Panacea Global Attains the Option to Purchase Majority Rights to the HAAH-Based Blood Test for the U.S. Market
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/27/15 -- Panacea Global, Inc. ("Panacea") (OTCBB: PANG) a biotechnology company focused on the discovery, development and commercialization of diagnostic products for the management of cancer, has recently acquired an option to purchase majority stake of the company that owns the rights to the U.S. market for HAAH-based blood test originally developed by Panacea Pharmaceuticals, Inc.
Panacea Global previously owned the rights to the HAAH-based blood test for the detection of cancer in all global markets excluding the United States of America. With this recent agreement Panacea Global now has the option to purchase 51% of the company that exclusively owns the rights to the same technology for the US market for the purchase price of $5.1 million. This option provides Panacea Global majority controlling stake in what is estimated to be 10% of the global market size of its technology.
"This transaction not only provides Panacea Global with global exclusivity of this novel technology, but also enables this technology to be accessible to our shareholders majority of whom are in the USA" stated Dr. Mahmood Moshiri, President and CEO Panacea Global.
About Panacea Global
Panacea Global is a biotechnology company focused on the development and commercialization of diagnostic products for the management of cancer. Panacea has developed an accurate, timely, cost effective and non-invasive early cancer detection test to increase the quality of life of cancer patients and ultimately saving lives. Panacea''s test is based on the detection of the human aspartyl (asparaginyl) beta-hydroxylase (HAAH), a novel biomarker expressed in malignant cancer cells in patients'' blood samples. Panacea Global has the exclusive worldwide (excluding the USA) rights to HAAH-based cancer tests. More information about Panacea Global (OTCBB: PANG) is available at .
Forward-looking statements
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management''s good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company''s control. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
Contacts:
Company Contact:
Dr. Mahmood Moshiri
+1-416-450-6414
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Datum: 27.05.2015 - 11:01 Uhr
Sprache: Deutsch
News-ID 1361720
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Kategorie:
Surgery & Treatments
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