601 21st Street, Suite 300
Vero Beach, FL 32960
February 11, 2025
Dear Shareholder:
Our fiscal year will end March 31, 2025, and this year has proven to be challenging, yet productive. We submitted our Phase II data for review by the FDA as well as submitting our study plan for Phase II. Its response was favorable, allowing us to begin Phase II studies.
At Nascent Biotech (NBIO), we develop human Monoclonal Antibodies (mAb’s) for the treatment of cancer. Our lead therapeutic candidate, Pritumumab (PTB), is the first human antibody ever developed to treat cancer patients. Pritumumab has received orphan drug designation from the FDA for Gliomas (Brain Tumors) and Pancreatic Cancer. We have been granted patents for compositions, methods and relegated antibody fragments which are capable of crossing the blood brain barrier.
As you may be aware Nascent recently ceased trading on the OTCBB due to the Company’s inability to pay the auditing and reporting review fees as well as the OTC the annual listing fee. We have been working with various investment bankers to determine the feasibility of a secondary offering to raise the funds required. It appears that such a potential offering would require a major reverse split of our current shareholders, thereby diluting everyone’s current holdings. We have been considering the possibility of the Company pursuing an offering to our current shareholders to raise the needed funds necessary to conduct our Phase II studies. If we are successful in raising the funds needed, it would greatly reduce the risk of the Company having to use outside investment bankers who will require a substantial reverse split of our common stock as a condition of the offering.
To raise the funds to regain our listing status and to fund our Phase II Clinical Trial, NBIO is considering an offering of its common shares at $.25 cents per share. If this offering, if the Company decides to undertake it, is completely subscribed, the funds would be used to begin Phase II Clinical trials and general operating expenses. There are currently 172 million common shares of the Company’s stock outstanding. NBIO’s strategy, after showing efficacy in the trial, although that cannot be guaranteed, would likely be to engage a strategic partner or solicit acquisition of the Company by a major pharmaceutical company. The glioblastoma multiforme treatment market is expected to register a CAGR of 8.23% from 2025 – 2033 and reach $5.68 billion.
If you are interested in participating in future offerings of the Company or have any questions, please email me at sean.carrick@ nascentbiotech.com.
Nascent Biotech’s mission to significantly impact the devastating effect of un-met cancer needs, by giving patients the opportunity to live full lives while having cancer and contributing to the healthier lives of people around the world has not changed. We continue to strive with this in mind and will always operate with high ethical standards to grow shareholder value. We will also continue to manage with a focus on transparency and fairness, keeping in mind the starting point of our business activities: everything we do is for the patients.
To a bright future for Nascent Biotech.
Sincerely,
Sean Carrick
President & CEO
