SourcingLink.net Enters into an Exclusive Worldwide Licensing Agreement with NanoSmart Pharmaceuticals
March 25 2019 - 7:43AM
InvestorsHub NewsWire
SourcingLink.net Enters into an Exclusive Worldwide Licensing
Agreement with NanoSmart Pharmaceuticals for Anti-Nuclear Antibody
(ANA)-Targeted Doxorubicin Formulations to Treat Cancer
SAN FRANCISCO, CA -- March 25, 2019 -- InvestorsHub NewsWire --
SourcingLink.net, Inc. (SNET), announced today that it entered into
an exclusive worldwide licensing agreement with NanoSmart
Pharmaceuticals, Inc. for the right to use NanoSmart’s nanoparticle
platform technologies to develop and commercialize improved
formulations of doxorubicin for the treatment of human cancers. The
license includes access to one of NanoSmart's lead drug
formulations, ANA- Conjugated Liposomal Doxorubicin, which has been
previously granted Orphan Drug Designation by the US Food and Drug
Administration. Under the terms of the agreement, NanoSmart will
receive an upfront fee, restricted common shares of SNET stock, an
annual maintenance fee, and a high single-digit royalty on net
sales of formulations that incorporate NanoSmart's intellectual
property.
SourcingLink.net stated, “We are pleased to have licensed the
application of NanoSmart’s tumor-targeting technology to improve
doxorubicin formulations. This is a significant extension of our
oncology product portfolio to address the growing need for improved
cancer therapies. We look forward to initiating nonclinical
development, clinical trials, FDA submission, and commercialization
of a tumor-targeting drug product and to explore combination with
our proprietary liquid biopsy platform to potentially deliver
personalized treatment paradigms that are safer and more effective
than existing options.”
Doxorubicin is a well-established anthracycline chemotherapeutic
drug used for treating a broad range of cancers such as ovarian,
breast, bladder, Kaposi's sarcoma, lymphomas, thyroid,
neuroblastoma and lung cancers. Commercializing a targeted
doxorubicin formulation provides the opportunity to impact millions
of cancer patients worldwide and to provide better therapy options
for the growing global cancer population, including rare cancers
with unmet needs. Dr. James Smith, President and CEO of NanoSmart
Pharmaceuticals, stated “Our initial non-clinical testing on
ANA-conjugated liposomal doxorubicin is very promising, and we
believe that SNET’s involvement will enable the efficient
commercialization of one of our lead candidate formulations and
further validate the performance of our proprietary drug delivery
platform technologies.”
About SourcingLink.net
SourcingLink.net, Inc. ("SNET") is a pioneering oncology
company dedicated to developing , manufacturing and
commercialization of therapeutics. SNET licensed Tulynode's patent
pending Autologous Immuno-therapy for durable therapy response
using an extracorporeal device.
SourcingLink.net prides itself for having a world-class
Advisory Board that keeps the Company leadership in the forefront
of developing technologies in cancer research, biotechnology
and healthcare. SourcingLink.net is currently engaging in
research and development of therapeutics for oncology.
SourcingLink.net is committed to its core corporate mission
and values of highest U.S. Pharma Code of Conduct standards of
behavior for being in compliance with the laws, regulations,
company directives and guidance.
About NanoSmart Pharmaceuticals, Inc.
NanoSmart® Pharmaceuticals is a privately-held California
corporation that is developing nanoparticle drug delivery platforms
that utilize anti-nuclear antibody (ANA) to target existing drug
therapies to areas of necrosis present in virtually all solid
cancer tumors.
Forward-looking Statements:
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements, which contain words such as
"expect", "believe" or "plan", by their nature address matters that
are, to different degrees, uncertain. These uncertainties may
cause actual future events to be materially different than those
expressed in our forward-looking statements. We do not
undertake to update our forward-looking statements.
For additional Information, please contact at:
One Sansome Street, Suite 3500
San Francisco, CA 94104
Phone: 415-869-1038
Fax: 415-946-8801
email: info@sourcinglink.net
website: www.sourcinglink.net