Mountain Valley MD Holdings Provides Business Update, Results of Shareholder Meeting
Mountain Valley MD Holdings Inc. (MVMD) provided a business update on September 29, 2021, detailing advancements in oncology research, husbandry animal trials, and the development of its ivermectin formulations.
Key initiatives include expanded oncology trials for triple-negative breast cancer and melanoma, successful husbandry trials in Bangladesh with Ivectosol™ 1%, and the introduction of Ivectol™ for generic ivermectin production. The company plans commercialization in 2022 pending approvals. Shareholders approved board re-elections and an independent auditor but rejected a share consolidation proposal.
- Successful completion of husbandry animal trials in Bangladesh, paving the way for commercialization of Ivectosol™ 1%.
- Expansion of oncology studies for various cancers, demonstrating potential progress in research.
- Interest in Ivectol™ suggests demand for ivermectin formulations and opens opportunities for market entry.
- Shareholder rejection of the common share consolidation proposal, which could limit future financial flexibility.
TORONTO, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Mountain Valley MD Holdings Inc. (the “Company” or “MVMD”) (CSE: MVMD) (OTCQX: MVMDF) (FRA: 20MP) is pleased to provide a business update on key initiatives.
ONCOLOGY
- As announced on May 3, 2021, pre-clinical trials for triple-negative breast cancer, metastatic melanoma and Lewis Lung Carcinoma were conducted over the past several months. The results of the research conducted presented some noteworthy exploratory findings that have resulted in MVMD expanding its oncology work across these tumor types with further research studies being executed.
- The Company is continuing to expand its relationships with experts in clinical and research focused oncology to pursue advanced understanding of Quicksol™️ technology applications across a broader array of insoluble molecules that have documented anti-cancer effects from prior independent research.
HUSBANDRY ANIMALS
- The Company has completed the scheduled husbandry animal trials in Bangladesh, previously announced on March 16, 2021, that were conducted with MVMD’s injectable solubilized Ivermectin technology, Ivectosol™️
1% . - The studies were conducted under the supervision of The People's Republic of Bangladesh’s Ministry of Fisheries & Livestock and have informed the requirements for final commercialization pathway. This will include working to complete and provide Ivectosol™️
1% extended stability data and completion in parallel of dosing and formulation testing across a broad spectrum of animal species. - The Company has commenced its commercialization planning with local partners inside Bangladesh in anticipation of all necessary government approvals for full Ivectosol™️
1% manufacturing and product distribution in 2022.
FARMED FISH
- The Company has been working with The People's Republic of Bangladesh’s Ministry of Fisheries & Livestock on a unique project to evaluate the ability to administer its Ivectosol™
1% formula in a farmed fish environment to explore its potential to impact positive health outcomes. - MVMD invented a novel fish food application that enables Ivectosol™
1% to be delivered to fish in an aqueous environment, with the objective of helping to prevent parasitic outbreaks that cause mortality and limit healthy growth of fish.
IVECTOL™
- MVMD has garnered interest in its work with the ivermectin drug molecule and has had determined that there is immediate demand for generic ivermectin while the Company develops out its solubilized Ivectosol™
1% applications. - To satisfy current business development discussions and requests for large scale production of ivermectin tablets, MVMD has coordinated pharmaceutical production of its own branded ivermectin product called Ivectol™, which is packaged in a 20-tablet box containing Ivermectin USP 12 mg tablets.
- Ivectol™ is finalizing registrations in key target markets to allow for export, as well as import and sale in approved countries.
“We believe our science progress continues to validate the pathway we are pursuing across broad husbandry animal and human applications,” stated Dennis Hancock, President and CEO of Mountain Valley MD. “I am very proud of the team and our research partners for this continuing progress across multiple lanes of innovation. We couldn’t be more honoured to drive forward this important work.”
The Company will provide further updates on its trials and developments as they become available.
RESULTS OF SHAREHOLDER MEETING
The Company also announces the results of its annual general and special meeting of its shareholders, held today, September 29, 2021, as follows:
- The Company’s shareholders re-elected Dennis Hancock, Kevin Puloski, Nancy Richardson and Paul Lockhard to its board of directors, also fixing the board at four (4) directors;
- Shareholders appointed PricewaterhouseCoopers LLP, as the Company’s independent auditors;
- Shareholders approved by special resolution the continuance of the Company from the Province of British Columbia to the Province of Ontario as well as the by-laws which would take effect conditional upon the continuance;
- Shareholders approved by ordinary resolution an amended
10% rolling stock option plan, which is substantially the same as the Company’s previous stock option plan, which was sought pre-emptively in the event of a future up-listing by the Company; and - A special resolution for a common share consolidation, intended to provide for flexibility in connection with a potential future up-listing strategy as determined by the board of directors, on up to a 10:1 basis, failed to pass.
The presentation can be found on MVMD’s website at www.mountainvalleymd.com and is titled “MVMD - AGM Business Presentation”.
ABOUT MOUNTAIN VALLEY MD HOLDINGS INC.
Mountain Valley MD is building a world-class organization centered around the implementation and licensing of its key technologies to global pharmaceutical, vaccine and nutraceutical third parties:
- patented Quicksome™ oral drug formulation and delivery technologies,
- patented Quicksol™ solubility formulation technology
Consistent with its vision towards “More Life”, MVMD applies its Quicksome™ and Quicksol™ technologies to its work for advanced delivery of vaccines and pharmaceutical drugs as well as the development of products for pain management, weight loss, energy, focus, sleep, anxiety, and more.
MVMD’s patented Quicksome™ desiccation technology utilizes advanced liposomes and other stabilizing molecules to encapsulate and formulate active ingredients into highly efficient product formats that are consumed orally. The result is a new generation of product formulations that could be capable of delivering vaccines, drugs and nutraceuticals into the body faster, with greater impact, efficiency and accuracy.
MVMD’s patented Quicksol™ technology covers all highly solubilized macrocyclic lactones that could be effectively applied in multiple viral applications that could positively impact human and animal health globally.
For more Company information and contact details, visit www.mountainvalleymd.com.
SOURCE: Mountain Valley MD Holdings Inc.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company.
The Company is making forward-looking statements, including but not limited to with respect to various matters related to the Agreement, including: work, expanding relationships, timing and next steps in connection with its oncology work; work, timing and next steps in connection with its husbandry work; the final commercialization pathway and commercialization planning regarding its husbandry animal work following studies conducted under the supervision of The People's Republic of Bangladesh’s Ministry of Fisheries & Livestock, and the steps related thereto, as well as timing for manufacturing and product distribution; further work related to the administration of Ivectosol™
The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
Neither the CSE nor OTCQX has reviewed or approved the contents of this press release.
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