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BATON ROUGE, LA--(Marketwired - August 22, 2017) - OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) ("OncBioMune" or the "Company"), a revenue-stage biopharmaceutical company engaged in the development of targeted cancer therapies, a proprietary cancer vaccine technology and commercialization of a portfolio of products internationally, today reports that the requisite documents for transferring the Mexican rights to market Norepinefrine across the country to OncBioMune have been submitted to the Mexican Ministry of Health. On June 19, 2017, the Company announced acquiring the sanitary registration and intellectual property rights to Norepinefrine in Mexico and other markets from the Mexican subsidiary of the world's biggest generic drug company.
Norepinefrine is approved in Mexico as indicated for the treatment of low blood pressure and heart failure. The Norepinefrine registration can also be used in other Central and Latin American countries. OncBioMune continues to conduct its due diligence on the most attractive markets, with plans to selectively launch the drug in other markets in the future.
OncBioMune is presently negotiating details to bring Norepinefrine manufacturing to a state-of-the-art facility in Latin America, a move that will contain costs and provide the Company greater control in the supply chain.
"We estimate that the government bid/tender process will result in approximately US$1 million in annual sales, a solid addition to our growing portfolio of drugs in Mexico," commented Andrew Kucharchuk, President and Chief Financial Officer at OncBioMune. "We don't foresee any issues with the transfer, which typically takes 60 days or less, which is keeping us right on track to have Norepinefrine generating revenue for us in 2018, at which time we'll make decisions about expansion into other promising markets."
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About OncBioMune Pharmaceuticals, Inc.
OncBioMune Pharmaceuticals is a revenue-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, including a proprietary vaccine technology designed to stimulate the immune system to attack tumor cells without damaging healthy tissue. OncBioMune is also involved in drug development and commercialization internationally through our wholly-owned subsidiary, OncBioMune México, S.A. De C.V. Our lead pipeline product, ProscaVax™, is scheduled to commence two, separate mid-stage clinical trials in 2017: a Phase 2 for early-stage prostate cancer at a major Northwest U.S. university cancer research hospital and a Phase 2/3 study in Mexico for late-stage prostate cancer patients. OncBioMune has a portfolio of targeted and licensed therapies, some of which are biosimilars and generics to blockbuster drugs. OncBioMune is headquartered in Baton Rouge, LA.
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.OncBioMune Pharmaceuticals, Inc.Andrew KucharchukPresident and Chief Financial OfficerNEXT ARTICLE
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