BURNABY, BC, March 13 /CNW/ - Welichem Biotech Inc. (the "Company")
(TSX-V: WBI), is pleased to announce that the National Research Council Canada
Industrial Research Assistance Program (NRC-IRAP) has recently provided an
increase to the Company's original contribution agreement of up to $118,000.
The contribution will assist Welichem with research and development on its
unique oncology drug candidate, WBI-2100. This contribution agreement will
allow the Company to have up to a total of $460,000 towards the development of
this particular R&D project.
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.
Preliminary studies on WBI-2100 have indicated significant therapeutic
potential against solid tumours concurrent with increasing the number of
neutrophils (a type of white blood cell an increased number of which enhances
immune system function). Additional positive tests could lead to a full drug
development program for this compound's anti-cancer and anti-neutropenia (a
condition with reduced number of neutrophils usually caused by cancer
chemotherapy drugs) properties.
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
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:
firstname.lastname@example.org; Yan Chen, Business Development Manager, Tel.: (604)
432-1703, Email: email@example.com