On May 26, 2023 Nascent Biotech, Inc. (OTCQB:NBIO) ("Nascent Biotech", "Nascent", or the "Company"), a clinical-stage biotechnology Company whose business is focused in therapeutic monoclonal antibody space, reported that the Company and China based BioRay Pharmaceutical Co have mutually agreed to terminate the license agreement entered into on March 31, 2021 (Press release, Nascent Biotech, MAY 27, 2023, View Source [SID1234632167]). Nascent gains back worldwide marketing and distribution rights previously licensed to BioRay. Management concludes with gaining back the worldwide rights, the company is in a stronger position going forward.

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