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Oncology Pharma Receives LOI for Financing for US$ 38.4M from SCP Partners Ltd
Oncology Pharma Receives LOI for Financing for US$ 38.4M from SCP Partners Ltd.
About this update from Oncology Pharma Inc.
[{"type":"text","content":"\n SAN FRANCISCO, CA, Dec. 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – ONCOLOGY PHARMA, INC. (OTCPK: ONPH) is pleased to announce that it has received a letter of intent dated December 20th to facilitate a financing of US$ 38.4 Million from SCP Partners, Ltd, UK. Financing is to be used to complete licensing agreements with Kalos Therapeutics for its lead anti-cancer bio-pharmaceutical (a peptide) medication, KTH-222. Kalos’ platform of peptide-based therapeutic drugs have internationally issued patents (EP 2 224 946 B1), along with a number of international patents pending. Also included in the financing is the completion of the licensing agreement with Ribera Solutions for its Connect2Med Application. Subject to a 90 day due diligence period. Oncology Pharma previously announced the execution of a Letter of Intent with Diagnomics, Inc. to acquire a 50% interest.  As part of the transaction, Onco Pharma will acquire a 5% interest of India-Eone Diagnomics center and also include a 3.25% stake in Eone Diagnomics of South Korea.  Eone Diagnomics was one of the most successful biotech IPOs on the KOSDAQ in 2018 attaining a high value of US$ 250M in that year. Diagnomics is a CLIA and a CAP accredited laboratory in San Diego, CA.  The company provides CLIA services to global pharmaceutical companies, including academic and biotech companies. Diagnomics' artificial intelligence combined with artificial intelligence is a \"game changer\" in precision medicine, drug development, clinical trials, lowering of cost and time of clinical trials, faster regulatory approval process and faster availability of drugs to the patients.   According to Coherent Market Insights, the global oncology drugs market was valued at US$ 77.3 billion in 2018 and is projected to exhibit a CAGR (Compound Annual Growth Rate) of 12.3% through 2026. In light of our LOI with Diagnomics, Inc. the global Genomic Market is valued at US$ 13.2 Billion and expected to grow to US$ 30.59 Billion by 2025 at a CAGR of 9.78% according to Kenneth Research Oncology Pharma CEO, Chuck Wagner, commented: “I am delighted to have received a Letter of Intent to facilitate the necessary financing for Oncology Pharma to execute our business plan and taking this step to completing our acquisitions and licensing agreements as previ...