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:
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