$QNTA Medolife Rx Announces New Extraction Facility and Scientific Team in Place
https://www.globenewswire.com/news-release/20...Place.html
BURBANK, Calif., May 13, 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 has secured a new extraction facility in the Dominican Republic (DR) as well as onboarded scientific staff in order to increase production of Escozine® to meet rising demand following the Company’s recent product registration as a natural alternative cancer treatment.
As announced, the Company has been scaling production of its lead drug candidate Escozine®, which is derived from peptides found in scorpions that are then polarized through a patented process to increase efficacy. The peptides are extracted from the scorpions in a safe and humane way through a scientific process conducted in a clean laboratory setting. As such, the Company worked with the Ministry of Environment and Natural Resources in the DR to identify and garner the necessary approvals for an extraction facility to support this production. After receiving said approvals, the Company has now onboarded a scientific team at the facility who is trained and ready to begin extraction of the peptides. This team will increase Medolife’s current capacity by around ten-fold, with the capability of adding a night shift and later doubling that increase in production.
“Our goal is to not only sell approved pharmaceutical medicines and functional wellness products, but to own our supply chain, which is rare in our space, and this facility adds to that construct,” said Medolife CEO Dr. Arthur Mikaelian. “Paired with our first-of-its-kind scorpion reservation, this extraction facility will allow us to produce the peptides necessary to create most of our pharmaceutical products in-house. That means increased margins and a decreased final cost, creating a larger market opportunity in under-developed or developing nations.”
Medolife has been researching Escozine® as a potential treatment for COVID-19 in clinical research programs in both the United States and the DR. The Company has completed numerous safety and efficacy studies on the drug, and filed a final data set with the US Food and Drug Administration (FDA) as it relates to an Investigational New Drug (IND) filing on Escozine®. The Company is in the process of registration for medical ethics committee approval to conduct double-blind placebo human studies on Escozine®, which would mark a substantial step forward in Escozine’s path toward worldwide registration and adoption.
Furthermore, the Company will continue to operate in the nutraceutical space with consumer products in general wellness, stress relief, anxiety treatment, and pain management.
https://www.globenewswire.com/news-release/20...Place.html
BURBANK, Calif., May 13, 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 has secured a new extraction facility in the Dominican Republic (DR) as well as onboarded scientific staff in order to increase production of Escozine® to meet rising demand following the Company’s recent product registration as a natural alternative cancer treatment. As announced, the Company has been scaling production of its lead drug candidate Escozine®, which is derived from peptides found in scorpions that are then polarized through a patented process to increase efficacy. The peptides are extracted from the scorpions in a safe and humane way through a scientific process conducted in a clean laboratory setting. As such, the Company worked with the Ministry of Environment and Natural Resources in the DR to identify and garner the necessary approvals for an extraction facility to support this production. After receiving said approvals, the Company has now onboarded a scientific team at the facility who is trained and ready to begin extraction of the peptides. This team will increase Medolife’s current capacity by around ten-fold, with the capability of adding a night shift and later doubling that increase in production.
“Our goal is to not only sell approved pharmaceutical medicines and functional wellness products, but to own our supply chain, which is rare in our space, and this facility adds to that construct,” said Medolife CEO Dr. Arthur Mikaelian. “Paired with our first-of-its-kind scorpion reservation, this extraction facility will allow us to produce the peptides necessary to create most of our pharmaceutical products in-house. That means increased margins and a decreased final cost, creating a larger market opportunity in under-developed or developing nations.”
Medolife has been researching Escozine® as a potential treatment for COVID-19 in clinical research programs in both the United States and the DR. The Company has completed numerous safety and efficacy studies on the drug, and filed a final data set with the US Food and Drug Administration (FDA) as it relates to an Investigational New Drug (IND) filing on Escozine®. The Company is in the process of registration for medical ethics committee approval to conduct double-blind placebo human studies on Escozine®, which would mark a substantial step forward in Escozine’s path toward worldwide registration and adoption.
Furthermore, the Company will continue to operate in the nutraceutical space with consumer products in general wellness, stress relief, anxiety treatment, and pain management.
