Oncology Pharma Inc. announced the initiation of formal drug development and preclinical planning for its lead drug product, based upon proprietary nanoemulsion technology licensed from NanoSmart Pharmaceuticals. Oncology Pharma will be providing the initial funds to develop and evaluate a dactinomycin nanoemulsion drug product. A version of this product originally received FDA Orphan Drug Designation in 2015. Oncology Pharma has secured access to a broad range of proprietary intellectual property with the potential to make novel drug products to treat cancer that are both safer and more effective than the original drug(s) currently in the market. Oncology Pharma has initiated discussions with NanoSmart on near-term goals including analytical method validation and drug product characterization. Once complete, formal preclinical safety and veterinary clinical studies will be pursued. Veterinary drug development will serve a current and growing need for better treatment options. Data from this project may also be applied towards future regulatory approval to initial human clinical studies for the same drug formulation.