OncBioMune Pharmaceuticals, Inc. (OTCQB: OBMP) is engaged as a biopharmaceutical company, which primarily focuses on development immunotherapy and cancer vaccine technologies. Shares of the biopharmaceutical company climbed 44.55% during trading on Thursday, March 8, 2018. Over the past month, OncBioMune Pharmaceuticals, Inc. has seen average daily volume of 2.36 million shares. However, volume of 6.28 million shares or dollar volume of $91,688, had exchanged hands on the day.
Shares of OncBioMune Pharmaceuticals, Inc. rose on Thursday, after the company announced that it has selected Theradex as its contract research organization (CRO) for both of the company’s upcoming Phase 2 clinical trials for its ProscaVax drug in the treatment of prostate cancer. One clinical trial will take place at the Urology Centers of North Texas (UCNT) and the Harvard University teaching hospitals. Here is the full press release detailing of the preparations for the two upcoming clinical trials:
OncBioMune Pharmaceuticals, Inc. Press Release:
BATON ROUGE, La., March 08, 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 that the Company has selected Theradex as its contract research organization (CRO) for both the planned Phase 2 clinical trials evaluating the experimental immunotherapeutic vaccine ProscaVax for prostate cancer, one at Urology Centers of North Texas (UCNT) and the Harvard University teaching hospitals.
Theradex served as the CRO for the successfully completed Phase 1a trial of ProscaVax hosted at the University of California San Diego Moores Cancer Center and the Veterans Hospital in La Jolla, California.
In the UCNT trial, ProscaVax, the Company’s lead drug candidate 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), will be evaluated in a similar patient population as the Phase 1a trial, hormone-naïve and hormone-independent recurrent prostate cancer patients with increasing PSA. The Phase 2 study at the University will be the first mid-stage trial of its type that the Company is aware of, with ProscaVax being administered as a front-line treatment for patients in “active surveillance,” meaning they are in the early stage of disease, have received no treatment for their prostate cancer and are only working with their oncologist to monitoring the cancer for signs of progression.
“Experts in oncology and the clinical process, Theradex was invaluable to us in the initial trial of ProscaVax and we’re certain that their experience and guidance will again be of utmost importance in the planned mid-stage studies,” commented Dr. Jonathan Head, Chief Executive Officer at OncBioMune. “What we are trying to achieve by addressing prostate cancer at the earliest stage and in the most advanced stage is critically important to improving patient care in a cancer with very limited options across the disease spectrum. We look forward to working with Theradex again and to getting these studies underway.”
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About OncBioMune Pharmaceuticals, Inc.
OncBioMune Pharmaceuticals 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. A second Phase 2 study is being prepared to be hosted at Urology Centers of North Texas in prostate cancer patients with advanced disease that have failed other therapies. 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.
Forward-Looking Statements
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.
