Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
BURBANK, Calif., April 06, 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 the Company has received a significant purchase order for its nutraceutical product Immunapen™, a consumer-facing product designed to increase the quality of life of users through enhancing their immune system. The order looks to propel the revenue generation side of the business, where the company sells nutraceutical and wellness products in high-impact areas such as pain management, sleep aid and immune system support.
The Immunapen™ is a natural homeopathic drug that is sold over the counter to general patient populations around the world. It is derived from the Company’s proprietary formulation found in its lead drug candidate Escozine®, which includes a small molecular peptide found in scorpions that is then polarized through a patented process. The formulation is designed to enhance the user’s immune system while providing an energy booster that increases the overall quality of life. Its new and improved pen design is easy-to-use and can be carried on the go.
The purchase order for 1,400 Immunapen™ Originals came from a pharmaceutical wholesaler based in the Republic of Armenia who will distribute the products throughout the region. This is the first purchase order from the wholesaler and the Company hopes that it will be the beginning of a strong relationship. The Company also has developed Immunapen™ Anti-Anxiety, Immunapen™ Sleep, and Immunapen™ Energy & Focus.
“Immunapen is a homeopathic solution that we are extremely proud of and prepared to produce on a mass scale as the world turns its attention to boosting the human immune system,” said Medolife CEO Dr. Arthur Mikaelian. “While we continue our clinical research efforts on Escozine as a drug therapeutic, we are also able to sell Immunapen as a nutraceutical, creating two paths for revenue generation and consumer adoption. Since the onset of the COVID-19 pandemic, we have seen a major increase in interest for immune system support in both the pharmaceutical and nutraceutical categories. After conducting significant pre-clinical research on Escozine, we verified its immune system support properties, which led us to producing this one-of-a-kind, easy-to-use product designed to support and increase quality of life in general patient populations. Although it contains some of the most expensive liquid material in the world, through our own facilities and manufacturing, we are able to produce the pens in an affordable way that makes them attractive to large distributors. We hope this is just the first of many purchase orders of the Immunapen product.”
The market for products that boost the immune system was already one of the strongest segments in functional foods and supplements. Consumers are turning to products that promise to improve their immune systems more than ever during the ongoing COVID-19 pandemic, with companies and brands around the world reporting significant sales spikes. Immune health is one of the top five reasons people take dietary supplements and global market sales of immune health supplements were valued at $14 billion in 2017 and is expected to reach $25 billion by 2025, according to a forecast by Persistence Market Research.
The Company recently announced the expansion of its first-of-its-kind scorpion reservation located in the Dominican Republic (“DR”). The facility allows the Company to safely and humanely cultivate scorpions of various types for the extraction of the peptides necessary to produce Escozine®, which is currently awaiting product registration for the treatment of the COVID-19 virus in the region, as well as its nutraceutical Immunapen™ product line.
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.