PharmaCyte Biotech to Expand the Product Pipeline

PharmaCyte Biotech Inc., a biotechnology company focused on developing cellular therapies for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®. Today they announced that its diabetes program and its malignant ascites program would be reintroduced to its product pipeline. PharmaCyte expanded its product pipeline after completing two public offerings totaling nearly $90 million, including exercised warrants.

“With the closing of two separate public offerings totaling approximately $90 million now complete, PharmaCyte can, for the first time in its history, operate comfortably in its development of treatments for hard-to-treat diseases without being constrained by financial resources,” said Kenneth L. Waggoner, Chief Executive Officer of PharmaCyte.

This is terrific news for the Company, our stockholders, and the patients we aim to help for various reasons. Most crucially, we now have the financial resources to complete the work required to meet the FDA’s requests to lift the clinical hold and get an open Investigational New Drug application (IND) for our treatment for locally advanced, inoperable pancreatic cancer (LAPC).In addition, if the FDA lifts the clinical hold, PharmaCyte is ready to enter a fully financed clinical trial in LAPC right once. We may also broaden our whole development pipeline, including our diabetes and malignant ascites products because the Company is now well-capitalized. PharmaCyte is committed to advancing our flagship product candidate, a therapy for LAPC, through a Phase 2b clinical trial.

However, after deferring our diabetic and malignant ascites initiatives to focus all of our resources on our LAPC treatment, we are now in an excellent position to resume these two programs. PharmaCyte Biotech Inc. is a biotechnology firm focused on developing cellular therapeutics for cancer and diabetes using its proprietary “Cell-in-a-Box®” cellulose-based live-cell encapsulation technique.