MONTREAL and QUEBEC -- (Marketwired) -- 08/12/13 -- Sunshine Biopharma Inc. (OTCQB: SBFM), a pharmaceutical company focused on the research, development and commercialization of drugs for the treatment of various forms of cancer, today announced that its parent company, Advanomics Corporation, has been awarded a second research grant, this time from Canadian Institutes of Health Research (CIHR), to advance the development of Adva-27a, the Company's flagship anticancer drug candidate in development for multidrug resistant cancers. The grant, in the amount of $510,000, was awarded to Advanomics Corporation in collaboration with Ecole Polytechnique.
On July 16, the Company announced a research grant from NSERC and NanoQuebec in the amount of $940,000, bringing the total grants received from these distinguished agencies for the development of Adva-27a to $1.45 million.
"We are extremely pleased to have garnered this support from CIHR in addition to the support from NSERC and NanoQuebec to develop our novel cancer drug," said Dr. Steve N. Slilaty, CEO of Sunshine Biopharma. "Their commitment will prove invaluable in the advancement of Adva-27a and provides us a strong foundation for clinical trials."
Adva-27a is Advanomics Corporation's and Sunshine Biopharma's lead anticancer compound, a small molecule that has recently been shown to be effective at killing multidrug resistant breast cancer cells, small-cell lung cancer cells, uterine sarcoma cells and pancreatic cancers cells (Published in ANTICANCER RESEARCH, Volume 32, Pages 4423-4432, October 2012). Adva-27a is currently in the IND-Enabling stage of development. The original US patent covering Adva-27a was issued on August 7, 2012 under US patent number 8,236,935.
About Advanomics Corporation
Advanomics Corporation is a privately held Canadian company (55% shareholder of Sunshine Biopharma Inc.) focused on the research and development of treatments for cancer and other human diseases. Advanomics is conducting research and development in the areas of siRNA and Carbon-Difluoride Chemistry to generate novel anticancer compounds.
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
For Additional Information Contact:
Sunshine Biopharma Inc.
Direct Line: 514-814-0464
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