San Diego, CA, May 12, 2020—Nascent Biotech, Inc (OTCQB: NBIO), a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat cancers and viral infections, and Manhattan BioSolutions, Inc., a biotechnology company focused on the discovery of the next-generation therapies for the treatment of cancer and inflammatory diseases, today announced they have entered into a Research Collaboration Agreement to initiate a vaccine program for the potential prevention of COVID-19 or other viral infections. This effort will augment Nascent’s current development plants to investigate the utility of Pritumumab for the treatment of COVID-19 that was announced earlier in March.
Dr. Boris Shor, Chief Executive Office, Manhattan BioSolutions, commented “Manhattan BioSolutions has a longstanding commitment to advance the basic research of immunotherapies and we are excited to be working with Nascent Biotech on constructing a vaccine to prevent COVID-19 around the world. Our novel platform will employ a recombinant Bacillus Calmette-Guerin (rBCG), genetically engineered to express selected SARS-CoV-2 proteins. BCG is a live non-pathogenic bacterium that stimulates diverse innate and adaptive immune responses and is well-known for its long safety track record as a tuberculosis vaccine. Based on our preclinical experience with the rBCG candidates for oncology indications, we expect that rBCG against SARS-CoV-2 will be possible to develop. Together, we will be in a strong position to advance the discovery and development of an innovative vaccination platform against coronaviruses.”
BCG is a well-validated treatment modality used for early-stage bladder cancer as well as the vaccine against tuberculosis. BCG vaccination has been also shown to produce positive “heterologous” immune effects leading to improved response against other infections. Its utility for the treatment or prevention of other diseases is only beginning to emerge. If successful it will ensure that people across the world, especially in emerging countries, will be protected from COVID-19 and other emerging health threats.
Nascent’s Scientific Advisory Board Chair, Dr. Mark Glassy, said, “This collaboration strengthens the infectious disease business platform and provides Nascent with two strong disease research platforms.”
“We go into this agreement with heightened optimism that we can build shareholder value while researching a treatment platform for COVID-19 and other devastating viral infections. We will soon begin a human clinical study for Brain Cancer with Pritumumab while expanding research through Manhattan BioSolutions into COVID-19”, said Nascent CEO Sean Carrick.
Under the terms of the agreement, Manhattan BioSolutions will receive up to $200,000, consisting of $100,000 initial payment through an equity transaction to advance the research and development of their recombinant BCG vaccine for the potential prevention of COVID-19 or other emerging coronavirus infections.
About Nascent Biotech
Nascent Biotech, Inc. (OTCQB: NBIO) is a clinical-stage biotech company pioneering the development of monoclonal antibodies to be used in the treatment of various cancers and viral infections helping millions of people worldwide. Its products are not commercially available. For further information please visit our website www.nascentbiotech.com. Our lead candidate, Pritumumab (PTB), is a monoclonal Antibody (Mab) will be studied in Phase I clinical trial later this year for the treatment of Brain Cancer. Development for PTB as a treatment for COVID-19 has been initiated. For more information, visit www.nascenbiotech.com.
About Manhattan BioSolutions
Manhattan BioSolutions, Inc (MBS) is a privately held biotechnology company focused on the discovery and development of immunotherapies that target innate immunity for the treatment of cancer and inflammatory diseases. MBS leverages two technology platforms for drug discovery: microbial based genetically engineered immune stimulator platform, and monoclonal antibodies against innate immune sensors that recognize pathogens or endogenous “danger signals” released as a result of tissue injury or inflammation.
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Forward Looking Statement
Statements in this press release about our future expectations constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, Nascent Biotech Inc’s ability to target the medical professionals; Nascent Biotech Inc’s ability to raise capital; as well as other risks. Additional information about these and other factors may be described in the Nascent Biotech Inc’s Form 10, filed on May 2, 2015, and future subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
President | CEO
Nascent Biotech, Inc.
330 Nancy Ridge Dr
San Diego CA 92121
Boris Shor, PhD | Founder | CEO email@example.com