Nascent Biotech, Inc. announced that the Company and China based BioRay Pharmaceutical Co have mutually agreed to terminate the license agreement entered into on March 31, 2021.
NORTH PALM BEACH, FL / ACCESSWIRE / May 26, 2023 / Nascent Biotech, Inc. (OTCQB:NBIO) (“Nascent Biotech”, “Nascent”, or the “Company”), a clinical-stage biotechnology Company whose business is focused in therapeutic monoclonal antibody space, announced today that the Company and China based BioRay Pharmaceutical Co have mutually agreed to terminate the license agreement entered into on March 31, 2021. Nascent gains back worldwide marketing and distribution rights previously licensed to BioRay. Management concludes with gaining back the worldwide rights, the company is in a stronger position going forward.
About Nascent Biotech
Nascent Biotech, Inc. (OTCQB:NBIO) is a clinical-stage biotech company pioneering the development of human monoclonal antibodies to be used in the treatment of various cancers and viral infections, helping people worldwide. Its products are not yet commercially available. The Company’s lead candidate, Pritumumab (PTB), is a human monoclonal Antibody (Mab) that is progressing to Phase 2 clinical trials for the treatment of Brain Cancer.
For further information please visit our website www.nascentbiotech.com.
Forward-Looking Safe Harbor Statement
Statements in this press release about our future expectations constitute ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, Nascent Biotech Inc’s ability to target the medical professionals; Nascent Biotech Inc’s ability to raise capital; as well as other risks. Additional information about these and other factors may be described in the Nascent Biotech Inc’s Form 10, filed on May 2, 2015, and future subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Corporate Contact
Lowell Holden
CFO | Nascent Biotech
Lowell.holden@nascentbiotech.com
SOURCE: Nascent Biotech Inc.
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