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Ø $2 Million Financing in Place to Support
Anti-Coronavirus Program.
Sunshine
Biopharma (OTC: SBFM) is a pharmaceutical company focused on the
research, development, and commercialization of oncology and antiviral drugs.
In addition, SBFM is engaged in the development and commercialization of
science-based nutritional supplements and is also currently engaged in the
development of a new pharmaceutical to treat infections of the Covid-19
Coronavirus.
Since
inception, SBFM has been involved in the development of Adva-27a, a
small molecule that has been shown to be exceptionally effective at destroying
Multidrug Resistant Cancer Cells, including Pancreatic Cancer cells (Panc-1),
Small-Cell Lung Cancer cells (H69AR), Breast Cancer cells (MCF-7/MDR) and
Uterine Sarcoma cells (MES-SA/Dx5). SBFM is a direct owner of all
worldwide patents covering Adva-27a, including all issued and pending patents.
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On
November 18th SBFM announced a collaboration agreement with a
Montreal-based company for the purposes of advancing the development of the SBFM
anticancer compound, Adva-27a. The goal of this collaboration is to develop
and implement chemical synthesis procedures for Adva-27a and test the resulting
material in various types of cancer cells grown in culture. Based on the cell
culture results, the SBFM drug development partner will conduct mice
studies in preparation for entry of Adva-27a into clinical trials. It is
anticipated that the clinical trials will be for Stage IV pancreatic cancer
indication and will be performed at McGill University's Jewish General Hospital
in Montreal, Canada.
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On
November 10th SBFM announced an agreement with JOAH
International Pte., Ltd., headquartered in Singapore, for distribution of
Essential-9tm in Asia and the Far East. The SBFM Essential-9tm is a
nutritional supplement tablet comprised of a balanced formula of the 9
essential amino acids that the human body cannot make. Essential-9tm is
authorized for marketing by Health Canada under NPN 80089663.
Essential
Amino Acids are 9 out of the 20 amino acids required for protein synthesis.
Proteins are involved in all body functions - From the musculature and immune
system to hormones and neurotransmitters. Like vitamins, Essential Amino Acids
cannot be made by the human body and must be obtained through diet. Deficiency
in one or more of the 9 Essential Amino Acids can lead to loss of muscle mass,
chronic fatigue, weight gain, and weakened immune system. The SBFM Essential-9TM
provides a balanced formula of all 9 Essential Amino Acids in free-form, ready
to be absorbed. Essential-9tm is suitable for everyone: Vegans, Seniors,
Dieters, Athletes, and everyone looking to increase their health. In North
America, Essential-9tm is available on Amazon.com and Amazon.ca.
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On
October 19th SBFM announced an agreement with the University
of Georgia to advance the development of the company’s recently announced
Anti-Coronavirus lead compound, SBFM-PL4. The goal of this cutting-edge
collaboration is to develop SBFM-PL4, a protease inhibitor, as a treatment for
Coronavirus infections. This new treatment is based on the technology described
in recently filed SBFM patent application covering small molecules which
can be used to treat Coronavirus infections. Sunshine's SBFM-PL4, will be put
through a series of in vitro tests to evaluate its specific inhibitory activity
against the SARS-CoV-2 papain-like protease (PLpro), one of two Coronavirus
encoded proteases essential for viral replication. Following the initial in
vitro studies, SBFM-PL4 will be moved forward to the cell culture testing stage
and assessment in Coronavirus infected mice before entering human clinical
trials.
Severe
Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent of
COVID-19, the current pandemic. There are currently no drugs that can
effectively arrest replication of the virus in people who have contracted the
illness. On May 22nd SBFM filed a provisional patent application for a
library of molecules which were designed to inhibit the Coronavirus proteases,
thus shutting down the ability of the virus to multiply and cause illness.
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On
September 15th SBFM announced that it has received the first
tranche of $250,000 as part of a committed minimum financing of $2 Million with
RB Capital Partners Inc. Under the agreement RB Capital has agreed to provide
funding to SBFM in the form of convertible promissory notes (the
"Promissory Notes"). The Promissory Notes will bear interest at the
rate of 5% per annum and will be fully convertible into shares of the Company's
Common Stock at a conversion price equal to the market value on the applicable
conversion date or $0.30 per share, whichever is greater. The Promissory Notes
will have a maturity date of two years from the date of issuance and must be
fully converted on or before the maturity date. SBFM reserves the right
to pay off any part or all of the Promissory Notes at any time without penalty.
The minimum amount of funding that RB Capital has agreed to provide to SBFM
under these terms is $2,000,000, payable over the next three to six month
period.
The
proceeds will be used for development of the SBFM Coronavirus treatment
on a priority basis and the clinical development of Adva-27a, the Company's
flagship anticancer compound targeted for pancreatic cancer.
For
more information on Sunshine Biopharma (OTC: SBFM) visit: http://www.sunshinebiopharma.com
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