Adamis Pharmaceuticals Corp. (OTC Bulletin Board: ADMP) has signed a definitive agreement to acquire exclusive license agreements which cover 3 small molecule compounds, named CPC-100, CPC-200 and CPC-300, for the treatment of human prostate cancer from Colby Pharmaceuticals, in exchange for shares of Adamis stock.
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Under the agreement, Adamis will issue 1 million shares of common stock to Colby in exchange for rights under the CPC-300 license agreement. The transfer of the CPC-100 and CPC-200 license agreement will take place following the closing of several conditions which include, Adamis receives equity funding after the agreement in excess of $2.0 million or the completion of the merger transactions between Adamis and La Jolla Pharmaceutical Company. The consideration for the transfer of these agreements will be 7.5 million shares of Adamis common stock to Colby.-
Adamis Pharmaceuticals is a commercial-stage specialty pharmaceutical company targeting allergy, respiratory and pediatric medicine market segments through its Adamis Laboratories division. Adamis Labs is currently preparing for the commercial launch, via its existing sales force, of a pre-filled epinephrine syringe for use in the emergency treatment of extreme acute allergic reactions (anaphylaxis).
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