BURNABY, BC, June 11 /CNW/ - Welichem Biotech Inc. (the "Company")
(TSX-V: WBI), is pleased to announce that the Company was recently provided
with an increase to their original contribution agreement of up to $150,000 by
the National Research Council Canada Industrial Research Assistance Program
(NRC-IRAP) for research and further development of its novel anticancer drug
candidate, WBI-2100. This contribution agreement will allow Weilchem to have
up to a total of $350,000 towards the development of this particular R&D
NRC-IRAP works with small- and medium-sized Canadian enterprises,
providing advisory services and potential funding to clients to help them
develop innovative R&D projects.
Welichem recently discovered that its novel cancer drug candidate,
WBI-2100, has the unique property of boosting neutrophils, a major immune cell
type in the blood that defends the human body from bacterial and fungal
infection. More interestingly, when WBI-2100 is combined with certain
chemotherapeutic cancer drugs, chemotherapy-induced neutropenia (reduction of
neutrophils) is prevented. WBI-2100 has the potential of being a unique cancer
chemotherapy that negates one of the common, serious side effects normally
experienced by patients undergoing cancer chemotherapy. There is a substantial
need for products that have the potential to prevent chemotherapy-induced
neutropenia. No other anti-cancer drug currently in use possesses such dual
activities. This new NRC-IRAP contribution will assist Welichem in the rapid
development of WBI-2100 for future clinical application.
The Company was pleased to work with the NRC-IRAP advisory staff
throughout the assessment process and looks forward to the continuance of this
About Welichem Biotech Inc.
Welichem Biotech Inc. is a publicly-traded biotechnology company
developing therapeutic drugs in the fields of autoimmune diseases and cancer.
ON BEHALF OF THE BOARD
York Yingping Guo
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release. This press release contains forward-looking statements that include
our belief as to the potential of our products. Certain risks and
uncertainties such as our ability to successfully commercialize the products
could cause the Company's actual results to differ materially from those in
the forward-looking statements.
For further information:
For further information: York Yingping Guo, Tel.: (604) 432-1703, Email:
email@example.com; Andrew Baren, Investor Relations, Tel.: (604) 432-1703
ext. 224, Email: firstname.lastname@example.org