MONTREAL, QC--(Marketwired - July 29, 2014) - Sunshine Biopharma Inc. (OTCQB: SBFM), a pharmaceutical company focused on the research, development and commercialization of drugs for the treatment of various forms of cancer, today announced that it has formed Sunshine Biopharma Canada Inc., a Canadian wholly owned subsidiary for the purposes of conducting pharmaceutical business in Canada and elsewhere around the globe. Sunshine Biopharma anticipates that Sunshine Biopharma Canada will soon sign manufacturing, marketing, sales and distribution contracts for various pharmaceutical and biomedical products. According to various estimates, the worldwide market for generic pharmaceuticals which Sunshine Biopharma Canada is positioning itself to participate in is in excess of $100 billion per year.
"This is a very important development for our Company as it broadens our business scope and provides us with the opportunity to generate revenues in the near to mid-term," said Dr. Steve N. Slilaty, CEO of Sunshine Biopharma. "In addition to revenue generation, Sunshine Biopharma Canada will be well positioned for the marketing and distribution of Adva-27a, Sunshine Biopharma's flagship oncology drug candidate currently being developed for the treatment of Pancreatic Cancer and Multidrug Resistant Breast Cancer."
Adva-27a is Sunshine Biopharma's lead anticancer compound, a small molecule that has recently been shown to be effective at killing Multidrug Resistant Breast Cancer cells, Small-Cell Lung Cancer cells, Uterine Sarcoma cells and Pancreatic Cancer cells (Published in ANTICANCER RESEARCH, Volume 32, Pages 4423-4432, October 2012). Adva-27a is currently in the IND-Enabling stage of development. The original U.S. patent covering Adva-27a was issued on August 7, 2012 under U.S. patent number 8,236,935. The Company is planning a Phase I clinical trial of Adva-27a for Pancreatic Cancer in parallel to the Phase I clinical trial of Adva-27a for multidrug resistant Breast Cancer to be conducted at McGill University's Jewish General Hospital in Montreal (Canada).
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