have been working on development of partnerships with a company in Brazil and a group in Asia for nearly a year. This process has taken much more time and energy than initially anticipated, and still is yet to result in an acceptable agreement.
We have modified our approach toward seeking relationships with multinational pharmaceutical firms as opposed to regional entities. Toward that end, we have established world-wide agents to represent our interests and have initiated contact with a number of potential partners.
We have received emails and telephone calls from large pharmaceutical companies as a result of our press releases. As the development of our technology progresses, we believe that we will attract much more interest from suitable multinational partners, which could lead to a developmental business alliance.
In the past, we had been working on a number of "specialty diseases" in an attempt to attract angel investors and pharmaceutical companies seeking specialty niches.
We have since concluded that we should focus our development efforts on two principal product groupings: 1) IMMUNOTHERAPY and 2) PAIN MANAGEMENT.
Immunotherapy would include our recent excellent work on development of our patent-pending anti-cancer antibody (see press release 6-Jul-16), which recently outperformed a multi-billion dollar commercially available competitive drug in laboratory mouse testing. Future extensions of this technology to other diseases will also be included in this product grouping.
Pain Management would include development of opioid-free pain killers addressing general, neuropathic, and localized pain symptoms. We are investigating numerous options, including diverse delivery methods, potentially with conventional, or unconventional ingredients, or both. When our product strategy is finalized, we will communicate our progress through press releases and corporate communications.
The company announced in May, 2016, the appointment of Dr. James Frincke as Chief Technical Officer. Dr. Frincke has been working with Premier Biomedical for the past year as a member of our Scientific Advisory Board. (See our press release of 24-May-16 for more details). His expertise and experience in launching new pharmaceutical products and connections within the industry are expected to expedite our product market introductions and advance our partnering strategy.
ANTI-CANCER DRUG PROGRESS
Two years ago, at the AACR Conference in San Diego, researchers presented our original anti-body which demonstrated capabilities of blocking breast cancer antigens at a rate of 36% in laboratory tests.
In April, 2016, researchers from UTEP presented our most recent anti-breast cancer antibody test results at the American Association for Cancer Research (AACR) Conference held April 16-20, 2016 in New Orleans.
Our 2016 patent-pending antibody was almost three times more effective than the 2014 version, demonstrating capabilities of blocking 98.8% of breast cancer antigens. We believe that this latest antibody is possibly more effective than other available treatments and are in the process of conducting confirmation tests.
STOCK SUPPORT ACTIONS
We currently have support contracts with three investor relations/media/digital marketing firms:
We have increased our focus on getting our message out through social media and encourage our stockholders and readers to follow us on these channels.
We have tried other IR firms with limited success in the past, and will continue to search for the most cost effective firms in the future.
We are extremely pleased with the early mouse testing results which demonstrate superior performance of our patent-pending anti-cancer antibody versus commercially available antibodies from competitors. We believe that planned tests in the very near future will verify the superiority of our anti-cancer antibody and will attract the attention of large pharmaceutical firms to license our technology.
We are optimistic that the strategic steps being taken in the pain management category could result in early commercialization of unique products and forms not requiring initial FDA approval. This first wave of products consisting of approved and natural ingredients could provide revenue to the corporation to fund further research and development of subsequent generations of products which require FDA testing.
I remain respectfully yours,
William A. Hartman
President & CEO