OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05. Costs Associated With Exit Or Disposal Activities
On December 29, 2017, the Board of Directors of OncBioMune Pharmaceuticals, Inc. (the “Company”) determined to sell or otherwise dispose of its interest in Vitel Laboratorios S.A. de C.V. (“Vitel”) and Oncbiomune México, S.A. De C.V. (“OBMP Mexico”).
This transaction will enable the company to focus more of its efforts and resources on the Phase 2 clinical trial of Proscavax in the United States. The Company expects to present Vitel and OBMP Mexico as discontinued operations beginning with its financial statements for the year ended December 31, 2017.
The Company is unable at this time to provide a good faith estimate of the costs associated with its discontinuance of Vitel and OBMP Mexico or the time for completion of the planned dispositions. The Company will file any required report with the SEC at such time as such determination is made and the dispositions have been completed.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 22, 2017, Manuel Cosme Odabachian resigned as a member of the board of directors of the Company.
Item 9.01 Financial Statements and Exhibits
OncBioMune Pharmaceuticals, Inc Exhibit…To view the full exhibit click here
About OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP)
OncBioMune Pharmaceuticals, Inc., formerly Quint Media Inc., is a biotechnology company. The Company specializes in various cancer therapies. The Company focuses on developing breast and prostate cancer therapeutic vaccines, and a process for the growth of cancer cells and targeted chemotherapies. The Company’s vaccine technology is designed to stimulate the immune system to selectively attack cancer cells without harm to the patient. The Company’s product portfolio consists of approximately three target therapies and a vaccine platform that allows creation of a therapeutic vaccine for various solid tumor cancer. The Company’s lead product, ProscaVax is indicated for prostate cancer. The Company focuses on planning Phase II clinical trials of ProscaVax. The Company is also focused on development of its other technologies, such as the paclitaxel-albumin conjugate. It also has a portfolio of targeted therapies, some of which are biosimilars to drugs, including paclitaxel (Abraxane).
