Oncology Pharma Moves to Fund Lead Drug Formulation & IND-Enabling Studies
Oncology Pharma Inc. (OTC: ONPH) has announced the initiation of formal drug development for its lead product utilizing proprietary nanoemulsion technology from NanoSmart Pharmaceuticals. The company will fund the preclinical development of a dactinomycin nanoemulsion, which previously received FDA Orphan Drug Designation in 2015. Oncology Pharma aims to create innovative cancer treatments that are safer and more effective, with plans for both veterinary studies and potential future human clinical trials.
- Initiation of drug development for a dactinomycin nanoemulsion.
- Access to proprietary intellectual property for novel cancer treatments.
- Previous FDA Orphan Drug Designation for the product.
- Current negative operating cash flows requiring additional funding.
- Possible dilution from future financing.
- Risks related to licensing agreements and joint ventures.
San Francisco, CA, March 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Oncology Pharma Inc. (OTC: ONPH) is pleased to announce initiation of formal drug development and preclinical planning for its lead drug product, based upon proprietary nanoemulsion technology licensed from NanoSmart Pharmaceuticals. Oncology Pharma will be providing the initial funds to develop and evaluate a dactinomycin nanoemulsion drug product. A version of this product originally received FDA Orphan Drug Designation in 2015.
Oncology Pharma has secured access to a broad range of proprietary intellectual property with the potential to make novel drug products to treat cancer that are both safer and more effective than the original drug(s) currently in the market. Oncology Pharma has initiated discussions with NanoSmart on near-term goals including analytical method validation and drug product characterization. Once complete, formal preclinical safety and veterinary clinical studies will be pursued. Veterinary drug development will serve a current and growing need for better treatment options. Data from this project may also be applied towards future regulatory approval to initial human clinical studies for the same drug formulation.
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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