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OncBioMune Pharmaceuticals Inc Signs MOU for Joint Venture With Vitel Laboratorios to Develop Novel Cancer Vaccine for Mexico and Latin America
OncBioMune Pharmaceuticals Inc Signs MOU for Joint Venture With Vitel Laboratorios to Develop Novel Cancer Vaccine for Mexico and Latin America.
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[{"type":"text","content":"\nOncBioMune Pharmaceuticals Inc Signs MOU for Joint Venture With Vitel Laboratorios to Develop Novel Cancer Vaccine for Mexico and Latin America \n\nOncBioMune Pharmaceuticals Inc Signs MOU for Joint Venture With Vitel Laboratorios to Develop Novel Cancer Vaccine for Mexico and Latin America\n\n\n BATON ROUGE, LA --(Marketwired - March 29, 2016) - OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) (\"OncBioMune\" or the \"Company\"), a clinical stage biopharmaceutical company engaged in the development of novel cancer products and a proprietary vaccine technology, is pleased to inform shareholders that the Company has signed a Memorandum of Understanding (\"MOU\") with Vitel Laboratorios S.A. de C.V. for the purpose of establishing a Joint Venture (\"JV\"), to be named OncBioMune Mexico S.A. de C.V. (\"OncBioMune Mexico\"), to develop and commercialize OncBioMune's portfolio of innovative cancer therapies in Mexico and Latin America. The initial focus of the JV will be immediately advancing ProscaVax, OncBioMune's novel prostate cancer vaccine combining a tumor-associated antigen with biological adjuvants, into a Phase 2A/2B clinical trial in Mexico. The planned 100-patient clinical trial will be structured as a two-stage study of ProscaVax (PSA/IL-2/GM-CSF) for the treatment of PSA recurrent prostate cancer in hormone-naïve and hormone-independent patients. The trial is expected to last 36 months. Should preliminary data from the study show efficacy, a Preliminary Marketing Authorization will be pursued to commercialize ProscaVax in Mexico, which has the potential to happen in as little as 24 months from the commencement of the Phase 2A/2B study.In the United States, ProscaVax is currently in a Phase 1 clinical trial for relapsed prostate cancer patients and scheduled for a Phase 2 clinical trial for prostate cancer patients at disease presentation at a preeminent cancer institution in the Northeast United States later in 2016. In addition to the Phase 2A/2B trial in Mexico under the direction of OncBioMune Mexico, these trials will continue as planned under the direction of OncBioMune Pharmaceuticals.\"This partnership with Vitel is an outstanding opportunity for us to widen our pipeline, contain clinical trial expenses and expedite the development of ProscaVax with the goal of commercialization into...