$QNTA Medolife Rx Breaks Ground on Lab Facility and Increases Scorpion Count at First-of-Its-Kind Reservation in the Dominican Republic
https://finance.yahoo.com/news/medolife-rx-br...00521.html
BURBANK, Calif., April 29, 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 it has broken ground on its lab facility in the Dominican Republic (DR) as well as increased the quantity of scorpions on the reservation, in preparation for mass production of its pharmaceutical and nutraceutical product lines.
The first-of-its-kind reservation is located in a remote area of the DR and is the ideal climate and terrain to support the healthy cultivation of various scorpions. Certain peptides found in scorpions are used in the formulation of many of the Company’s pharmaceutical and nutraceutical products. The facility, which is currently under construction on the reservation, will be approximately 250 square meters and is expandable as needed in order to meet any increases in demand. It will serve as the Company’s cGMP- and ISO-certified research lab where it will extract the peptides and conduct ongoing research and development on the clinical and wellness applications of Escozine® and other formulations. Its addition will decrease the cost of venom production, enabling the Company to lower the final cost of its products, which will increase margins and the marketability of the products. This expansion will increase the reservation’s capacity ten-fold and the Company’s goal is to be able to produce one million doses of Escozine® per month in the near term.
As the Company furthers its clinical trials and nutraceutical sales of Escozine®, it anticipates that demand will increase exponentially. As such, it has worked with the Ministry of Environment in the DR to secure the appropriate licensing and approvals for the expansion of the reservation and the building of the lab facility. Beyond the use in its own R&D and manufacturing efforts, additional cultivation capacity could be used as an alternative revenue source with scorpion venom being coined as “one the world’s most expensive liquids” by Business Insider.
“Having an integrated supply chain of peptides was not only a strategic decision, but it is also a complete differentiator for our company as a global healthcare player,” said Medolife CEO Dr. Arthur Mikaelian. “There has been significant ongoing research into the potential therapeutic benefits of scorpion venom for years and this facility will position us as essentially the world’s largest cultivator and researcher of these highly specific peptides. With the additional scorpions as well as the integrated lab facility, we will be able to meet the demand for our products while controlling costs and furthering our research and development efforts on the scorpion peptides. We also have the opportunity to monetize any additional serum we extract, creating a whole new revenue opportunity for the company.”
Medolife has been researching Escozine®, a proprietary formulation consisting of small molecule peptides derived from Rhopalurus princeps scorpions, for some time now. The peptides are amplified by the Company’s polarization technology and the Company has clinical trials currently taking place on the product, focusing on treatment of both cancer and COVID-19. In recent months, the Company has announced results from numerous safety and efficacy studies as well as filed its final data set with the US Food and Drug Administration (FDA) as it relates to an Investigational New Drug (IND) filing on Escozine®.
https://finance.yahoo.com/news/medolife-rx-br...00521.html
BURBANK, Calif., April 29, 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 it has broken ground on its lab facility in the Dominican Republic (DR) as well as increased the quantity of scorpions on the reservation, in preparation for mass production of its pharmaceutical and nutraceutical product lines. The first-of-its-kind reservation is located in a remote area of the DR and is the ideal climate and terrain to support the healthy cultivation of various scorpions. Certain peptides found in scorpions are used in the formulation of many of the Company’s pharmaceutical and nutraceutical products. The facility, which is currently under construction on the reservation, will be approximately 250 square meters and is expandable as needed in order to meet any increases in demand. It will serve as the Company’s cGMP- and ISO-certified research lab where it will extract the peptides and conduct ongoing research and development on the clinical and wellness applications of Escozine® and other formulations. Its addition will decrease the cost of venom production, enabling the Company to lower the final cost of its products, which will increase margins and the marketability of the products. This expansion will increase the reservation’s capacity ten-fold and the Company’s goal is to be able to produce one million doses of Escozine® per month in the near term.
As the Company furthers its clinical trials and nutraceutical sales of Escozine®, it anticipates that demand will increase exponentially. As such, it has worked with the Ministry of Environment in the DR to secure the appropriate licensing and approvals for the expansion of the reservation and the building of the lab facility. Beyond the use in its own R&D and manufacturing efforts, additional cultivation capacity could be used as an alternative revenue source with scorpion venom being coined as “one the world’s most expensive liquids” by Business Insider.
“Having an integrated supply chain of peptides was not only a strategic decision, but it is also a complete differentiator for our company as a global healthcare player,” said Medolife CEO Dr. Arthur Mikaelian. “There has been significant ongoing research into the potential therapeutic benefits of scorpion venom for years and this facility will position us as essentially the world’s largest cultivator and researcher of these highly specific peptides. With the additional scorpions as well as the integrated lab facility, we will be able to meet the demand for our products while controlling costs and furthering our research and development efforts on the scorpion peptides. We also have the opportunity to monetize any additional serum we extract, creating a whole new revenue opportunity for the company.”
Medolife has been researching Escozine®, a proprietary formulation consisting of small molecule peptides derived from Rhopalurus princeps scorpions, for some time now. The peptides are amplified by the Company’s polarization technology and the Company has clinical trials currently taking place on the product, focusing on treatment of both cancer and COVID-19. In recent months, the Company has announced results from numerous safety and efficacy studies as well as filed its final data set with the US Food and Drug Administration (FDA) as it relates to an Investigational New Drug (IND) filing on Escozine®.
