MONTREAL -- (Marketwired) -- 08/26/13 -- 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 announces that its parent company, Advanomics Corporation, has signed a binding agreement to acquire Garmen Laboratories (Laboratoires Garmen Inc.), a Good Manufacturing Practices (GMP) laboratory with 45 employees providing complete pharmaceutical manufacturing and testing services to a broad range of industrial, institutional and governmental agencies. A profitable company, Garmen Laboratories is headquartered in a 50,000-square-foot, state-of-the-art facility in Montreal, Canada. With nearly 35 years of industry experience, Garmen delivers an array of solutions that can help detect, identify and quantify trace-level chemical components in the nutraceutical, food and pharmaceutical industries.
Garmen Laboratories has a strict quality assurance program that meets 21CFR211 (GMP) and ISO 17025 environment. It is a U.S. Food and Drug Administration-registered facility and accredited by Health Canada. More on Garmen Labs can be found at www.garmen.ca.
Garmen Laboratories will manufacture 1 kilogram of Adva-27a, Sunshine Biopharma's flagship anticancer drug candidate in development for multidrug resistant cancers. The 1-kilogram GMP material will be used to complete the remaining studies required to file an Investigational New Drug application with the U.S. Food and Drug Administration and conduct the Breast Cancer Phase I clinical trial of Adva-27a scheduled to be hosted at McGill University's Jewish General Hospital in Montreal, Canada.
Recently, Advanomics received $1.45 million in research grants from the distinguished Canadian granting agencies, NSERC, NanoQuebec and Canadian Institutes of Health Research (CIHR), to advance the development of Adva-27a.
"We are extremely pleased with the acquisition of Garmen Laboratories as it puts us in a prime position to continue to advance our novel cancer drug," said Dr. Steve N. Slilaty, CEO of Sunshine Biopharma. "We are excited that our methodical business plan in the development of Adva-27a is coming to fruition. The recent grants have us in a sound financial condition and the new acquisition provides us with complete control of the manufacturing process, an envious position for any small biotechnology company."
About Garmen Laboratory
Garmen Laboratories is a privately held Canadian Company that provides complete Pharmaceutical services for a broad range of industrial, institutional and governmental agencies. With nearly 35 years of industry experience, Garmen provides wide range of solutions that can help detect, identify and quantify trace-level chemical components in Nutraceutical, Food and Pharmaceutical products.
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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