PharmaGap in alliance with Cancer Institute for PKC inhibitors

By Angela McDaniels

Seattle, Nov. 23 - PharmaGap Inc. said it has signed a memorandum of understanding with the Oregon Health and Science University Cancer Institute to pursue a collaborative development effort for the company's lead drug compound PhG-alpha-1 and pipeline of PKC inhibitors.

PharmaGap will retain all ownership, sale and licensing rights to the compounds.

PharmaGap gave no assurance that it will be successful in reaching a binding collaboration agreement with the Cancer Institute, which would cover a project work plan and cost and revenue sharing arrangements.

In light of this event, the company extended the closing date of its private placement of equity securities to Nov. 29 from Nov. 15.

PharmaGap, based in Ottawa, Ont., is a biotechnology company that develops therapeutic compounds for the treatment of cancer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.