Advanced Biological Systems Inc., Biopharmaceutics deal

The companies signed a letter of intent to form a joint venture to develop and complete the regulatory process for Mitolactol (dibromodulcitol). Advanced Biological Systems will fund the joint venture. BOPH has completed Phase III trials with Mitolactol in both brain and cervical cancer, indications for which the product has Orphan Drug designation. BOPH, a custom pharmaceuticals manufacturer, will receive an undisclosed amount of money and equity from Advanced Biological Systems. ...