Oncology Pharma Has Provided Initial Funding to NanoSmart Pharmaceuticals to Conduct Feasibility Studies for Initial Phases of IND-Enabling Activities
Oncology Pharma (OTC: ONPH) has initiated funding for the development of a dactinomycin nanoemulsion drug, utilizing proprietary technology from NanoSmart Pharmaceuticals. The initial financing marks the beginning of formal drug development and preclinical planning. The company aims to continue funding research and development efforts. Notably, a version of this product received FDA Orphan Drug Designation in 2015, suggesting potential for addressing unmet medical needs in oncology.
- Initial financing for drug development completed.
- Utilization of proprietary nanoemulsion technology from NanoSmart.
- Continued funding planned for research and development.
- FDA Orphan Drug Designation received in 2015 for a version of the product.
- Current negative operating cash flows reported.
- Need for additional funding to finance operating plans.
- Potential for highly dilutive financing with onerous terms.
- Risks related to licensing arrangements and joint ventures.
SAN FRANCISCO, CA, March 31, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Oncology Pharma, Inc. (OTC: ONPH) is pleased to announce that it has provided the initial financing for the initiation of formal drug development and preclinical planning; based upon proprietary nanoemulsion technology licensed from NanoSmart Pharmaceuticals. Oncology Pharma has wired initial funds to develop and evaluate a dactinomycin nanoemulsion drug.
Oncology Pharma has begun its evolution into the next phase of implementing funds and completing its first stage of funding for NanoSmart. The Company plans to continue additional funding for research and development moving forward. A version of this product originally received FDA Orphan Drug Designation in 2015.
The licensed technology possesses proprietary technology and intellectual property rights for the development of pharmaceutical drug formulations that are liposomal and/or emulsion-based formulations and that may incorporate Anti-Nuclear Antibodies (ANA). The Autoantibodies utilized as carrier agents for pharmaceutical compounds used in tumor imaging and cancer treatment
ABOUT ONCOLOGY PHARMA, INC.
ONCOLOGY PHARMA, INC. (OTCPK: ONPH) (the "Company") is currently engaging in research and development of therapeutics for oncology and prides itself for having a world-class Advisory Board that keeps the Company in the forefront of developing technologies in cancer research, biotechnology, and healthcare.
ABOUT NANOSMART PHARMACEUTICALS, INC.
NanoSmart® Pharmaceuticals is a privately-held California corporation that is developing nanoparticle drug delivery platforms that utilize anti-nuclear antibody (ANA) to target existing drug therapies to areas of necrosis present in virtually all solid cancer tumors.
FORWARD-LOOKING STATEMENTS
Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include risks related to licensing arrangements and joint ventures, including the need to negotiate the definitive agreements for the relationships; possible failure to realize anticipated benefits of business relationships; and, costs of providing funding to these business relationships. Other risks and uncertainties relating to the Company include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners and with any strategic or joint venture partners; the impact of competition; the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; management of growth; and, other risks and uncertainties. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position.
CONTACTS:
For additional information, please contact the Oncology Pharma at:
One Sansome Street, Suite 3500
San Francisco, CA 94104
Phone: 415-869-1038
Fax: 415-946-8801
Website: www.oncology-pharma.com
Email: info@oncology-pharma.com
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