SOURCINGLINK.NET, INC. SAN FRANCISCO, CA, March 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – SourcingLink.net, Inc. (SNET), announced today that it entered into an exclusive worldwide licensing agreement with NanoSmart Pharmaceuticals, Inc. for the right to use NanoSmart’s nanoparticle platform technologies to develop and commercialize improved formulations of doxorubicin for the treatment of human cancers. The license includes access to one of NanoSmart's lead drug formulations, ANA- Conjugated Liposomal Doxorubicin, which has been previously granted Orphan Drug Designation by the US Food and Drug Administration. Under the terms of the agreement, NanoSmart will receive an upfront fee, restricted common shares of SNET stock, an annual maintenance fee, and a high single-digit royalty on net sales of formulations that incorporate NanoSmart's intellectual property.
SourcingLink.net stated, “We are pleased to have licensed the application of NanoSmart’s tumor-targeting technology to improve doxorubicin formulations. This is a significant extension of our oncology product portfolio to address the growing need for improved cancer therapies. We look forward to initiating nonclinical development, clinical trials, FDA submission, and commercialization of a tumor-targeting drug product and to explore combination with our proprietary liquid biopsy platform to potentially deliver personalized treatment paradigms that are safer and more effective than existing options.”
Doxorubicin is a well-established anthracycline chemotherapeutic drug used for treating a broad range of cancers such as ovarian, breast, bladder, Kaposi's sarcoma, lymphomas, thyroid, neuroblastoma and lung cancers. Commercializing a targeted doxorubicin formulation provides the opportunity to impact millions of cancer patients worldwide and to provide better therapy options for the growing global cancer population, including rare cancers with unmet needs. Dr. James Smith, President and CEO of NanoSmart Pharmaceuticals, stated “Our initial non-clinical testing on ANA-conjugated liposomal doxorubicin is very promising, and we believe that SNET’s involvement will enable the efficient commercialization of one of our lead candidate formulations and further validate the performance of our proprietary drug delivery platform technologies.”
About SourcingLink.net
SourcingLink.net, Inc. ("SNET") is a pioneering oncology company dedicated to developing , manufacturing and commercialization of therapeutics. SNET licensed Tulynode's patent pending Autologous Immuno-therapy for durable therapy response using an extracorporeal device. SourcingLink.net prides itself for having a world-class Advisory Board that keeps the Company leadership in the forefront of developing technologies in cancer research, biotechnology and healthcare. SourcingLink.net is currently engaging in research and development of therapeutics for oncology. SourcingLink.net is committed to its core corporate mission and values of highest U.S. Pharma Code of Conduct standards of behavior for being in compliance with the laws, regulations, company directives and guidance.
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:
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect", "believe" or "plan", by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
For additional Information, please contact at: One Sansome Street, Suite 3500 San Francisco, CA 94104 Phone: 415-869-1038 Fax: 415-946-8801 email: info@sourcinglink.net website: www.sourcinglink.net
