China PharmaHub Corp. Enters Into Definitive Agreement for Humanized Antibody
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