OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) is engaged within the research and development of cancer therapies and treatments. Shares of the cancer treatment developer are jumping 43.31%, through early trading on Monday, February 5, 2018. Over the past month, OncBioMune Pharmaceuticals, Inc. has seen average daily volume of 1.03 million shares. However, volume of 2.8 million shares or dollar volume of $63,000, has already exchanged hands on the day.
Shares of OncBioMune Pharmaceuticals, Inc. are jumping today, after the company announced that it has signed a Letter of Intent with the Urology Clinics of North Texas (UCNT) to initiate the Phase 2 clinical trials for ProscaVax and the advanced treatment of prostate cancer. The company expects to have more information on the clinical trial collaboration within the coming weeks. Here is the full press release detailing of the Phase 2 clinical trials LOI:
BATON ROUGE, La., Feb. 05, 2018 (GLOBE NEWSWIRE) — OncBioMune Pharmaceuticals, Inc. (OTCQB:OBMP) (“OncBioMune” or the “Company”), a clinical-stage biopharmaceutical company engaged in the development of a proprietary immunotherapy cancer vaccine technology and targeted cancer therapies, is pleased to announce the signing of a Letter of Intent with Urology Clinics of North Texas (UCNT) for the purpose of initiating a Phase 2 Clinical Trial of ProscaVax in advanced prostate cancer patients. ProscaVax is OncBioMune’s novel immunotherapeutic cancer vaccine consisting of a combination of prostate cancer associated prostate specific antigen (PSA) with the biological adjuvants interleukin-2 (IL-2) and granulocyte-macrophage colony-stimulating factor (GM-CSF).
Dr. James S. Cochran, M.D., D.A.B.U., F.A.C.S., UCNT Medical Director, has agreed to serve as the trial’s Principal Investigator. Dr. Cochran has over 30 years of clinical practice experience and has participated in and provided oversight in more than 300 clinical trials.
“Ever since I learned of ProscaVax, I have been highly interested in its potential benefit to the thousands of prostate cancer patients with late-stage disease that face a bleak prognosis with negligible therapeutic options,” commented Dr. Cochran. “Now that I have reviewed the data from the Phase 1 Clinical Trial, I believe this immunotherapy has the potential to be a game-changer in urology. I am extremely eager to move this trial forward expeditiously to address an area of great unmet medical need.”
UCNT is an award-winning organization servicing the Dallas Metroplex area, the fifth most populous area in North America with approximately 6.5 million people in 13 counties. The organization is comprised of 16 private urology practices and over 40 providers with approximately half a million patients in their database.
“We could not be more pleased that Dr. Cochran and the esteemed prostate cancer experts at UCNT have such a strong desire to be a part of the clinical development of ProscaVax; it truly speaks highly of the vaccine’s potential,” said Dr. Jonathan Head, Chief Executive Officer at OncBioMune. “Given their decades of experience and robust patient population, we expect the mid-stage study to go very smoothly, with no enrollment competition whatsoever, which should allow the trial to progress quickly. The study will be a great complement to our planned study at a major Northeast university in early-stage prostate cancer patients, for which we anticipate reporting news on commencing that trial as well in the near term.”
OncBioMune will release more details on the trial in collaboration with UCNT as they become available in the coming weeks.
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About OncBioMune Pharmaceuticals, Inc.
OncBioMune Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, based on their proprietary vaccine technology designed to stimulate the immune system to attack tumor cells without damaging healthy tissue. Our lead pipeline product, ProscaVax™, has successfully completed enrollment and vaccination of the prostate cancer patients and is collecting long-term follow-up results for the 1a portion of their Phase 1a/1b clinical trial. Due to the impressive results and proven safety profile of ProscaVax™, OncBioMune is forgoing the 1b portion of the trial to advance ProscaVax™ into Phase 2 studies. A Phase 2 trial is scheduled to commence at a major Northeast U.S. university cancer research hospital evaluating ProscaVax as a front-line therapy in prostate cancer patients in the “active surveillance” category, representing the first mid-stage trial of an immunotherapeutic vaccine in this patient population. OncBioMune also has a portfolio of targeted therapies, some of which are biosimilars and generics to blockbuster drugs. OncBioMune is headquartered in Baton Rouge, LA.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause OncBioMune Pharmaceuticals’ actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. OncBioMune Pharmaceuticals has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are OncBioMune Pharmaceuticals’ need for, and the availability of, substantial capital in the future to fund its operations and research and development; the fact that OncBioMune Pharmaceutical’s vaccines and therapeutics may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in OncBioMune Pharmaceutical’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. OncBioMune Pharmaceuticals undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.