SAN DIEGO, Dec. 19, 2022 /PRNewswire/ -- Regen BioPharma, Inc. (OTC PINK: RGBP) and (OTC PINK: RGBPP) As 2022 comes to a close, I would like to highlight some our many accomplishments achieved this year and also to respond to the multiple queries regarding future business strategy and planning that we have received.
We significantly strengthened and broadened our intellectual property portfolio this year. We accomplished this by filing 4 new patents applications in the areas of mRNA vaccines and CAR T-cell therapies. In addition, we had 2 patents issued by the US patent office which protect our composition of matter around inhibiting and activating NR2F6 using small molecules.
Our science is now progressing. While the Company has many exciting pipeline products, we need to focus our limited resources towards what we believe will provide patients and our shareholders the maximum benefit. Thus, we are actively developing a novel CAR T-cell therapy which we call DuraCAR. This cell therapy is designed to utilize our patented shRNA that targets the immune checkpoint NR2F6 in the context of a CAR T-cell. By doing so, we expect that this cell therapy will be able to kill solid tumors as well as leukemias and lymphomas because these cells should be less susceptible to exhaustion and immunosuppression by the tumor microenvironment. We expect additional results from our partner CROs in the coming months. As this program progresses, we will seek out-licensing or asset sale opportunities to progress this product into the clinic.
To support this program, we are delighted that two accomplished scientists from the University of Pennsylvania, Dr. Ravinder Reddy and Dr. Mohammad Haris, have chosen to join our Scientific Advisory Board. The Company will rely on their expertise in CAR T-cell therapy and their understanding of the basic mechanisms by which CAR T-cells function to help with experimental design and interpretation.
Regarding financing, we dramatically reduced our convertible debt this year from $3,024,080 in principal and $652,905 in accrued interest as of March 31, 2022 to currently an outstanding balance of $510,000 principal and $250,859 in accrued interest in 2022. We are acutely aware that funding the company through debt is the least attractive option and therefore are currently exploring other financing options to support our scientific programs and to add to our management team.
Once we raise sufficient funds, expanding our management team will be a priority item for us. We believe adding strength to our business development efforts and our clinical programs will be critical for the Company to achieve its stated goals of moving its proprietary intellectual property through Phase 1/2 clinical development before partnering with a much larger biotech or pharma company.
Finally, I want to thank each of our shareholders. We all understand that the road to successful treatments for major illnesses such as cancer is long and arduous but we accept that and plan on continuing to progress our programs into the clinic.
Happy New Year to All,
David R. Koos
Chairman & CEO
About Regen BioPharma Inc.:
Regen BioPharma, Inc. is a publicly traded biotechnology company (PINK: RGBP) and (PINK: RGBPP). The Company is focused on the immunology and immunotherapy space. The Company is focused on rapidly advancing novel technologies through pre-clinical and Phase I/ II clinical trials. Currently, the Company is focused on mRNA and small molecule therapies for treating cancer and autoimmune disorders. Additional information on Regen BioPharma is available at http://www.regenbiopharmainc.com.
Disclaimer: This news announcement 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 INFORMATION
Regen BioPharma Inc.
David R. Koos, Ph.D.
Chairman & Chief Executive Officer
+1-619-722-5505 Phone
+1-619-330-2328 Fax
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SOURCE Regen BioPharma, Inc.
