BURBANK, Calif., Nov. 03, 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 its successful uplisting from the OTC Pink Sheets to the OTCQB Venture Market (the “OTCQB”). Quanta’s stock symbol will remain QNTA on the OTCQB while the Company awaits a name and symbol change to be approved by FINRA.
“We have been working diligently to complete the proper filings and audits necessary for this uplisting, and we’re happy to announce that we have been approved to trade on the OTCQB Market,” said Medolife CEO Dr. Arthur Mikaelian. “Completing this uplisting allows us greater visibility within the investment community, and enables us to target larger investors and bankers whose requirements include being current in our reporting. The OTCQB Market is one step away from the highest tier on the OTC Markets, and reaching it is yet another milestone in our efforts to unlock shareholder value through proper reporting and financial transparency. We believe it will help us to broaden our shareholder base, and propel our Company forward as a regulated and viable investment.”
The OTCQB Venture Market is designed for early-stage and developing companies located both in the United States and abroad. To be eligible for listing on the OTCQB, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must also meet a minimum bid price test, which the Company meets. The OTCQB is recognized by the U.S. Securities and Exchange Commission as an established public market and provides current public information to investors that need to analyze, value and trade securities.
In recent months, the Company has demonstrated tremendous progress in both its clinical development program as well as its direct-to-consumer nutraceutical product portfolio. It is in the process of completing a pharmacokinetic (PK) study on its lead drug candidate Escozine® per an instructional response from the US Food and Drug Administration (FDA) as it relates to the Company’s pre-Investigational New Drug (Pre-IND) application for Escozine®. Additionally, it has ramped up its sales and marketing initiatives on its consumer products including the attendance and sponsorship of the Tony Hawk Vert Alert event, where it showcased its revolutionary line of pain relief products and introduced its Immunapen™ line of products.
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 Aelia, Medolife manufactures and distributes consumer wellness and nutraceutical products in high-impact consumer areas such as pain relief, beauty, and general wellness. Aelia products are designed using Dr. Mikaelian’s polarization technology which applies advances in quantum biology to increase the potency of active ingredients. Currently, Aelia 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
