$QNTA Medolife Rx CEO Receives Achievement Award F

$QNTA Medolife Rx CEO Receives Achievement Award From Regulatory Agency in the Dominican Republic for Work on COVID-19 Treatment

https://finance.yahoo.com/news/medolife-rx-ce...00358.html

BURBANK, Calif., May 18, 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 its CEO Dr. Arthur Mikaelian received an achievement award from the “Defensa Civil Republica Dominicana” (The National District of Civil Defense) for his unconditional support of the cause of the agency and his work on Escozine® as a treatment for the SARS-CoV-2 (COVID-19) virus in the Dominican Republic (DR). The award was formally presented at a ceremony on Friday, May 14, where local leaders, such as the mayor, attended to recognize Dr. Mikaelian for his work.

Medolife has a very close relationship with the federal government of the DR, including the Ministries of Health and Environment and Natural Resources. The DR is home to the Company’s first-of-its-kind scorpion reservation as well as its extract and research and development facilities. Recently, the Company was awarded product registration on Escozine® as an alternative medicine for the treatment of various forms of cancer throughout the DR and Latin America. It has since been ramping up production in order to meet the demand that has arisen in the region by the registration. Additionally, the Company is working to garner medical ethics committee approval to move forward with Phase II clinical trials in the DR on Escozine® as a treatment for COVID-19. All this work and investment in the community resulted in this award, which was given by the National District of Civil Defense, whose main objective is to create a response to natural disasters such as floods and earthquakes, or health and economic disasters such as the COVID-19 pandemic.

“It is both humbling and a great honor to receive this award,” Dr. Mikaelian said. “When we set out on our mission to provide alternative and breakthrough medical solutions to the world, it was not for fame or accolades, but to make a better world through the power of science. We have done so much great work in the DR and hope to continue to be a partner with the country and community in order to create lasting medical solutions that enrich the lives of its population. We consider the DR a second home and appreciate the recognition for our work in the country.”

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 an Investigational New Drug (IND) filing on Escozine® through the US Food and Drug Administration (FDA) and is awaiting a response. In the DR, and upon approval from the medical ethics committee, it will commence a double-blind placebo human study on Escozine®, which would mark a substantial step forward in Escozine’s path toward worldwide registration and adoption.

For more information on the agency who presented the award, please visit: http://www.defensacivil.gob.do/