The shares of Rich Pharmaceuticals Inc(OTCBB:RCHA) gapped up this morning and went up as much as 20% in early trade to $0.0015 on hefty volume of 76 million shares, compared to its average volume of 73.23 million shares.
Signs Letter of Intent with Faculty of Medicine
This morning, Rich Pharmaceuticals announced that it has reached an agreement into a Letter of Intent with The Faculty of Medicine at Khon Kaen University, Thailand to carry out clinical trials using Rich’s lead molecule, RP-323 in treating AML patients.
The Faculty of Medicine at Khon Kaen University has formed itself as a center for world-class research. Presently, they have four Research Centers of Excellence and 23 Research Groups doing clinical research across numerous disease states with emphasis in conducting oncology clinical trials.
The commencement of the clinical studies is mainly depends upon forming a budget and timeframe for the studies, and the execution of a definitive Clinical Study Agreement with the Faculty of Medicine at Khon Kaen University. The clinical studies are targeted to consist of 36 patients and 3 separate sites.
About Rich Pharmaceuticals
Rich Pharmaceuticals, Inc. (OTCQB: RCHA) is a biopharmaceutical company engaged in developing a treatment for Acute Myelocytic Leukemia (AML)/white blood cell elevation, Hodgkin’s Lymphoma and other blood related diseases. The company’s goal is to expand refractory patients life expectancy and increase quality of life. Rich Pharmaceuticals’ primary development stage product candidate, RP-323, is being designed to treat blood and cancer related diseases through non-evasive outpatient facilities. Find out more at www.richpharmaceuticals.com.