Biopharmaceutics Announces Cancer Drug Joint Venture Revenue Percentage.BELLPORT, N.Y.--(BUSINESS WIRE)--Sept. 26, 1996--Biopharmaceutics, Inc. (OCTBB:BOPH BOPH Board of Parole Hearings (Canada; also seen as BPH) ) announced yesterday that it entered into a Joint Venture with Advanced Biological Systems, Inc., Salt Lake City, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADBS ADBS Association des Professionnels de l'Information et de la Documentation ADBS All Day Breakfast Show (podcast) ADBS Advanced Data Broadcasting System ADBS Action Driven Balanced Scorecard ), for the final development and filing of all FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. required documents for Mitolactol(TM). Under this Agreement, Biopharmaceutics will receive 60% of the profits that may be generated by the Joint Venture and ADBS will receive 40% of the profits that may be generated until Biopharmaceutics has received $2 million. Thereafter, the profits will be split 55% for Biopharmaceutics and 45% for ADBS. Biopharmaceutics will not be responsible for any financial contribution to the Joint Venture. All costs of the Joint Venture, which are estimated at approximately $1 million, will be the responsibility of ADBS. CONTACT: Biopharmaceutics, Inc., Bellport Stuart Fine, 516/286-5800 |
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