ANEW MEDICAL, INC. Acquires Five Drug Approvals with Manufacturing in Europe

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Oct 04, 2022, 14:10 ET

NEW YORK, Oct. 4, 2022 /PRNewswire/ -- ANEW MEDICAL, INC. ("ANEW" or "the Company") (OTCPK: LEAS) announced that it has acquired five market-approved anti-cancer drugs approved for sale in Germany. The Market Authorizations (MA's) are for four of the drugs that comprise the "FOLFOX" and "FOLFIRI" multi-drug regimens used in treatment of metastatic colorectal and gastric cancer and in two of the drugs are used to treat metastatic lung cancer. The drugs are important in the treatment of many solid tumors in both childhood and adult cancers.

"Some of these drugs have previously been the subject of drug shortages and rationing in the past, so ANEW being able to provide an alternative, high quality source of these product was important to us," stated Dr. Shalom Hirschman, the Chief Medical Officer of the Company. He also added that, "Having a European manufacturing source for each of the five MA's was also important to us."

Dr. Joseph Sinkule, the Founder and CEO of ANEW stated, "We will combine the oncology drugs and additional drug assets with a portfolio of biosimilar biologics also used in the treatment of cancer, and then grow the business with more additions to the portfolio. Initiating marketing and sales in Europe and then migrating the dossier to the US allows us time to build a reliable business franchise and gain name recognition both in Europe and then the US, the two major global pharmaceutical markets." Dr. Sinkule went on to say, "Our pricing of these life-saving medicines is 'Cost Plus', meaning the cost to produce these goods and a small margin needed to sell and distribute the drugs. The prices of our products are, therefore, affordable even in this era of significantly increased energy prices in Europe. Our biosimilar biologics will have higher margins as we will invest in Phase 3 studies and market approval expenses for each of those agents, but the strategy is still straightforward."

ANEW's generic drug division comprised of drugs and biologics complements its "high tech" division focused on gene therapies associated with neurodegenerative diseases like Alzheimer's disease, cancer, and aging (longevity).

FORWARD LOOKING STATEMENTS

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.

For more information, visit www.anewmeds.com.

SOURCE ANEW MEDICAL, INC.