QNTA merger news: BURBANK, May 11, 2021 (GLOBE NEWSWIRE via COMTEX) -- BURBANK, Calif., May 11, 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 its President Philip Sands will be stepping down from the position, completing the planned final step in the merger with Quanta. Stepping into his place, Medolife CEO Dr. Arthur Mikaelian will act as the interim President and Chairman of the Board, while continuing in his role as CEO.
"We are excited to have completed this transition, which was one of the final steps in completing the merger of Medolife into Quanta, forming our new company Medolife Rx," said Medolife CEO Dr. Arthur Mikaelian. "We have been working very hard to align the pieces necessary to ensure our success as a global pharmaceutical and nutraceutical company, and this marks a new moment in the company's future."
"Our opportunity has never been greater, and we appreciate those who continue to follow our Company and believe in our future," added Dr. Mikaelian.
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. Mikaelian who pioneered the underlaying 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(R), 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 for various indications, including the SARS-CoV-2 (COVID-19) virus and cancer. The Company has completed preclinical safety and efficacy research on Escozine(R) and recently announced product registration in the Dominican Republic (DR), allowing for sales of Escozine(R) throughout Latin America.
Furthermore, the Company will continue to operate in the nutraceutical space with consumer products in general wellness, sleep-aid, anxiety treatment, and pain management.
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