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BATON ROUGE, La., May 01, 2019 (GLOBE NEWSWIRE) -- OncBioMune Pharmaceuticals, Inc. (OTCQB:OBMP) ("OncBioMune" or the "Company"), a clinical-stage biopharmaceutical company engaged in the development of a proprietary therapeutic cancer vaccine immunotherapy and targeted cancer therapy, is pleased to announce that it has received a letter of interest from CATO BioVentures, the venture capital affiliate of Cato Holding, a privately held family fund.
This agreement is in support of the development plan of OncBioMune’s patented CD71-targeted chemotherapy combining paclitaxel, gallium, and transferrin, otherwise known as “PGT.”
PGT is designed to deliver the chemotherapeutic agent paclitaxel to cancer cells over-expressing the transferrin receptor (aka CD71). Paclitaxel is currently FDA-approved in two forms: as solvent-based paclitaxel (sb-paclitaxel, Taxol®) and protein-based paclitaxel (nab-paclitaxel, ABRAXANE®).
PGT binds paclitaxel to the human protein transferrin as opposed to albumin, which is employed in nab-paclitaxel. This creates the potential to target the paclitaxel to CD71, which has been shown to be over-expressed on many different cancer types. Additionally, PGT takes advantage of the fact that the transferrin protein has binding sites for iron that can bind a different metal ion, gallium, which has anti-cancer activity. In theory, this creates a novel protein drug complex which has the capacity to deliver two, non-cross resistant cancer therapeutics in a targeted fashion.
“We are excited that CATO BioVentures has a belief in our science that would motivate them to become a strategic investor in OncBioMune. We are hopeful that this show of support from such a high quality provider will act as a catalyst to assist us in additional favorable fundraising activities,” commented Dr. Brian Barnett, Chief Executive Officer at OncBioMune. “It has already been a pleasure working with the team of the CATO Research CRO arm as we start the process of putting together a clinical development plan for our proprietary therapy, PGT, and strive toward the goal of getting PGT accessible to patients with refractory cancers that represents a large area of unmet medical need.”
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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, based on their proprietary therapeutic cancer vaccine technology designed to stimulate the immune system to attack tumor cells without damaging healthy tissue. Our lead pipeline product, ProscaVax™, has successfully completed enrollment and vaccination of the prostate cancer patients and is collecting long-term follow-up results for the 1a portion of their Phase 1a/1b clinical trial. Due to the impressive results and proven safety profile of ProscaVax™, OncBioMune is forgoing the 1b portion of the trial to advance ProscaVax™ into Phase 2 clinical trials A Phase 2 clinical trial is scheduled to commence at Beth Israel Deaconess Medical Center a Harvard University teaching hospital evaluating ProscaVax as a front-line therapy in prostate cancer patients in the “active surveillance” category, representing the first mid-stage trial of an immunotherapeutic vaccine in this patient population. 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.
Brian Barnett, MD
Chief Executive Officer