SILVER SPRINGS, NV / ACCESSWIRE / January 19, 2017 / Kasten, Inc. (OTC PINK: KAST) updated its shareholders today on the status of its pending projects.
On January 3, 2017, the Company announced a Joint Venture (JV) Agreement with Dakota Life Sciences. The Company is in the process of setting up the JV in the state of Nevada. Per the agreement, the name of the JV shall be KD Joint Venture, Inc. and the purpose shall be to develop, fund, and market Site Specific Penetration Technology (SSPT™) biopharmaceutical products.
DAKOTA Life Sciences has completed formulation development, validation, safety, and efficacy testing on more than a dozen Over-The-Counter life sciences products. Revenues from these proprietary products will commence soon, and will be ongoing while the Company refines its prescription product regulatory approval trials designs for several RX products. The combination of imminent OTC revenue and near term Rx product revenue from high efficacy pharmaceuticals creates several assets from which to drive investor value. The Rx products are expected to receive FDA Fast Track designations, as they are focused on improved delivery of known drugs - resulting in powerful efficacy improvements. This is expected to dramatically reduce the risk, timing, and cost of these FDA approval pathways. Qualified Infectious Disease Product designations will also be sought for several of the Rx product approvals. This designation, once achieved, will enable additional exclusivity for the designated products.
On December 2, 2016, the Company announced a letter of intent (LOI) with Gulf Coast Pharmaceuticals to acquire formulas for Alzheimer's disease and Erectile Dysfunction. As a result of its due diligence review, the Company has decided not to pursue this opportunity.
"We are pleased with our go forward strategies to build shareholder value in an industry that continues to show growth. Biotech drugs have steadily carved a niche for themselves in the pharma market, and our plan is to capitalize on specialty drugs and personalized medicine," stated Jose Delgado, CEO of Kasten, Inc.
Kasten, Inc. is a biopharmaceutical company focused on the acquisition, development, and commercialization of medical therapies designed to prevent and/or treat serious medical conditions. Kasten is principally focused on delivering solutions to those medical conditions for which the care pathway is burdened by high morbidity, mortality, and cost.
SOURCE: Kasten, Inc.