Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT) Forges MOU With Sinopharm


Dallas, Texas 08/19/2014 (FINANCIALSTRENDS) – Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT) one of the leading oncology and dermatology biopharmaceutical has announced that it now has worked out a MOU with leading Chinese Pharm.

The announcement stated that PVCT’s MOU was with Sinopharm-China State Institute of Pharmaceutical Industry. Incidentally, this company leads the pharmaceutical research institutes in China. The memorandum includes work with Sinopharm A-THINK Pharmaceutical Co. Ltd. The latter is known for its injection stockpile which is used to fight tumors and other drug research as well as development. The company is involved in manufacture as well as distribution of the integrated platform as well as the Sinopharm Group.

What is the MOU about?

Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT) and the two companies will work to gain an exclusive license for the commercial use of the drug PV_10, in the Chinese market. This is based on the premise that PVCT will offer the license to Sinopharm.

It is noted that in the following quarter, the stakeholders will address a definitive licensing contract and will incorporate additional terms of negotiations besides working on regulatory requirements. The use of the technology and its license, in China, are of critical importance to the US-based company, the announcement noted. Further details of the payment milestones are also to be addressed.

As of the current agreement the PV-10 will continue to be manufactured in US, while Chinese Sinopharma THINK will distribute it in China.

Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT) reported that the MOU would be compliant with Chinese rules, stating further that, “ PV-10’s clinical trial on melanoma, breast cancer and cancer of liver, plus the systematic effect on human immune efficacy.” Further, the MOU also noted that, “PV-10 could be applied to other indications such as lung cancer, pancreatic cancer, prostate cancer and kidney cancer.”

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