Sunshine Biopharma Receives Second Tranche From Previously Announced $2,000,000 + Financing for Coronavirus Treatment
Sunshine Biopharma Inc. (OTC PINK:SBFM) announced it has secured a second tranche of funding totaling $550,000 from RB Capital Partners under a $2 million financing agreement. The funds will support the development of its Coronavirus treatment and the clinical development of Adva-27a, its lead anticancer drug. SBFM-PL4, a lead compound targeting Coronavirus proteases, is currently progressing through testing phases in collaboration with the University of Georgia. The company is also conducting trials for Adva-27a aimed at treating multidrug-resistant cancers, including pancreatic cancer.
- Secured $550,000 funding from RB Capital Partners, part of a $2 million financing deal.
- Ongoing development of Coronavirus treatment, advancing SBFM-PL4 through testing stages.
- Adva-27a shows effectiveness against multidrug-resistant cancer cells, with trials planned at McGill University.
- No drugs currently available to effectively combat COVID-19, highlighting the risk of competition.
- Financial uncertainties and risks associated with achieving profitability outlined in the forward-looking statements.
MONTREAL, QC / ACCESSWIRE / October 26, 2020 / Sunshine Biopharma Inc. (OTC PINK:SBFM), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs, today announced that it has received the second tranche of funding under the recently announced committed minimum financing of
Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent of the ongoing COVID-19 pandemic that has claimed the lives of over 1.1 million people worldwide since it first appeared in December 2019. There are currently no drugs that can effectively arrest replication of the virus in people who have contracted the illness. On May 22, 2020, Sunshine Biopharma filed a provisional patent application for several molecules which were designed by computer-aided modeling to inhibit the Coronavirus proteases, thus shutting down the ability of the virus to multiply. Sunshine Biopharma has since completed the synthesis of four such molecules and identified a lead compound, SBFM-PL4. In collaboration with the University of Georgia, College of Pharmacy, the Company is currently advancing the development of SBFM-PL4 through the in vitro testing stage to be followed by mice studies before entering clinical trials on COVID-19 patients.
"We are excited about the financing arrangement we have in place with RB Capital as it provides with the funding required for our research projects," said Camille Sebaaly, Chief Financial Officer of Sunshine Biopharma.
About Sunshine Biopharma
In addition, to working on the development of a treatment for COVID-19, Sunshine Biopharma is engaged in the development Adva-27a, a unique anticancer compound. Tests conducted to date have demonstrated the effectiveness of Adva-27a at destroying Multidrug Resistant Cancer Cells, including Pancreatic Cancer cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer indication are planned to be conducted at McGill University's Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is owner of all patents and intellectual property pertaining to Adva-27a.
Safe Harbor Forward-Looking Statements
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
For Additional Information:
Sunshine Biopharma, Inc.
Camille Sebaaly, CFO
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com
SOURCE: Sunshine Biopharma Inc.
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