BEVERLY HILLS, Calif., Oct. 13, 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 agreement with Richard L. Chang Holdings, LLC based in New Jersey for ownership to its investigational cancer patent assignment using Phorbol Esters in the treatment of Hodgkin's Lymphoma. Hodgkin lymphoma is a cancer of the immune system that is marked by the presence of a type of cell called the Reed-Sternberg cell. The two major types of Hodgkin Lymphoma are classical Hodgkin lymphoma and nodular lymphocyte-predominant Hodgkin lymphoma. Currently, this disease affects over 100,000 patients annually. In 2014, it is estimated that there will be 9,190 new cases of Hodgkin lymphoma and an estimated 1,180 people will die of this disease.
"We anticipate this acquisition will contribute meaningfully to our overall corporate strategy in becoming a diversified pharmaceutical company focused in oncology," stated Ben Chang, Chairman and CEO of Rich Pharmaceuticals, Inc. "Obtaining ownership of this new patent is the latest effort in our active pursuit of additional long term synergistic growth opportunities for our organization. We are excited to expand our pipeline being developed in oncology and look forward to developing RP-323 for the treatment of Hodgkin lymphoma and Acute Myelocytic Leukemia."
Under terms of the agreement, Rich Pharmaceuticals, Inc. will obtain complete ownership and all interest in the indication, patents and intellectual property related to treatment of Hodgkin's Lymphoma, utility patent application number 61998397, entitled COMPOSITIONS AND METHODS OF USE OF PHORBOL ESTERS FOR THE TREATMENT OF HODGKIN'S LYMPHOMA. Additional financial terms of the deal were not disclosed.
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.