Business
Sunshine Biopharma Pays Off Convertible Notes in Cash Preventing New Shares From Hitting the Market
MONTREAL, QC / ACCESSWIRE / December 3, 2020 / Sunshine Biopharma Inc. (OTC PINK:SBFM), a pharmaceutical company focused on the research, development and
About this update from Sunshine Biopharma Inc.
[{"type":"text","content":"MONTREAL, QC / ACCESSWIRE / December 3, 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 paid off just over $100,000 worth of convertible notes associated with the Company. Our Board of Directors deemed this action to be a priority for the Company in order to mitigate dilutive conversions and maximize shareholder value.Sunshine Biopharma's CFO, Camille Sebaaly stated, \"We are pleased to have paid off this convertible debt within the required time frame and will continue to work towards our overall goal of growth from the operational side of the business.\" We always have our shareholders best interests in mind,\" he added.About Sunshine Biopharma's Coronavirus TreatmentSevere 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 1.4 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.About Sunshine BiopharmaIn 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...