BURBANK, Calif., Oct. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Medolife Rx, Inc. ("Medolife"), a global integrated biopharmaceutical company with R&D, manufacturing, and consumer product distribution, which is a majority owned subsidiary of Quanta, Inc. (OTCQB: QNTA), announced today that its CEO, Dr Arthur Mikaelian, had a successful meeting with the Vice President of the Dominican Republic (DR), Raquel Peña de Antuña, where the official expressed interest in introducing Escozine® into the government’s COVID-19 program after reviewing results from the Company’s study.
In an in-person meeting, which took place at government facility in Santo Domingo on 10/13/21, the Company presented findings from its study on the effects of Escozine on 450 patients who had tested positive for COVID-19. After reviewing the findings, the Vice President of the DR, who has been tasked with overseeing the COVID-19 response by the government of the DR, expressed appreciation for the support of the country by Medolife and her belief in the importance of Escozine for the country. Further, she shared that she would be supportive of immediately forming a government committee in the DR that would expedite the processing of the product, allowing for rapid distribution of Escozine® throughout the country. A committee could be organized as quickly as within a week. Beyond the distribution of Escozine® throughout the DR, the Vice President also expressed a strong desire to solidify an agreement to introduce the benefits and effectiveness of Escozine® as a COVID-19 therapy to other countries. Finally, the VP shared that she will look to make plans to visit the Company’s first-of-its-kind scorpion reservation and manufacturing facility.
“This creates an opportunity for Medolife to demonstrate Escozine’s effectiveness in the country as a therapeutic and palliative medicine,” said Medolife CEO Dr. Arthur Mikaelian. “Through our study on Escozine®, we were able to show that it diminishes some of the side-effects of vaccines. This creates more confidence by the general population and further aids governments in implementation of vaccine programs. Beyond the opportunity for us to help the population of the DR, an approval of this kind will open the door to further negotiations for distribution in other Latin American countries. Overall, the outcome of the meeting was very positive, and we look forward to working closer with the Vice President and government of the DR.”
Medolife’s CEO also shared details of some of the other products that Company produces such as its line of Immunapens, which are formulated into four effects-based products: energy and focus, stress relief, sleep aid, and general immune support. The government official shared additional enthusiasm for those products and her interest in their distribution as well. Mikaelian also discussed how the Company could assist in the financial applications of such a large Escozine® distribution through philanthropic initiatives that positively support larger health-related needs of the government healthcare system.
The COVID-19 pandemic has continued to wreak havoc on state healthcare systems globally, adding additional pressure than in normal circumstances. While cases continued to be monitored closely, the Company and the government will work together to prepare for any additional waves of infection rates, through the introduction of Escozine® and promotion of vaccines.
This agreement by the government of the DR to distribute Escozine® creates an opportunity for Medolife to generate revenues on its lead drug candidate, while simultaneously completing the US FDA requirements for product approval in the United States.
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
