WEST CALDWELL, NJ and TORONTO, ON, Jan. 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – EastGate Biotech Corp. (OTC: PINK: ETBI), a pharmaceutical company, that focuses on innovative technological developments specifically in insulin drug delivery for the treatment of Type 2 diabetes, announced today that the company along with its partner EastGate Biotech Pakistan has signed a Memorandum of Understanding (MOU) for the international marketing rights of Anaferon for the treatment of the novel 2019 Coronavirus, commonly called the Wuhan Coronavirus. Stock of the drug is immediately available and EastGate Pakistan is in discussions with various interested parties.
According to Market Research Future (MRFR) the global anti-viral drug market could reach $62.67 billion by 2022.8 Poor diets of high calorie low fibrous food create favorable conditions for the virus to invade the human body. The inability to prevent HIV and other sexually-transmitted diseases has also contributed to the growth prospects. Anapheron can be used before and during an outbreak and should reduce the symptoms, which also leads to a decrease in mortality. The drug is stockpiled and ready to ship.
“Anaferon has the potential to block the protease that the virus needs to replicate,” said Nasir Irfat of Netris Bio Pharma. “By preventing the virus access to the protease enzymes it interrupts the virus from multiplying. The drug can also work in combination with other antiretroviral drugs to enhance the efficacy. What makes Anaferon ideal for the current contagion is that it can be used as a prophylactic and an antiretroviral. Simple solutions are easier to implement and ultimately save lives. We have stock on hand and are ramping up production to ensure availability should it be needed to combat this outbreak.”
“We are excited about expanding our pipeline with our JV partners,” says Anna Gluskin, CEO of EastGate Biotech. “The contagion developing is very unfortunate, but drug companies around the world are uniting, and we are showing that even a small biotech can join the fight. We are doing our part to help keep the world safe. Anaferon has a proven track record of prophylaxis, and will allow doctors to dispense the drug as necessary to any disease clusters that may arise. It also works side by side with other antiretrovirals to reduce the severity of the disease. We are excited because not only can it help reduce the mortality of the virus but we believe it will help stop the spread as those family members of the infected are able to receive it prophylactically. We have been working on this project for some time and very excited to see it launch at a time when it can do so much good. We have high hopes that the distribution of Anaferon is going to change the treatment paradigm in dealing with this virus,” concluded Anna Gluskin.
“This move to market Anaferon is a continuation of our paradigm changing strategy of innovative drug development,” stated Bill Abajian, Chief Operating Officer of EastGate Biotech. “This latest move also demonstrates our commitment to execution. The MOU allows us to generate sales in our JV ahead of our widely expected approval of Insugin. This is also in line with our strategy of bringing in products with massive potential. As a small biotech we are more nimble and can adapt to changes in the marketplace much quicker. We have an approved product to address the potential contagion in our marketplace. This will also generate awareness of our JV and allow us to achieve operational efficiency ahead of our largest anticipated product launch.”
About Anaferon
Anaferon was originally developed in Russia where it saw its first widespread use for the treatment of acute viral and bacterial infections. Eventually, it was tested as a prophylaxis in adults and children. Anaferon is part of a drug class called interferon. When a cell is infected with a virus it releases interferons also known as cytokines which are signaling proteins that essentially warn nearby cells to heighten their anti-viral defenses. When a cell is under viral attack, one of cytokines released is Interferon gamma (IFN-y) which is the primary activator of macrophages, natural killer cells, and neutrophils. Anaferon is a released-active form of antibody that targets the stimulation of INF-y and activation of the innate immune response.
About 2019 Novel Coronavirus
The 2019 Novel Coronavirus (2019-nCoV) was identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China.1 The origin of 2019-nCoV is uncertain and it is unclear how easily the virus spreads.2 2019-nCov is thought to be transmitted person to person through respiratory droplets, commonly resulting from coughing sneezing and close personal contact.3 Coronaviruses are a large family of viruses, some causing illness in people and others that circulate among animals.4 For confirmed 2019-nCoV infections, symptoms have included fever, cough and shortness of breath.5 It is believed that symptoms of 2019-nCoV may appear in as few as two days or as long as 14 days prior to exposure, and that symptoms in patients have ranged from non-existent to severe and fatal.6 There are currently no known anti-viral treatments effective at suppressing 2019-nCoV.7
About EastGate Biotech
EastGate Biotech focuses on innovative technological developments and produces and distributes innovative drug compounds and healthy nutraceuticals that are based on natural therapies absorbed by the body. We utilize advanced nanotechnologies and alternative delivery systems that take difficult to deliver compounds and deliver them using our nanotechnology platform which ultimately increase the bioavailability to the body. Using our methods of delivery provides healthy alternatives to conventional pharmaceuticals that all-too-often create dangerous side-effects and unexpected consequences for those trying to attain and maintain a healthy lifestyle. EastGate's wholly owned subsidiary Omni Surgery and Anti-Aging Centre is the first of many surgery centers to come under the Omni umbrella as we plan to roll up existing business under the Omni brand and expand our footprint globally.
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release.
The words "anticipates", "plans", "expects", "indicate", "intend", "scheduled", "estimates", "forecasts", "focus", "guidance", "initiative", "model", "methodology", "outlook", "potential", "projected", "pursue", "strategy", "study", "targets", or "believes", or variations of or similar such words and phrases or statements that certain actions, events or results "may", "could", "would", or "should", "might", or "way forward", "will be taken", "will occur" or "will be achieved" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. The risks, estimates, models and assumptions contained or incorporated by reference in this release, include those identified from time to time in the reports filed by EastGate with the SEC, which should be considered together with any forward-looking statement. EastGate undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
References:
- Novel Coronavirus 2019, Wuhan, China. (2020, January 29). Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/index.html
- Novel Coronavirus 2019, Wuhan, China. (2020, January 24). Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/about/transmission.html
- Novel Coronavirus 2019, Wuhan, China. (2020, January 29). Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/faq.html
- Novel Coronavirus 2019, Wuhan, China. (2020, January 29). Retrieved from https://www.cdc.gov/coronavirus/about/symptoms.html
- Novel Coronavirus 2019, Wuhan, China. (2020, January 29). Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/summary.html#anchor_1580079137454
- Novel Coronavirus 2019, Wuhan, China. (2020, January 29). Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/hcp/clinical-criteria.html
- Novel Coronavirus 2019, Wuhan, China. (2020, January 29). Retrieved from https://www.cdc.gov/coronavirus/2019-ncov/about/prevention-treatment.html
- Anti-viral Drugs Market Size Estimated to Upsurge at 6.9% CAGR to Reach a Valuation of USD 62.67 billion by 2022, Pune, India. (2020, January 29). Retrieved from https://www.globenewswire.com/news-release/2019/07/26/1892344/0/en/Anti-viral-Drugs-Market-Size-Estimated-to-Upsurge-at-6-9-CAGR-to-Reach-a-Valuation-of-USD-62-67-Billion-by-2022-States-Market-Research-Future.html
CONTACT: CONTACT: Rose Perri 1-647-692-0652 Email: information@eastgatepharmaceuticals.com Website: www.EastGateBiotech.com