BEVERLY HILLS, Calif., Oct. 9, 2014 (GLOBE NEWSWIRE) -- Rich Pharmaceuticals, Inc. (OTCQB:RCHA) ("Rich" or the "Company") Rich, a cancer therapeutics development company announced that it has entered into an investment agreement up to $4.5 Million with Macallan Partners, LLC headquartered in White Plains, NY. The investment commences under the Macallan Partners, LLC Agreement filed under Form S-1 and recently was declared effective by the Securities and Exchange Commission.
"We look forward to working with Macallan and moving forward with the clinical development of RP-323 in Acute Myelocytic Leukemia," stated Ben Chang, Chairman and CEO of Rich Pharmaceuticals, Inc. Michael Budinich, Private equity analyst at Macallan Partners, who has over 20 years of industry experience in investment banking, market making and private equity sees "tremendous potential in the Rich investment and Macallan is looking forward to a productive relationship."
About Rich Pharmaceuticals:
Rich Pharmaceuticals, Inc. (OTCQB:RCHA) is a Biopharmaceutical Company developing a treatment for Acute Myelocytic Leukemia (AML)/white blood cell elevation and other blood related diseases. Rich Pharmaceuticals' goal is to extend refractory patients life expectancy and increase quality of life. Rich Pharmaceuticals' primary development stage product candidate which is known as RP-323 is being designed to treat blood and cancer related diseases through none evasive outpatient facilities. Find out more at www.richpharmaceuticals.com.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, references to novel technologies and methods, our business and product development plans, our financial projections or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, our ability to develop and commercialize products based on our technology platform, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
CONTACT: Ben Chang, CEO 9595 Wilshire Blvd., Suite 900 Beverly Hills, CA 90212 424-230-7001 EXT 105Source:Rich Pharmaceuticals, Inc.