Oncology Pharma Extends Licensing Agreement with NanoSmart Pharmaceuticals, Inc. for Veterinary Oncology
SAN FRANCISCO, CA, Feb. 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Oncology Pharma, Inc. (OTC: ONPH) is pleased to announce that it has extended a world-wide Licensing Agreement with NanoSmart Pharmaceuticals, Inc. for use in the growing Veterinary Oncology market.
Nanosmart possesses proprietary technology and intellectual property rights for the development of liposomal and/or emulsion-based drug formulations that incorporate anti-nuclear antibodies (ANA).
The global veterinary oncology market size was estimated at USD 199.9 million in 2019 and is anticipated to witness a Compound Annual Growth Rate (CAGR) of 10.7% over the next decade. A major driver of the market growth is the increasing prevalence of cancer in the pet population paired with the rising adoption of veterinary cancer therapy. Additionally, developed economies are spending more on animal healthcare due to pet owners’ rising willingness to spend on pet healthcare and government initiatives for veterinary cancer treatment.
ANA may be utilized as a targeting agent in pharmaceutical compounds to deliver active pharmaceutical ingredients to tumor sites, potentially resulting in safer and more effective cancer therapies. ANA-conjugated formulations like those licensed from NanoSmart present an opportunity to deliver better healthcare options for a growing and receptive market.
ABOUT ONCOLOGY PHARMA, INC.
ONCOLOGY PHARMA, INC. (OTCPK: 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.
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
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.
CONTACTS:
For additional information, please contact the Oncology Pharma at:
One Sansome Street, Suite 3500
San Francisco, CA 94104
Phone: 415-869-1038 Fax: 415-946-8801
Website: www.oncology-pharma.com
Email: info@oncology-pharma.com