Ft Lauderdale FL July 29, 2014 – Jin-En International Group Holding Co. (“Jin-en” or “the Company”) (PINK.BB: JINZ), is pleased to announce the acquisition 100% of the outstanding shares of Nascent Biologics, a Nevada corporation (“NBI”). As part of the acquisition, the Company has agreed to change its name to Nascent Biotech Inc. and plans on applying to FINRA for a change in the ticker symbol. The acquisition is a change in control and Jin-En’s previous business operations has been assigned to certain shareholders of Jin-En in exchange for the return of certain shares of the Company’s previously issued shares.
NBI is a biotechnology company developing human Monoclonal Antibodies (mAb’s) for immunotherapy of cancer. “NBI has developed a monoclonal antibody with the potential to treat a broad spectrum of cancer types,” stated Mark Glassy, the new President and CEO of Jin-En. Glassy further states, ”Pritumumab recognizes a unique, target not being explored by other biotech companies and the therapy has been safely utilized in 249 human brain cancer patients in Japan. The Company will pursue malignant brain tumors as an initial indication”
About Nascent Biotech Inc.:
NBI is a biotechnology company developing human Monoclonal Antibodies (mAb’s) for immunotherapy of cancer. Its lead therapeutic candidate, Pritumumab, was the first human antibody ever developed to treat a cancer patient and has been validated in 249 patients in Japan. The company is now developing a new clinical protocol and Initial New Drug (IND) package for commencement of new clinical trials to be conducted in the United States under the guidance of the US Food and Drug Administration (FDA).
This news release contains “forward-looking statements” as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. We assume no obligation to update the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
Nascent Biotech Inc
Lowell Holden, CFO
Phone: (612) 961-5656
Fax: (612) 486-7055