BEVERLY HILLS, Calif., Feb. 16, 2016 /PRNewswire/ -- Rich Pharmaceuticals, Inc. (OTC Markets: RCHA) ("Rich Pharmaceuticals" or the "Company"), a biopharmaceutical company focused on developing and commercializing innovative therapies in oncology, announced today some of its key corporate goals and objectives for 2016.
Rich has received clearance from the U.S. Food and Drug Administration (FDA) to commence its Phase 1/2 clinical for the treatment of Acute Myelocytic Leukemia (AML) and Myelodysplastic Syndrome (MDS) patients.
2016 Goals & Objectives:
Rich expects to achieve the following key milestones in the upcoming year:
- Submit a protocol to the FDA for Hodgkin's Lymphoma under the company's existing IND
- Initiate a 1/2 clinical trial in Hodgkin's Lymphoma
- Select two clinical sites in the United States for AML/MDS and Hodgkin's Lymphoma studies
- Submit Protocols to the Internal Review Board (IRB) at all U.S and Thailand clinical sites
- Aggressively enroll patients at participating clinical sites in the U.S. and Thailand for the Phase 1/2 clinical studies in AML/MDS and Hodgkin's Lymphoma
"This year is expected to provide significant milestones and achievements for the company and our pipeline as we plan to move forward with our Phase 1/2 clinical studies in AML/MDS and advancing our Hodgkin's Lymphoma studies." said Ben Chang, CEO. "Despite the precipitous decline in biotech stocks over the past three months, which no doubt has hit shares of Rich disproportionately hard, management remains aggressive in pursuing activities designed to unlock value over the next few quarters," continued Mr. Chang. "I believe that being in parallel studies in multiple sites and countries should strengthen the company's position."
About Rich Pharmaceuticals:
Rich Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies in oncology, with initial concentration in treating AML, Hodgkin's Lymphoma and other blood related diseases. Rich Pharmaceuticals' goal is to extend refractory patients life expectancy and increase quality of life. Rich Pharmaceuticals' primary development stage product candidate, RP-323, is being designed to treat blood and cancer related diseases through non-evasive outpatient facilities. RP-323 is a phorbol ester, which induces differentiation and/or apoptosis in multiple cell lines and primary cells, activates protein kinase C (PKC), and modulates the activity of multiple downstream cell signaling pathways, including mitogen-activated protein kinase (MAPK) pathways. RP-323 induces PKC to produce NF kappa, which then produces NF kappa B that has the ability to regulate cellular responses by entering into the nucleus of cells. NF kappa B binds to DNA and changes the nature of the cell and (1) induces differentiation; (2) induces proliferation; (3) cytokine induction; (4) and/or apoptosis. Find out more at www.richpharmaceuticals.com
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, references to novel technologies and methods, our business and product development plans, our financial projections or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to raise the additional funding we will need to commence clinical trials and to continue to pursue our business and product development plans, our ability to develop and commercialize products based on our technology platform, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in 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 any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
SOURCE Rich Pharmaceuticals, Inc.