World News: 13:30 GMT Wednesday 11th September 2019. [Nascent Biotech, Inc. via Globe Newswire via SPi World News]
SAN DIEGO, Calif., Sept. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nascent Biotech, Inc. (OTCQB:NBIO), a biopharmaceutical company focusing on the development of monoclonal antibodies for the treatment of various types of cancers, announces an agreement with TRITON FUNDS LP. TRITON FUNDS LP will invest $1 million to support the commencement of Phase I human clinical studies on Nascent’s primary asset, Pritumumab.
“We are dedicated to our ongoing efforts to bring our brain cancer drug to patients by completing the first milestone of initiating phase I human clinical trials,” said Sean Carrick, President and CEO. “Triton’s investment will allow us to begin our clinical trial plus complete the numerous testing steps required by the FDA. Triton’s confidence in this very promising project will help address an unmet need in helping brain cancer patients alongside eliminating the going concern from our financials.”
“Brain cancer is a severely underserved market affecting up to 25,000 new patients annually in the US alone. The metastatic patient population adds an additional 175,000 patients. We are excited to finally begin treating patients,” added Mr. Carrick. “Pritumumab addresses an unmet need in brain cancer and may have broader applications in other epithelial cancers such as pancreas, lung and breast, as well. We are fully committed to advancing this promising drug through the regulatory process and positively impacting the treatment of difficult to treat cancers.”
Nascent Biotech, Inc is a clinical-stage biotech company engaged in the development of monoclonal antibodies to be used in the treatment of various cancers. Its products are not commercially available. For further information please visit our website .
TRITON FUNDS LLC is the largest student-run fund-manager in the USA. Founded by undergraduates from the University of California, San Diego, TRITON FUNDS provides students the invaluable opportunity to gain real-world experience investing alongside experienced financial professionals. It invests in high performing teams with revolutionary aspirations to grow their company into industry leaders. TRITON FUNDS creates an ecosystem that assists talented entrepreneurs in successfully growing their ideas and maintaining strong community ethical standards. It provides strategic capitalization, business development support, and engineered exits to organizations that have a viable future in the modern economy. More information can be found at .
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.
Sean Carrick 772.713.0541 email@example.com
Globe Newswire: 13:30 GMT Wednesday 11th September 2019
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