BURBANK, Calif., Sept. 15, 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 the Company received positive feedback from its bi-annual visit by the Ministry of Environment (MOE) of the Dominican Republic (DR) to its scorpion reservation in the local Neyba province. The formal visit resulted as part of the joint venture partnership between Medolife and the MOE by the surveying commission, where the Company was able to meet certain contract points of the agreement.
The Company has been engaged with the MOE of the DR in a joint venture on the development of a scorpion reservation and investigation on endemic wildlife in the Neyba province since 2008. The facility build-out has been taking place since that time and, per the recently renewed agreement in place with the MOE, the facility was to be visited by the regulatory body bi-annually to assess construction progress, animal safety, and overall compliance with the labor and safety standards of the MOE. The visit took place on September 11, 2021, where The Director of Biodiversity of the MOE, Gabriel Valdez, and his team visited the facility and shared an overall positive assessment of the facility. This assessment included the acknowledgement of three key areas: the high level of training for workers at the reservation, the conclusion that the scorpions being raised in the facility are being properly taken care of, and overall positive socio-economic and health impact the facility is having on the region. This assessment led to the satisfaction of the purpose of the visit and the renewal of the ongoing relationship between the MOE and Medolife.
“Our relationship and partnership with the MOE and government of the DR is vital not only to our ethos of doing good for our community, but to the greater success of Medolife,” said Medolife CEO Dr. Arthur Mikaelian. “We were almost certain that the visit would take place without issue; however, the positivity of the response we received surpassed our own expectations. Director Valdez was so kind in his words and assessment of our progress, and how we are positively impacting the community. We took every step to ensure not only that the scorpions are taken care of, but the people we employ found the job both safe and rewarding. This was observed by the visiting commission, and we couldn’t be more pleased to continue on with our relationship with the MOE.”
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 Company has been working to build out the facility and the demand for Medolife products continues to grow. The peptides produced from the facility go through a polarization process proprietary to Medolife that increases their potency by up to five times. Those peptides are then used in the Company’s nutraceutical product line, Immunapen™, which features four distinct formulations that assist consumers with everyday issues such as stress relief and energy aid, as well as its lead drug candidate Escozine®, which is currently undergoing clinical trials under US Food and Drug Administration (FDA) review under a pre-Investigational New Drug Application (Pre-IND) as a treatment for the SARS-CoV-2 virus that spawned the ongoing COVID-19 pandemic.
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@medolife.com
