Vero Beach, FL (FSCwire) - Nascent Biotech, Inc., (“Nascent” or “the Company”) (BB: NBIO) is
pleased to announce that through the non-dilutive funding recently received, it has paid nearly $1.7 million in payables and
debt, plus created positive shareholders equity.
“With this funding we are now able to advance our asset through accelerated filing of our IND by the end of the year,” said
Company CFO Lowell Holden. He further stated, “We have now retired all corporate long-term debt and are in a much better
position to not only initiate human clinical trials for Pritumumab, a proprietary monoclonal antibody treatment for brain cancer,
but also to ultimately expand from brain cancer into other un-met needs in cancer treatment.”
About Nascent Biotech Inc.:
NBI is a biotechnology company developing human Monoclonal Antibodies (mAb’s) for immunotherapy of cancer. Its lead
therapeutic candidate, Pritumumab, was the first human antibody ever developed to treat a cancer patient. The company is now
developing a new clinical protocol and Initial New Drug (IND) package for commencement of new clinical trials to be conducted in
the United States under the guidance of the US Food and Drug Administration (FDA).
Safe Harbor:
This news release contains “forward-looking statements” as that term is defined in the United States Securities Act
of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely
historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results
of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous
factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. We assume
no obligation to update the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
Contact:
Nascent Biotech Inc
Lowell Holden, CFO
Phone: (612) 961-5656
Fax: (612) 486-7055
Web: www.nascentbiotech.com
Email: lowell.holden@nascentbiotech.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/nascent08112016_0.pdf
Source: Nascent Biotech Inc. (OTC Pink:NBIO)
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