BOSTON, July 1 /PRNewswire/ -- China PharmaHub Corp.
("PharmaHub"), announced today that it has entered into a
definitive agreement with Dr. David
Weaver and Dr. Michael
Rynkiewicz. In addition, PharmaHub contemplates
merging with World Wide Relics, Inc. (OTC Bulletin Board: WRLC) of
which it recently purchased a 77% interest.
The management of World Wide Relics ("WWR") and PharmaHub are
looking forward to the potential merger and are working diligently
towards it. PharmaHub is engaged in the business of
licensing, development and commercialization of pharmaceutical and
healthcare products and technologies between Chinese pharmaceutical
companies and other pharmaceutical companies located worldwide,
with initial emphasis in the United
States and Europe. For
existing WWR shareholders, the merger could add substantial value
due to PharmaHub's existing business relationships and agreements.
Pursuant to PharmaHub's agreement with Dr. Weaver and Dr.
Rynkiewicz, a joint venture has been created and will be known as
Akanas Therapeutics, Inc. ("Akanas"), of which PharmaHub owns a 35%
interest. The joint venture will have the exclusive rights to
the intellectual property, which includes patents on a proprietary
technology using atomic structure for antibody humanization to
rapidly and cost-effectively create humanized antibodies which
retain high affinity and avoid immunogenicity. Dr. Weaver and
Dr. Rynkiewicz invented the core Akanas platform technology in
2005. Dr. Weaver has over 15 years of experience in the
research and development of cancer biology and immunology. He
received postgraduate training at MIT
and the Whitehead Institute, and a Ph.D. in Biological Chemistry
from Harvard. Dr. Rynkiewicz is an
experienced protein crystallographer with training from
Boston University and University of Pennsylvania. He received a Ph.D. in
Chemistry from Boston University and a
B.S. in Chemistry at MIT.
PharmaHub will work with Akanas to expand its existing
research, development, commercialization and marketing on a
worldwide basis.
"We're excited to enter into this agreement," stated
Richard Lui, Chief Executive Officer
of PharmaHub. "This marks another of PharmaHub's endeavors
where we will be utilizing our resources both in the U.S. and in
China to strive to bring these
innovative technologies to patients around the world. Akanas'
humanized therapeutic antibodies technology has already produced
several compositions which Management believes showed superiority
in preclinical trials over existing antibodies on the market.
We look to provide a meaningful impact to the disease markets
by having improved activity and reduced side effects as we continue
to carry out preclinical and clinical trials in China. This agreement demonstrates the
collaborative effort that PharmaHub is striving for with each
scientist or company with whom we work."
Lui continued, "Akanas' humanized antibody can potentially be
used to treat such diseases as cancer and rheumatoid arthritis.
With the market for disease treatment in China and the U.S. booming, and the global
antibody drug market expected to generate $30 billion in worldwide sales in 2009, with an
annual growth rate of 14 percent through 2012, according to
Datamonitor, Management believes that the potential for China
PharmaHub is enormous."
About PharmaHub:
China PharmaHub Corp. is engaged in the business of licensing,
developing and the commercialization of pharmaceutical and
healthcare products and technologies between Chinese pharmaceutical
companies and other pharmaceutical companies located worldwide,
with initial emphasis in the United
States and Europe.
Management believes that PharmaHub brings a unique wealth of
resources to assist scientists and companies in bringing their
ideas to reality. PharmaHub's corporate headquarters are
located in California, with
offices in Boston and China.
About World Wide Relics:
World Wide Relics, Inc. produces and markets historical costumes
and reenactment clothing lines. The company sells its products to
the enthusiasts and collectors on e-stores, such as Ebay.com. World
Wide Relics, Inc. was founded in 2005 and is based in New York, New York.
Forward-Looking Statements
This press release, together with other statements and
information publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The Company
intends such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Except as otherwise required by the federal securities
laws, the Company disclaims any obligation or undertaking to
publicly release any updates or revisions to any forward-looking
statement contained herein.
SOURCE China PharmaHub Corp.