Pompano Beach, FL, July 18th, 2018 (GLOBE NEWSWIRE) – Nesvik Pharmaceuticals (f/k/a BioStem Pharmaceuticals), a subsidiary of BioStem Technologies, Inc. (OTC PINK: BSEM) (“BioStem” or the “Company”), a global life sciences corporation, is pleased to announce the Asset Purchase of multiple New Drug Compounds from CCM Pharma Solutions establishing the beginning of a Joint Venture.
Nesvik Pharmaceuticals and CCM Pharma Solutions have agreed to work together to reformulate four new drug compounds (to be known as BSEM-120, BSEM-125, BSEM-130, and BSEM-135) via the 505(b)(2) pathway for U.S. FDA approval. These reformulations allow increased availability and delivery of widely known and used drugs in patients who are unable to take tablets or capsules. CCM Pharma Solutions has a proven track record of successfully identifying and bringing new drug compounds to the market. Upon FDA approval of these drug compounds, Nesvik Pharmaceuticals will add valuable assets to the Company balance sheet. The projected revenues of these products upon approval will also support the Company valuation in the future. CCM Pharma Solutions has a veritable history of working with Joseph Esposito, President of Nesvik Pharmaceuticals, Inc., to bring new formulations to the market via the 505(b)(2) pathway.
Through this acquisition, BSEM will:
Acquire and fully possess four drugs identified for reformulation (BSEM 120, 125, 130, 135).
Receive royalties from seven new chemical entities that have been developed by CCM Pharma Solutions (INV-220, 301, 401, and CAR-208, CCM-508, 509, and 510).
Andrew Van Vurst, Chief Operating Officer at BSEM stated,
“The team is very keen on moving these products into formulation development and have already made great progress in preparation of the Pre-IND application packages. We believe that the established and successful working relationship between CCM Pharma and Joseph Esposito will allow for rapid acceptance through the FDA 505(b)(2) approval process.”