SAN FRANCISCO, CA / ACCESSWIRE / September 13, 2021 / Oncology Pharma, Inc. (OTC PINK:ONPH). In keeping with management's commitment to continue implementation of Oncology Pharma's ("the Company") capital formation plan, the Company has obtained, received and segregated all funds necessary to execute the first phase of the development project of a nanoemulsion of dactinomycin, with the initial tranche released as scheduled.
Management of Oncology Pharma felt it was important to select an experienced team for this process. We are confident in the team that is conducting this initial phase, as they have vast experience in drug development. The team is made up of individuals that have a specialty in biotech, pre-clinical development and regulatory approval of numerous novel medical devices and pharmaceutical products. They are experts in implementing highly effective corporate culture and quality management infrastructure compliant with US FDA and ISO regulations. The team has further developed and implemented ISO (International Organization for Standardization), GMP (Good Manufacturing Practices) and GLP (Good Laboratory Practices) quality systems. Managed regulatory applications for various medical product manufacturers (510(K), PMA IND/IDE, etc.).
The primary goal is to bring new pharmaceutical drug formulations to market with a focused approach that aims to reduce overall costs and time to commercialization. The first step will be to formulate an existing FDA-approved active pharmaceutical ingredient (dactinomycin) inside a nanoemulsion formulation. The next step will involve assessing the lead drug formulation in nonclinical pharmacokinetic and toxicokinetic safety studies. This is to determine if the nanoemulsion formulation is safer than the free drug alone. With data accumulated demonstrating a safer drug, the Investigational New Drug application will be submitted to the US FDA, seeking permission to move into human clinical trials.
ABOUT ONCOLOGY PHARMA, INC.
ONCOLOGY PHARMA, INC. (OTC PINK:ONPH) (the 'Company') is currently engaging in research and development of therapeutics for oncology and prides itself for having a world-class Advisory Board that keeps the Company in the forefront of developing technologies in cancer research, biotechnology, and healthcare.
FORWARD LOOKING STATEMENTS
Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include risks related to licensing arrangements and joint ventures, including the need to negotiate the definitive agreements for the relationships; possible failure to realize anticipated benefits of business relationships, and costs of providing funding to these business relationships. Other risks and uncertainties relating to the Company include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners and with any strategic or joint venture partners; the impact of competition; the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; management of growth; and, other risks and uncertainties. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position.
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SOURCE: Oncology Pharma Inc.