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Veterinary Oncology Licensing Agreement Signed Between SourcingLink.net and NanoSmart Pharmaceuticals, Inc.
Veterinary Oncology Licensing Agreement Signed Between SourcingLink.net and NanoSmart Pharmaceuticals, Inc..
About this update from Oncology Pharma Inc.
[{"type":"text","content":"\nSan Francisco, CA, April 03, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SourcingLink.net, Inc. (SNET), a San Francisco, CA based company, announced today that it entered into an exclusive, worldwide licensing agreement with NanoSmart Pharmaceuticals, Inc (NanoSmart) for the right to use NanoSmart's Anti-Nuclear Antibody (ANA)-targeted drug delivery technologies to develop and commercialize chemotherapy drug formulations for veterinary oncology.\n The National Cancer Institute estimated that as many as 12 million pets are diagnosed with cancer each year. The pet cancer therapeutics market, according to Global Insights [source: https://gminsights.wordpress.com/tag/pet-cancer-therapeutics-market-size/] is projected to exceed a revenue of $300 million by 2024, with a compound annual growth rate of 10% over 2017-2024.  In addition, the Comparative Oncology Program of the National Cancer Institute is designed to “gain a better understanding of the biology of cancer and improve the assessment of novel treatments for humans by treating pet animals with naturally-occurring cancers.” [source: NCI Center for Cancer Research: https://ccr.cancer.gov/research] SourcingLink.net stated, \"We are pleased to have licensed the application of NanoSmart's tumor-targeting technologies to improve the safety and quality of treatments for animals suffering from cancer and other diseases. This is a significant extension of our oncology product portfolio into animal health care to address the growing need for improved pet cancer therapies that can improve outcomes and extend lifespan.” The license includes broad access to NanoSmart’s proprietary drug delivery approaches, including ANA-targeted nanoparticles, for the purpose of developing veterinary oncology drug products. Under the terms of the agreement, NanoSmart will receive restricted common shares of SNET stock, an upfront fee, an annual maintenance fee, and a high single-digit royalty on net sales of formulations that incorporate NanoSmart's intellectual property. Dr. James Smith, President of NanoSmart, stated, \"This additional license agreement demonstrates the value and broad-applicability of our drug delivery platform technologies. The development of products for this market will also support SNET’s and NanoSmart’s mutual goal to provide new and...