Sun BioPharma Adopts OTCPink Symbol SNBP
MINNEAPOLIS, MN--(Marketwired - September 09, 2015) - Sun BioPharma, Inc. (OTC PINK: SNBP), with its primary focus as a biopharmaceutical company developing therapies for the treatment of pancreatic cancer, is quoted on the OTCPink market under the symbol SNBP. The Company's lead development candidate SBP-101 is expected to begin a Phase 1 clinical trial by the end of the year.
"The FDA's recent grant of Investigational New Drug (IND) status for SBP-101 positions Sun to create value for our shareholders," commented Michael T. Cullen, MD, Executive Chairman. "We have gained access to the public markets to fund the development of our therapies for the treatment of pancreatic cancer. In the near future we expect to build our senior management team as well as increase the number of independent members of our board of directors while SBP-101 begins its Phase 1 clinical trial."
Sun BioPharma's drug development activities are initially focused on the polyamine analogue compound the Company has licensed from The University of Florida Research Foundation. SBP-101 is a first-in-class proprietary polyamine compound designed to exert a pancreatic specific therapeutic effect. In August 2015, the FDA granted IND status to SBP-101. As a result, a Phase 1 clinical study of SBP-101 to treat pancreatic ductal adenocarcinoma (PDA), the most common form of pancreatic cancer, is expected to begin in Australia prior to the end of the year and in the United States during the first quarter of 2016.
About Sun BioPharma
Sun BioPharma, Inc. is a next-generation biopharmaceutical company focused on developing disruptive therapeutics for serious unmet medical needs. The company's initial programs are aimed at diseases of the pancreas, including pancreatitis and pancreatic cancer. Sun has scientific collaborations with pancreatic disease experts at The Ohio State University, the Fred Hutchinson Cancer Center in Seattle, Translational Genomics (TGen) in Scottsdale, AZ, Cedars Sinai Medical Center in Los Angeles, the University of Minnesota, the Austin Health Cancer Trials Centre and the Box Hill Hospital in Melbourne, Australia and the Ashford Cancer Centre in Adelaide, Australia. Further information can be found at: www.sunbiopharma.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "expect," "future," "may," "plan," "scheduled," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements the Company makes regarding timing of clinical trials, anticipated additions to management and board composition, potential additional financing, and strategies for creating shareholder value. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations and assumptions regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, risks inherent in the development and commercialization of potential products, uncertainty in the timing and results of clinical trials or regulatory approvals, material changes in the regulatory environment in which the Company must operate, need and ability to obtain future capital, maintenance of intellectual property rights, and the Company's limited operating history in its current corporate structure.
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