SAN DIEGO, California, September 24, 2015 /PRNewswire/ --
Entest BioMedical Inc. (PINK: ENTB) discussed the Company's current status and future plans.
On June 26, 2015 Entest Biomedical, Inc. (the "Company") filed a Form 8K with the United States Securities and Exchange Commission, disclosing that Zander Therapeutics, Inc. (a wholly owned subsidiary of the Company) was granted a worldwide license to develop and commercialize certain of Regen BioPharma's cancer therapeutics (currently in development by Regen) for veterinary applications. David Koos, who is the CEO of the Company, also serves as CEO of Regen Biopharma, Inc.
On June 1, 2015 the Company had announced that it was in discussions to acquire a nanotechnology delivery system for the delivery of cancer therapeutics in both animals and humans.
As discussions have been in place since June 2015 and the Company has concluded it is unlikely a transaction would be structured on terms and conditions favorable to the Company, the Company has abandoned negotiations regarding the acquisition of the aforementioned nanotechnology delivery system in order to direct resources toward development and commercialization of the technology licensed from Regen.
Currently the Company is in the process of seeking entities that could be interested in co-development of its canine cancer therapeutics. As the Company moves forward in this area, updates will be provided to its shareholders.
About Entest BioMedical Inc.:
Entest BioMedical Inc. (PINK: ENTB) is a developer of veterinary medicines that harness the animal's own reparative / immunological mechanisms. The Company is also pursuing cancer therapeutics for veterinary application.
Disclaimer
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Contact:
Entest BioMedical Inc.
David R. Koos, PhD
Chairman & Chief Executive Officer
+1-619-702-1404 Phone
+1-619-330-2328 Fax
http://www.entb.net
SOURCE Entest BioMedical Inc.