FREEHOLD, N.J., Sept. 29, 2005 (PRIMEZONE) -- New Life Scientific, Inc. (OTCBB:NWLF) announced Thursday it will expand its services to offer market research and regulatory services through Pharma Trials International, Inc., its wholly owned subsidiary.
Pharma Trials International, Inc. will expand its services to offer market research and regulatory services, market needs, market trends, new government regulations regarding the importation of drugs, statistics and market analysis including the sale of drugs in certain therapeutic categories. NWLF also will offer consultations regarding strategies of bringing products to the market in Eastern Europe as a primary market entry point, as well as strategies to grow existing markets. All of the above services will be available for OTC and prescription drugs and devices. NWLF will provide the expertise of its team of advisors to support the newly planned marketing efforts.
Wieslaw J. Bochenek, M.D., Ph.D., F.A.C.P. president of New Life Scientific, Inc. commented, "We believe that our position in Eastern Europe will allow us to offer a wider range of services than simply as a contract research organization. In meetings with various companies interested in our clinical trial capabilities, we have learned that these same companies are eager to pursue the research and marketing abilities we are developing."
About New Life Scientific, Inc. (NWLF):
NWLF recently acquired Novo Life Scientific (Ukraine), the holder of a cooperation agreement with the Institute of Molecular Biology and Genetics of the Ukrainian Academy of Sciences (IMBG). Nova Life Scientific, in conjunction with IMBG, is highly regarded for its extensive knowledge and expertise in the fields of molecular cell biology and molecular genetics research, intends to develop and market certain stem cell related products and therapies. Novo Life Scientific (Ukraine) has been researching and is in the process of developing the business model for the creation of stem cell treatment facilities to be based in Europe. The company hopes to analyze and share its research regarding stem cell therapy and tissue regeneration with other scientific groups and to take advantage of the extensive research previously conducted in Ukraine by IMBG.
New Life Scientific, Inc. has also recently acquired Pharma Trials (PTI), a provider of services in the areas of clinical trials, market research, and the regulatory approval of products for pharmaceutical companies and contract research organizations (CROs). Additionally, New Life has signed a joint venture agreement with InvaMed Pharma and created a joint venture company to pursue pharmaceutical product development.
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