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OncBioMune Signs Term Sheet to Acquire Vitel Laboratorios, S.A. de C.V.
OncBioMune Signs Term Sheet to Acquire Vitel Laboratorios, S.A. de C.V..
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[{"type":"text","content":"\nOncBioMune Signs Term Sheet to Acquire Vitel Laboratorios, S.A. de C.V.\n\nOncBioMune Signs Term Sheet to Acquire Vitel Laboratorios, S.A. de C.V.\n\nBATON ROUGE, LA--(Marketwired - November 03, 2016) - OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) (\"OncBioMune\"), a clinical stage biopharmaceutical company engaged in the development of novel cancer products and a proprietary vaccine technology, is pleased to announce that it signed a non-binding term sheet to acquire Vitel Laboratorios, S.A. de C.V. (\"Vitel\"), a revenue-stage Mexico-based pharmaceutical company that develops and commercializes high specialty drugs in Mexico and other Latin American countries. As previously disclosed, OncBioMune and Vitel are collaborating on a joint venture for the purpose of developing the OncBioMune pipeline for the Mexican and Latin American markets, beginning with ProscaVax, OncBioMune's novel therapeutic cancer vaccine for treating prostate cancer. Patient screening is currently underway in Mexico for a Phase 2/3 trial evaluating ProscaVax in PSA recurrent prostate cancer in hormone-naïve and hormone-independent patients. Vitel has a drug portfolio that includes 12 drug candidates licensed for the Mexican market. Late in the third quarter, Vitel commercialized Bekunis® for constipation and Cirkused® for stress, two over-the-counter products licensed from ROHA Arzneimittel GmbH. Upon closing the acquisition of Vitel, OncBioMune would immediately begin recognizing revenue from the sales of these products in Mexico.Vitel is actively working to next commercialize Vesanoid® (tretinoin), an oral retinoid anti-cancer chemotherapy drug, during the current quarter or early in the first quarter of 2017. Vesanoid has been approved by the Mexican government agency, the Federal Commission for the Protection against Sanitary Risk (COFEPRIS), for the treatment of Acute Promyelocytic Leukemia (APL), the M3 subtype of Acute Myelogenous Leukemia (AML). Vitel licensed Mexican marketing rights to Vesanoid from German-based Cheplapharm Arzneimittel GmbH. Also in Vitel's pipeline are KamRAB®, a human anti-rabies immune globulin therapy, and KamRHO®, a Rho (D) human immunoglobulin for the suppression of Rh immunization in Rho(D)-negative women delivering a Rho(D)-positive fetus or when the Rh type of fetus is unknown. Vitel ha...