Medolife Rx Furthers Expansion of Scorpion Reservation; Prepares for Mass Production of Escozine Required Upon Product Registration

Rhea-AI Summary

Medolife Rx, a subsidiary of Quanta (OTC PINK: QNTA), has expanded its scorpion reservation in the Dominican Republic by 6,350 sq. meters, enhancing the cultivation of peptides for its lead drug candidate, Escozine®. This drug targets SARS-CoV-2 and is awaiting registration. The region's ideal climate supports scorpion populations, with an estimated demand for Escozine® reaching one million doses post-registration. Additionally, the company plans to establish a lab to reduce production costs and integrate its supply chain, while leveraging the high value of scorpion-derived peptides.

Positive

• Expansion of scorpion reservation increases capacity for peptide cultivation.
• Projected demand for Escozine® could reach one million doses after product registration.
• Future establishment of a lab facility will lower logistical costs.

Negative

• None.

BURBANK, Calif., March 30, 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 furthered the expansion of its scorpion reservation located in the Dominican Republic (“DR”). The first-of-its-kind location has been expanded by approximately 6,350 square meters where the Company will be able to safely and humanely cultivate scorpions of various types for the extraction of the peptides necessary to produce its lead clinical drug candidate Escozine®, which is currently awaiting product registration for the treatment of the SARS-CoV-2 (COVID-19) virus in the region.

The reservation is located in a remote area of the DR and surrounded by the Blue Scorpions natural habitat, having the ideal climate and terrain to support a healthy population of scorpions. The Company has completed several phases of the reservation’s development including the clearing of the land and the implementation of a detailed gridding system that supports the optimization of the peptide production process. The reservation further integrates Medolife’s supply chain of its prime material, a natural peptide found in Rhopalurus princeps scorpions, which the Company polarizes and formulates into Escozine®. The peptide is one of the most expensive liquids in the world and Medolife is uniquely positioned to cultivate it for use in its own clinical development programs, as well as sell additional capacity as a raw material globally, creating an additional revenue stream from the reservation.

Upon product registration in the DR, Medolife estimates demand for Escozine® could be upwards of one million doses in the first quarter after registration. The Company is actively scaling up cultivation of the peptide in order to meet this demand, as well as planning an additional expansion to the reservation in the form of a medical lab facility on the premises, which would decrease logistical costs in the Escozine® production process. Beyond its pending product registration in the DR, data on Escozine® has been submitted to the US Food and Drug Administration (FDA) through the Investigational New Drug regulatory pathway, which, if approved, would make Escozine® available to patients in the US in a matter of months.

“With a gallon of scorpion venom costing upwards of $39 million, expanding our own cultivation reservation in order to meet our internal demand for the peptides used in Escozine only made further sense,” said Medolife CEO Dr. Arthur Mikaelian. “We have one of the largest scorpion reservations in the world and this expansion only further solidifies that position. As we await our pending regulatory approvals, which we expect in short order starting within the DR, we must prepare to meet the immediate demand the approvals will render by increasing our scorpion cultivation efforts. While we plan to focus first on the Rhopalurus princeps, which is one of several types of Blue Scorpions, the expansion will also allow us to add other scorpions such as Rhopalurus abudi, whose venom has seen promising results in treating various cancers. Our next step of adding a lab facility to the location is imminent, and we will be able to fully integrate our supply chain of Escozine® and further position Medolife as an integrated global pharmaceutical and nutraceutical company.”

Medolife is dedicated to enhancing the efficiency and capacity of the reservation and adding more key personnel who are experts in scorpion reproduction and habitat. The process of extraction of the peptides does not harm the scorpions and can be repeated every 23 days, creating an ongoing value chain of peptide production. The increase in the size of the reservation allows for a reduction in the scorpion density per population and the addition of a lab in the future will provide insurance against unanticipated weather and environmental catastrophes.

The Company has conducted clinical studies on Escozine® using the scorpion peptide as a therapeutic for both COVID-19 and multiple cancers, including ovarian and bladder cancer. Medolife is seeking product registration in the Dominican Republic for the treatment of COVID-19 through its exclusive relationship with the country’s Ministry of Health and is also continuing studies on the drug’s effects on various cancers in both the DR and US.

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:
Phil Sands
https://ir.quantrx.com/
818-659-8052
Kyle Porter
medolife@cmwmedia.com
858-264-6600

FAQ

What recent expansion did Medolife Rx announce regarding its scorpion reservation?

Medolife Rx expanded its scorpion reservation by 6,350 square meters in the Dominican Republic.

What is Escozine® and what disease is it targeting?

Escozine® is a clinical drug candidate targeting SARS-CoV-2 (COVID-19).

What is the expected demand for Escozine® after product registration?

The expected demand for Escozine® is upwards of one million doses in the first quarter after registration.

What are the plans for the scorpion reservation to integrate the supply chain?

Plans include building a lab facility to improve production processes and decrease logistical costs.

Which scorpion species is primarily focused on for the production of Escozine®?

The primary focus is on the Rhopalurus princeps scorpion species.