BELLPORT, NY--(Marketwired - November 06, 2013) - Easton Pharmaceuticals (OTC: EAPH), a specialty pharmaceutical company that designs, develops, and markets an array of topically-delivered drugs and therapeutic healthcare products announced today It has purchased an initial 10 percent ownership interest in experimental cancer drug “XILIVE” From a private Canadian company and individual.
Easton Pharmaceuticals 10 percent cash purchase of “Xilive”, an early stage, experimental cancer drug was finalized after completing a conditional financing with an accredited non-affiliated investor with additional funds committed. The purchase agreement for “Xilive” provides the company with an exclusive option to purchase the remaining ownership interest, exercisable anytime over the next 12 month time period.
Xilive is a drug that was developed 7 years ago and utilized under compassionate grounds on two individuals suffering from various forms of advanced stage cancer. The first individual, age 57, suffering from Lymphoma was administered “Xilive” simultaneously with chemotherapy and previously given a 50/50 chance of survival by physicians. The second individual, in his mid 60’s, suffering from lung cancer was solely administered “Xilive” after being diagnosed and advised by physicians that the cancer was in its advanced stages where chemotherapy and surgery we’re no longer considered a viable medical treatment option. Both individuals have thus far reached and past the critical 5 years or more time period after being diagnosed and advised that their cancers were in remission. One of the individuals suffering from advanced stage lymphoma has been diagnosed cancer free for more than 5 years. Both individuals continue to willingly use “Xilive” as a maintenance and preventative treatment.
In Canada as well as in various states in the United States and most Western European countries, there exist laws that allow for patients diagnosed with terminal cancer or other types of terminal diseases to gain access to experimental drugs for compassionate reasons. Easton Pharmaceuticals and the current majority owner(s) and developers believe “Xilive” can be initially used for a fee under these conditions, which would be concurrent with any type of in-house safety and efficacy trials the company wishes to proceed with. Additional details to be announced.
Regardless of the positive outcomes, neither person was administered “Xilive” under the supervision of any specialized medical physicians. Both Easton Pharmaceuticals and the current majority owner(s) and developers of “Xilive” have not previously, nor are presently claiming “Xilive” positively treated the cancers of these individuals. There have not been any third party independent clinical trials or testing of any form to confirm “Xilive” positively treated and affected these individuals or will be of any future benefit to any other persons diagnosed with any form of cancer or condition who willfully agree to have “Xilive” administered to them as a possible treatment option. Other factors not presently known may have contributed to the dramatic un-expected positive reversal in condition(s).
It is the company’s intention to move forward to undertake in-house testing on pre selected cancer patients under the supervision of specialized independent medical physicians prior to formulating a strategy to move the drug to the next level of testing and clinical trials. In-house testing will also need to be finalized prior to any decisions on whether the company exercises its option to purchase any additional ownership interest in “Xilive”. Regardless of the amount, if any, the company chooses to additionally purchase of “Xilive”, the agreement calls for a 15 percent royalty to be paid to the current majority owner(s) should the drug eventually be proven as safe and effective and reach a stage where it will generate any amount of revenues. Additional news involving details on planned in-house trials and additional committed financing are expected to be announced shortly including the additions of new board members and consultants better specialized in being able to bring such a drug and any testing programs forward.
About Easton Pharmaceuticals Inc
Easton Pharmaceuticals is a specialty pharmaceutical company that designs, develops, and markets what it believes to be a premium array of topically-delivered Drugs and therapeutic healthcare products, focused on Cancer and other health issues related to male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company’s gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals product “VIORRA” is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a positive effect on women’s sexual desire and arousal, FSAD (Female Sexual Arousal Disorder) the world market for these female conditions are in excess of $2 billion. VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients.
For More Information Visit http://www.eastonpharma.com
Safe Harbor
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when used in the preceding of discussion, the words “pleased,” “plan,” “confident that,” “believe,” “expect,” “should”, expect”, “anticipate”, “intent to” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company’s products and technologies, competitive factors, the ability to successfully complete additional or adequate financing and other risks and uncertainties as stated in the company’s financial reports and filings which all investors are advised to view.
Help employers find you! Check out all the jobs and post your resume.
