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

Rhea-AI Summary

Medolife Rx, a subsidiary of Quanta (OTC PINK: QNTA), announced CEO Dr. Arthur Mikaelian was awarded by the National District of Civil Defense in the Dominican Republic for his support in combatting COVID-19 with Escozine®. The company has registered Escozine® as an alternative medicine for cancer treatment in the DR and Latin America, increasing production to meet demand. Medolife is also seeking approval for Phase II clinical trials for Escozine® as a COVID-19 treatment. This recognition highlights the company's commitment to impactful health solutions.

Positive

• CEO recognized with achievement award for contributions to COVID-19 solutions.
• Escozine® registered as an alternative cancer treatment in DR and Latin America.
• Production of Escozine® ramped up to meet rising demand.
• Company pursuing Phase II clinical trials for Escozine® for COVID-19.

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• None.

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/

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.

Forward-Looking Statements

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.

Contacts:

Tom Nelson

https://ir.quantrx.com/

818-659-8052

Kyle Porter
medolife@cmwmedia.com
858-264-6600

FAQ

What award did Dr. Arthur Mikaelian receive?

Dr. Arthur Mikaelian received an achievement award from the National District of Civil Defense for his support in developing Escozine® as a treatment for COVID-19.

What is Escozine® used for?

Escozine® is being researched as a treatment for COVID-19 and has also been registered as an alternative medicine for various cancers in the Dominican Republic.

Is Medolife Rx involved in clinical trials for COVID-19?

Yes, Medolife Rx is working to initiate Phase II clinical trials for Escozine® as a treatment for COVID-19 after receiving ethical committee approval.

How is Quanta (QNTA) related to Medolife Rx?

Quanta, Inc. is the majority owner of Medolife Rx, which operates as a global biotechnology company.