BOSTON, Aug 26 /PRNewswire-FirstCall/ -- China PharmaHub Corp. ("PharmaHub"), which has recently merged with World Wide Relics (OTC Bulletin Board: WRLC) which has changed its name to China PharmaHub Corp, and is in the process of obtaining approval from FINRA to trade under its new name with a new symbol, announced today that it has signed an Exclusive Distribution Agreement ("Agreement") with a world leader in precision glass technology which can be utilized to manufacture high precision radioactive glass spheres that emit alpha, beta or gamma radiation, either individually or in combination, for the treatment of malignant tumors of the liver. The Agreement gives PharmaHub the exclusive right to market in China, Hong Kong, Taiwan and Macau ("Greater China Region"), Singapore, Malaysia, and Bangladesh this innovative liver cancer treatment which is similar to a FDA-approved liver cancer therapy.
PharmaHub is a global pharmaceutical HUB that specializes in the identification, licensing, development and commercialization of pharmaceutical and healthcare products and technologies that its management believes could make a significant difference to patients and society worldwide. PharmaHub's corporate goal is to create maximum value from existing intellectual properties and technologies of its global partners by utilizing its broad-base of knowledge, understanding and resource allocation ability in the pharmaceutical and healthcare industries.
The FDA-approved version of this "magic bullet" cancer therapy has already improved the quality of life and offered longer life expectancy with minimum side effects for many patients suffering from inoperable liver cancer in the United States. The procedure is now used routinely in more than 43 clinical centers in 27 states, and was recently approved for coverage by two of the largest health insurers in the United States. The therapy combats tumors in patients with hepatocellular carcinoma (HCC), commonly known as primary liver cancer, who cannot be treated with surgery, and are awaiting an organ transplant.
As the exclusive distributor in the Greater China Region, Singapore, Malaysia and Bangladesh of this new form of liver cancer treatment, PharmaHub believes that the therapy offers a solution to the problem of malignant liver cancer in Southeast Asia where approximately three-quarters of the cases of liver cancer worldwide are found. China, alone, has the highest number of liver cancer patients worldwide, approximately one-half of the world HCC population, with more than 350,000 new cases diagnosed each year, a number that is expected by Management to continue to rise in the coming years. As projected by IMS Health, China will become the world's third-largest pharmaceutical market by 2011, growing by more than 20% annually. Oncology is among the top five therapy classes in China, which recorded a staggering 27% compound annual growth rate ("CAGR") from 2005-2009 and is poised to achieve similar gains through 2015.
Richard Lui, CEO of PharmaHub stated, "We are thrilled with this opportunity to take a leadership role in introducing this type of radioembolization treatment for inoperable liver cancer in China and Southeast Asia. This therapy is a pioneering alternative to surgery, chemotherapy and other radiation therapies in current usage. Overall, the treatment can cause fewer and milder side effects than other current treatments and offers the convenience of outpatient therapy at a significantly lower price than the more conventional treatments."
"PharmaHub plans to immediately set up clinical studies in China to test wider applications of the medical technology, not only for liver but other cancers, then move to commercialization of the procedure in a cost-effective and reliable manner throughout China," stated Mr. Lui. "We also foresee the potential medical application and commercial growth of this technology in other areas, including radiation synovectomy of arthritis joints."
Dr. Handy Williamson, Vice Provost for International Programs at the University of Missouri-Columbia (MU) states "PharmaHub has presented a significant opportunity for some of MU's cutting edge innovations to be introduced into the arena of life saving application. Bringing good innovations into the marketplace is a strong aspiration shared by MU and other leading research universities across the US. In this instance our intuitional relationships in Asia are on the verge of bearing fruits."
"This is just the beginning," concluded Mr. Lui. "PharmaHub's goal is to become a worldwide leader in technology transfer. Our game plan is to rapidly acquire relevant proprietary technologies developed by leading research institutions, like MU. The 'PharmaHub Advantage' is that we have the experience to take a leadership role in leading our global partners towards efficiency and effectiveness."About PharmaHub:China PharmaHub Corp. is engaged in the business of licensing, developing and the commercialization of pharmaceutical and healthcare products and technologies between Chinese pharmaceutical companies and other pharmaceutical companies located worldwide, with initial emphasis in the United States and Europe. Management believes that PharmaHub brings a unique wealth of resources to assist scientists and companies in bringing their ideas to reality. PharmaHub's corporate headquarters are located in California, with offices in Boston and China. For more information visit www.chnpharmahub.com .Contact:Monica DingChief Financial OfficerTel: (909) 843-6288 Cel: (626) 589-5136 Email: firstname.lastname@example.org Forward-Looking StatementsThis press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein.
|SOURCE China PharmaHub Corp.|
Copyright©2010 PR Newswire.
All rights reserved