Medolife Rx Announces Changes in Management, Puts New Executive Leadership in Place
BURBANK, Calif., May 11, 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. (OTC PINK: QNTA), announced today its President Philip Sands will be stepping down from the position, completing the planned final step in the merger with Quanta. Stepping into his place, Medolife CEO Dr. Arthur Mikaelian will act as the interim President and Chairman of the Board, while continuing in his role as CEO.
“We are excited to have completed this transition, which was one of the final steps in completing the merger of Medolife into Quanta, forming our new company Medolife Rx,” said Medolife CEO Dr. Arthur Mikaelian. “We have been working very hard to align the pieces necessary to ensure our success as a global pharmaceutical and nutraceutical company, and this marks a new moment in the company’s future.”
“Our opportunity has never been greater, and we appreciate those who continue to follow our Company and believe in our future,” added Dr. Mikaelian.
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. Mikaelian who pioneered the underlaying 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 for various indications, including the SARS-CoV-2 (COVID-19) virus and cancer. The Company has completed preclinical safety and efficacy research on Escozine® and recently announced product registration in the Dominican Republic (DR), allowing for sales of Escozine® throughout Latin America.
Furthermore, the Company will continue to operate in the nutraceutical space with consumer products in general wellness, sleep-aid, anxiety treatment, and pain management.
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 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. 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.
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.
Released May 11, 2021