Provectus Biopharmaceuticals, Sinopharm-China State Institute of Pharmaceutical Industry & Sinopharm A-Think Pharmaceutical C...
July 15 2015 - 5:33PM
Business Wire
Provectus Biopharmaceuticals, Inc. (NYSE MKT: PVCT,
http://www.pvct.com), a clinical-stage oncology and dermatology
biopharmaceutical company (“Provectus” or the “Company”), announced
that it continues to work with Sinopharm-China State Institute of
Pharmaceutical Industry and Sinopharm A-Think Pharmaceutical Co.,
Ltd to reach an agreement on PV-10 use in China.
Discussions continue with the frame of reference established in
the original Memorandum of Understanding, or MOU, signed last year
and extended since the passing of the original deadline. The
original MOU was signed in August 2014, and, since then, the
parties have sought to enter into a definitive licensing agreement,
subject to additional negotiation, due diligence, and any required
regulatory and corporate approvals.
Since the signing of the MOU, management of Provectus and senior
personnel at Sinopharm-CSIPI and Sinopharm A-THINK have held
numerous conference calls, have met face-to-face in both China and
the US, and Chinese scientists on staff at Sinopharm have discussed
in person PV-10 and its clinical results with the lead
investigators at St. Luke's University Hospital and Health Network
and Moffitt Cancer Center.
Dr. Zhidan Jia , Chief Executive Officer of
Sinopharm A-THINK, stated, "We continue to work closely with
Provectus to arrive at an agreement which defines the terms of our
collaboration in bringing PV-10 to the Chinese Market. We hope to
come to terms in the near future.”
About Provectus Biopharmaceuticals, Inc.
Provectus Biopharmaceuticals, Inc., specializes in developing
oncology and dermatology therapies. PV-10, its novel
investigational drug for cancer, is designed for injection into
solid tumors (intralesional administration), thereby reducing
potential for systemic side effects. Its oncology focus is on
melanoma, breast cancer and cancers of the liver. The Company has
received orphan drug designations from the FDA for its melanoma and
hepatocellular carcinoma indications. PH-10, its topical
investigational drug for dermatology, is undergoing clinical
testing for psoriasis and atopic dermatitis. Provectus has
completed phase 2 trials of PV-10 as a therapy for metastatic
melanoma, and of PH-10 as a topical treatment for atopic dermatitis
and psoriasis. Information about these and the Company’s other
clinical trials, including its current phase 3 study in melanoma,
can be found at the NIH registry, www.clinicaltrials.gov. For
additional information about Provectus, please visit the Company’s
website at www.pvct.com or contact Porter, LeVay & Rose,
Inc.
FORWARD-LOOKING STATEMENTS: This release contains
"forward-looking statements" as defined under U.S. federal
securities laws. These statements reflect management's current
knowledge, assumptions, beliefs, estimates, and expectations and
express management's current views of future performance, results,
and trends and may be identified by their use of terms such as
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "will," and other similar
terms. Forward-looking statements are subject to a number of risks
and uncertainties that could cause our actual results to materially
differ from those described in the forward-looking statements.
Readers should not place undue reliance on forward-looking
statements. Such statements are made as of the date hereof, and we
undertake no obligation to update such statements after this
date.
Risks and uncertainties that could cause our actual results to
materially differ from those described in forward-looking
statements include those discussed in our filings with the
Securities and Exchange Commission (including those described in
Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2014) and the following:
- our determination, based on guidance
from the FDA, whether to proceed with or without a partner with the
fully enrolled phase 3 trial of PV-10 to treat locally advanced
cutaneous melanoma and the costs associated with such a trial if it
is necessary to complete (versus interim data alone);
- our determination whether to license
PV-10, our melanoma drug product candidate, and other solid tumors
such as cancers of the liver, if such licensure is appropriate
considering the timing and structure of such a license, or to
commercialize PV-10 on our own to treat melanoma and other solid
tumors such as cancers of the liver;
- our ability to license our dermatology
drug product candidate, PH-10, on the basis of our phase 2 atopic
dermatitis and psoriasis results, which are in the process of being
further developed in conjunction with mechanism of action studies;
and
- our ability to raise additional capital
if we determine to commercialize PV-10 and/or PH-10 on our own,
although our expectation is to be acquired by a prospective
pharmaceutical or biotech concern prior to commercialization.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150715006637/en/
Provectus Biopharmaceuticals, Inc.Peter R. Culpepper, CFO,
COOPhone: 866-594-5999 #30orPorter, LeVay & Rose, Inc.Marlon
Nurse, DM, SVP – Investor Relations212-564-4700orTodd Aydelotte –
Media Relations646-428-0644
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