Sunshine Biopharma, Inc. (OTCMKTS:SBFM), better known for its diversified offerings related to research, development and commercialization of cancer drugs, announced that it had acquired patents of Adva-27a.
As per the reports, the company doesn’t want to leave any stone unturned when it comes to making available Adva-27a. It’s the primary reason that prompted it to acquire all the remaining titles, rights, and interests related to Adva-27a anticancer compound.
Now that Sunshine has executed this transaction, it can claim the direct ownership of all the pending and issued Adva-27a related patents, including worldwide rights to this property without any second thought. Before executing this transaction, the company had ownership of Adva-27a patents only in United States.
Reports claim that the company paid around $12,822,499 to acquire all the patents worldwide. This price is supposed to be paid in the form of quarterly payments of interest and principal. The payment will continue until December 2020 as per the terms of a secured promissory note issued by the company.
Not long ago, it announced that the manufacturing sample of Adva-27a had been analyzed successfully. The results of this analysis were good enough to ensure that Adva-27a met all the biological specifications. It further paved the way to manufacture 2-kilogram quantity necessary for various clinical trials.
The senior management of the company was delighted to announce this update and hoped that it would help the company touching newer heights in the coming months. According to Dr. Steve N. Slilaty, CEO & President, Sunshine Biopharma, it’s a significant milestone for the company. There’s an urgent need for solutions like this, and the successful analysis of Adva-27a will open new doors for further developments in the coming months.
Sunshine Biopharma has faced its share of market challenges lately; however, continued developments like this have helped the company come over these issues and achieve newer heights. It will keep all the shareholders updated from time to time about further steps taken to make Adva-27a an enormous success.