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OXIS International, Inc. (OTCMKTS:OXIS) Subsidiary Updates On Option Deal

Oxis Biotech, Inc., a wholly owned subsidiary of OXIS International, Inc. (OTCMKTS:OXIS) announced the completion of an exclusive option deal with the ‘University of Pittsburgh’ linked to certain patents/intellectual properties that were formulated by Dr. Xiang-Qun Xie. The patents and intellectual properties are associated with the novel compositions of matter that could be helpful as therapeutics for the treatment of several human diseases. Oxis stated that the term of the deal is eighteen months. Also, as per the deal, in the exclusivity period, the University will not provide the license of intellectual properties and patents to third parties.

The deal

Anthony J. Cataldo, the Chairman of Oxis Biotech said that the company is delighted to have an opportunity to include the patents and intellectual properties rights offered by University of Pittsburgh existing portfolio. The company’s lead product termed as OXS-4235 was formulated by Dr. Xie and his team mates, and shown in ‘in-vitro’ and ‘in-vivo’ models of osteoporosis and problem of multiple myeloma.

The subsidiary

Oxis Biotech, the subsidiary company of Oxis International works on advanced drugs focused on the treatment of cancer and various other diseases. OXS-4235 is lead drug candidate of the company. It is a small molecule drug candidate meant for the cure of disease multiple myeloma and linked osteolytic lesions. In vivo and in vitro models of disease multiple myeloma and also in osteoporosis, OXS-4235 showed the ability to reduce multiple myeloma cells, and osteolytic lesions in bone. The second drug OXS-2175 is a small molecule candidate for the cure of breast cancer.

The University

The University of Pittsburgh School was chartered in 1878. The School of Pharmacy of the university is the oldest Schools of the Health Sciences. It is categorized as one of the top 10 schools nationwide. It is educates future practitioners with its Pharm. D. program, and is a known unit in research with activities focused on human clinical research, research in molecular genetics and many others.

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