Nascent Biotech Retires Liabilities with Non-Dilutive Funding
Vero Beach FL, August 10, 2016 – Nascent Biotech, Inc., (“Nascent” or “the Company”) (BB: NBIO) is pleased to announce that through the non-dilutive funding recently received, it has paid nearly $1.7 million in payables and debt, plus created positive shareholders equity.
“With this funding we are now able to advance our asset through accelerated filing of our IND by the end of the year,” said Company CFO Lowell Holden. He further stated, “We have now retired all corporate long-term debt and are in a much better position to not only initiate human clinical trials for Pritumumab, a proprietary monoclonal antibody treatment for brain cancer, but also to ultimately expand from brain cancer into other un-met needs in cancer treatment.”
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. 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