Healthcare Industry News: S.A.
News Release - November 11, 2016
OncBioMune Broadens Portfolio, Partners and Product with Vitel Acquisition
BATON ROUGE, LA--(Healthcare Sales & Marketing Network) - OncBioMune Pharmaceuticals, Inc. (OBMP) ("OncBioMune" or the "Company"), a clinical S.A.e biopharmaceutical company engaged in the development of novel cancer productS.A.d a proprietary vaccine technology, is pleased to provide S.A.eholderS.A.ditional insight as to the Company's ongoing initiative to acquire Mexican Joint Venture partner Vitel Laboratorios, S.A. de C.V. ("Vitel"). In September, OncBioMune disclosed negotiating a potential merger, which resulted in the signing of a non-binding term sheet, as disclosed on November 3, 2016. The legal teams for each company are actively working on definitive agreement documents to create a binding arrangement, which would entail Vitel becoming a wholly owned subsidiary of OncBioMune.Currently, OncBioMune and Vitel have agreed in principle that the acquisition will transfer rights to Vitel's portfolio of products to OncBioMune, as well as eS.A.lish new relationship between OncBioMune and Vitel's current network of distribution, proprietary rights, Joint Venture and licensing partners.
Vitel presently has Mexican territorial rights through licensing agreements with Roha Arnzemittel, GmbH ("Roha") for Bekunis® (for constipation) and Cirkused® (for stress), as well as licensing rights to the remainder of Roha's pipeline at Vitel's discretion. These products were commercialized in September by Vitel and have generated approximately $100,000USD in revenue in approximately six weeks of an initial re-launch to the Mexican markets.
Vitel also has Mexican territorial rights through licensing agreements with Cheplapharm Arzneimittel GmbH for Vesanoid® (for cancer); Kamada for KamRab® (for rabies), KamRho® (an Rh immunization) and GlasS.A. (for Anti-D deficiency); Aqvida for Imatinib (for cancer), Docetaxel (for cancer), Azathriopine (an immunosuppressive drug); and QPharma for Androferti (a male fertility drug).
For Mexico, Central and Latin America, Vitel has Joint Venture partnerships forged for development and commercialization of several products, including, Gem Pharmaceuticals for GPX-150 (for sarcoma); EOC Pharma for Telatinib (for first line gastric cancer treatment); and Rational Vaccines for the first and only herpes Vaccine technology for the treatment of HSV-2 and HSV-1.
Further, Vitel is under development of world right agreements with confidential partners for the moment, where R&D and unique innovation is involved.
In addition to the product pipeline and partners, Vitel's network channel partners cover the gamut of drug development and marketing. A sampling of relationships includes, CID Information Systems (marketing intelligence), Grupo Nichos (pharmaceutical salesforce, demand generation), CeroGrados (pharmaceutical warehousing, and old chain), CRO'S.A.thorized by the COFEPRIS.A.d Regulatory Affairs parties that are authorized by the COFEPRIS for dossier build up and pre-inspection.
"I think it is pretty clear why we are excited to be working with Vitel on ProS.A.ax for development south of the U.S. border and why the acquisition of Vitel brings tremendous value to OncBioMune from the outset," commented Dr. Jonathan Head, Chief Executive Officer at OncBioMune. "The long S.A.ding relationships they have with some of the venerable companies in the pharmaceutical S.A.e in Mexico and throughout Latin America is something that takes years to develop. Upon completing the acquisition we immediately become a respected player in the S.A.e, which will be invaluable with moving forward with our aggressive growth plans."
While the acquisition is moving forward in good faith, interested partieS.A.e advised that the acquisition of Vitel by OncBioMune remains subject to the execution of a definitive agreement containing customary representations, warranties, and closing conditions, completion of due diligence and approval by the respective boards of directors of OncBioMune and Vitel.
Sign up for OncBioMune email alertS.A.: http://oncbiomune.com/email-alerts/.
About OncBioMune Pharmaceuticals, Inc.
OncBioMune Pharmaceuticals iS.A.clinical-S.A.e biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a proprietary Vaccine Technology that is designed to stimulate the immune system to attack its own cancer while not hurting the patient. Our lead product, ProS.A.ax® is scheduled to commence a Phase 2 clinical study in 2016. OncBioMune also haS.A.portfolio of targeted therapies, some of which are biosimilars to blockbuster drugs. OncBioMune is headquartered in Baton Rouge, LA.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.
Forward-Looking S.A.ements
This press release contains forward-looking S.A.ements made purS.A.t to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertaintieS.A.d assumptions that could cause OncBioMune Pharmaceuticals' actual resultS.A.d experience to differ materially from anticipated resultS.A.d expectations expressed in these forward looking S.A.ements. OncBioMune Pharmaceuticals has in some cases identified forward-looking S.A.ements 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 S.A.ementS.A.e OncBioMune Pharmaceuticals' need for, and the availability of, subS.A.tial capital in the future to fund its operationS.A.d reS.A.ch and development; the fact that OncBioMune Pharmaceutical's vaccineS.A.d therapeutics may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United S.A.es or elsewhere. A more complete description of these risk factors is included in OncBioMune Pharmaceutical's filings with the SecuritieS.A.d Exchange Commission. You should not place undue reliance on any forward-looking S.A.ements. OncBioMune Pharmaceuticals undertakes no obligation to release publicly the results of any revisions to any such forward-looking S.A.ements that may be made to reflect events or circumS.A.ceS.A.ter the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
Source: OncBioMune Pharmaceuticals
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