Hmm.... Funny no mention of sunshine biopharma partnering with Pegan at UCR...
Oh wait! It says it in the next paragraph:
"Pegan was joined in the research by several colleagues at the University of Georgia. Of these, David Crich led the compound synthesis team and served as co-designer of the compounds with Pegan; Ralph Tripp led the antiviral testing group; and Brian Cummings, now at Wayne State University, led the toxicology efforts.
The research was funded by the National Institutes of Health and industry partner Sunshine BioPharma. The structural biology data collection for the project was supported by the Department of Energy."
The research was FUNDED by NIH and industry partner Sunshine BioPharma. NIH and sbfm helped to FUND the research Pegan did. Pegan then left UGA and got hired at UCR where he has taken that knowledge and applying it to research on compounds that SBFM has no legal claim over.
Meanwhile SBFM has moved on to University of Arizona and are helping them test compounds the UoA developed, compounds that are undergoing in vitro testing. My guess is their level of partnership is funding the research at UoA. Where did they get the funds to do this? Likely the R/S, which they couldn't even get half the amount they supposedly wanted ($23million) and couldn't even get half the price per share on their offering ($9.80 was the original deal for the offering and it turned into $4.25 per share with 2 warrants).
So it sounds like sbfm partnerships are essentially them funding research at universities using investor money. That $2.5 million from RB cap likely went to UGA to do mice studies, they came back as essentially worthless and SBFM decided to r/s uplist for more funds to do more in vitro studies at another university, putting them back at square one.
And just so you don't think I missed this from the last PR:
"Sunshine Biopharma”), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs today announced that it has entered into an agreement with the University of Arizona for the purposes of advancing the development of novel PLpro inhibitors discovered by the University of Arizona and the University of Illinois Chicago researchers. The development of the Company’s lead PLpro inhibitor, SBFMPL4, is currently continuing at the University of Georgia."
They are still developing SBFM-PL4 at UGA. No mention of mice study results that started a year ago because they don't want to say they were a failure. Instead they vaguely say the 'development' is still underway at UGA. None of the funded projects have yielded results that can move past mice trials. That's why they couldn't secure the $23 million initially announced at a $9.80 price per share (and 2 warrants) offering. Instead they got $8 million for $4.25/share and 2 warrants to continue funding research at universities.
At best this is years away from any meaningful product and meanwhile the pandemic is slowly ramping down as we are approaching a kind of herd immunity between infected cases and vaccinated and the severity is diminishing.
They have nothing and looking at their history, the price per share is on its downturn. Not even a mention of their cancer research because they have been doing mice testing on adva-27a for about 10 years now with nothing to show.
Last paragraph before "Safe Harbor Forward Looking statements" section.
'This is a major milestone in our development of Adva-27a," said Dr. Steve N. Slilaty, Sunshine Biopharma's CEO. "We are very excited to be at this point, the last step before Phase I clinical trials," he added.'
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