BURBANK, Calif., Sept. 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Medolife Rx, Inc. ("Medolife"), a global integrated bioceutical company with R&D, manufacturing, and consumer product distribution, which is a majority owned subsidiary of Quanta, Inc. (OTCQB: QNTA), announced today that it has completed a bi-annual filing with the Ministry of Environment (MOE) of the Dominican Republic (DR), which detailed the expansion of its scorpion reservation and exceeded the expectations of the regulatory body. The MOE expressed further interest in the Company’s flagship product, Escozine®, which has recently renewed its registration in the DR as a natural alternative medicine for oncological treatments.
The bi-annual filing is a requirement of the agreement between the MOE and Medolife. It is intended to communicate updates at the reservation, progress on its build out, observations of studies conducted by the Company, and outlines next steps Medolife will take in its development of the first-of-its-kind reservations in the Neyba and Azua provinces. The Azua region was selected for development as it closely resembles the natural environment of the Rhopalurus princeps species of scorpion. Peptides found in the scorpions are used in many of Medolife’s pharmaceutical and nutraceutical product lines, and the reservation allows for the cultivation and extraction of the peptides in a safe and humane way.
The reservation serves as the Company’s supply pipeline of these peptides, which is known to be one of the most expensive liquids in the world, allowing the Company to produce peptide-based products at a fraction of the cost should it seek supply elsewhere. Especially noteworthy in the filing are details on the build out of the reservation, where the Company has expanded the original space by sixfold. Construction of the laboratory is still underway and the Company plans to continue to develop the land in a way that positively affects the quality of the scorpions.
In addition to surpassing the expectations from the MOE, the Company also received interest from the MOE in purchasing Escozine®, Medolife’s lead drug candidate. The report included clinical observations made by the Company on the potential therapeutic and palliative properties of Escozine® in patients who have tested positive for the SARS-CoV-2 (COVID-19) virus, and preventative properties in hospital staff that reported zero new infections over the course of the clinical observation. The MOE is interested in purchasing Escozine® as a preventative alternative medicine for its employees.
“Our ongoing development of the Azua reservation is essential to Medolife’s further success and maintaining our good standing with the Ministry of Environment is at the core of that process,” said Medolife CEO Dr. Arthur Mikaelian. “We were extremely pleased by their positive response to this filing and are inspired by the level of enthusiasm the regulatory body has for what we are doing, shown by their desire to purchase Escozine®. We have made great strides with the expansion of our scorpion reservation and have done so in an expedited manner that surpassed the expectations of the Ministry. This is no small feat and something our team can be very proud of. We look forward to continuing to work with the Dominican Ministry of Environment as a vital partner in the region and thank them for their continued support.”
The scorpion reservation serves as the Company’s main source of peptide production that is used in most of its pharmaceutical and nutraceutical products. Scorpion venom is one of the most expensive liquids in the world and this facility represents one of the largest reservations of its kind globally. Through it, Medolife owns its supply of these crucial peptides without the reliance and variability of third-party sources.
The peptides produced at the reservation go through the Company’s proprietary polarization methodology that increases their potency up to five times. Scorpion venom has been researched for its potential therapeutic benefits by renowned organizations across the world; however, due to the high cost of the ingredient among other reasons, it has yet to be used in a pharmaceutical product. Medolife is currently conducting clinical trials on Escozine®, its lead drug candidate that contains the polarized scorpion peptides, under a US Food and Drug Administration (FDA) pre-Investigational New Drug Application (Pre-IND) as a treatment for the COVID-19 virus.
About Medolife Rx
Medolife Rx, Inc. is a global biotechnology company with operations in clinical research, manufacturing, and consumer products. Medolife Rx was created through the merger of Medolife, a private company founded by Dr. Arthur Mikaelian who pioneered the unlaying polarization technology that makes the Company’s portfolio of pharmaceutical and nutraceutical products so effective, and Quanta, Inc., a direct-to-consumer wellness product portfolio company. The Company’s lead clinical development programs include Escozine®, a proprietary formulation consisting of small molecule peptides derived from Rhopalurus princeps scorpions which is amplified by the Company’s polarization technology and is being researched as a treatment of various indications, including COVID-19 and cancer. The Company has completed preclinical safety and efficacy research on Escozine® and is pursuing product registration and drug approval in various countries, including the United States and throughout Latin America.
Through its subsidiary QuantRx, Medolife manufactures and distributes consumer wellness and nutraceutical products in high-impact consumer areas such as pain relief, beauty, and general wellness. QuantRx products are designed using Dr. Mikaelian’s polarization technology which applies advances in quantum biology to increase the potency of active ingredients. Currently, QuantRx supports product formulations in pain management, anti-inflammation, skincare, agriculture, nutritional supplements, and plant-based consumables. Ultimately, Quanta's mission is to deliver better, more effective ingredients to elevate product efficacy, reduce waste, and facilitate healthier, more sustainable consumption.
Beyond its own clinical and consumer applications, the polarization technology used by Medolife and its subsidiaries has many potential applications. From potentiating bio-ingredients, to producing more-effective carbon-trapping plants, to transformative anti-aging solutions, Medolife has the opportunity to upend how commercial and pharmaceutical products are made and increase their benefits, while decreasing their chemical concentration.
Forward-Looking Statements
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Contacts:
ir@medoliferx.com
