Medolife Rx Successfully Produces Medical Batch of Escozine Through In-house Facilities, Ready for Submission to DR Ministry of Health for Further Trials
BURBANK, Calif., May 27, 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 that it successfully produced a pharmaceutical-quality batch of its lead drug candidate Escozine® through its production footprint in the Dominican Republic (DR). The Company is ready to submit the batch to the Ministry of Health, its next step in seeking approval for further clinical trials in the country.
Through an exclusive relationship with the government of the DR, Medolife owns a first-of-its-kind scorpion reservation and research facility, as well as an extraction facility nearby where it is able to humanely extract the peptides used in Escozine®. After further building out and onboarding of essential staff, the Company has successfully produced a full batch of Escozine®. This batch specifically ran for submission to the Ministry of Health in the DR. This is the next step in achieving approval from the regulatory body to continue clinical trials on Escozine® as a treatment for the SARS-CoV-2 (COVID-19) virus. Once the batch is reviewed and the Medical Bioethics committee issues approval of the study’s construct, Medolife plans to conduct a Phase III double-blind placebo clinical trial, seeking regulatory approval of the drug. Beyond its COVID-19 clinical program on Escozine®, the product was also recently awarded product re-registration as an alternative medicine for the treatment of cancer.
“A key aspect of our strategic plan for Escozine is owning the supply chain of its production, enabling us to decrease the input costs, in turn reducing the cost of the final product and making it accessible to larger audiences,” said Medolife CEO Dr. Arthur Mikaelian. “We have been working tirelessly to build out this supply chain including expanding our reservation, seeking certifications of our R&D lab and extraction facility, and hiring the right scientific team members in order to scale production. This batch marks a truly pivotal milestone for our company. With this, we have successfully shown that we have the infrastructure in place to research and develop products such as Escozine, and manufacture them to pharmaceutical standards. This is a major differentiator for us as a pharmaceutical company, and one that we believe sets us up for further success in the future.”
The Company has conducted clinical studies on Escozine® as a therapeutic for both COVID-19 and multiple forms of cancer, including ovarian and bladder cancer. The Company is currently awaiting a response on its pre-IND filing with the U.S. Food and Drug Administration (FDA), which it expects in mid-June 2021. Medolife’s drug candidates and nutraceutical products utilize a patented polarization technology developed by Dr. Mikaelian that increases the potency of single molecules and complex compounds.
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.
Source: Quanta, Inc.
Released May 27, 2021