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Thursday, January 13, 2022 11:25:42 AM

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$QNTA News: Medolife Rx Presents Its Venom-To-Drug Development Projects at an International Conference Held in the Dominican Republic

BURBANK, Calif., Jan. 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Medolife Rx, Inc. ("Medolife"), a global integrated biopharmaceutical company with R&D, manufacturing, and consumer product distribution, which is a majority owned subsidiary of Quanta, Inc. (OTCQB: QNTA), announced today that the Company’s venom-to-drug project was presented during an international conference organized by the Dominican Republic (“DR”) Ministry of Environment (“MOE”) for projects that utilize natural resources. The conference focused on projects that seek to use natural resources to improve the lives of humans, such as Medolife’s product, Escozine, which is registered as an alternative oncological medicine in the DR, and anticipates seeking approval as a COVID 19 treatment in both the United States, under PIND #150335, and the DR. The peptides obtained from the scorpion venom are used by the Company in combination with their patented polarization technology to create an ever-growing line of drugs and nutraceuticals.

The event was hosted by Vice Minister of Economic and Social Analysis of the DR Ministry of Economy, Planning and Development Alexis Cruz; Vice Minister of Protected Areas and Biodiversity of the DR Ministry of Environment Federico Franco; and Ambassador of the Federal Republic of Germany in the DR Volker Pellet. Other notable attendees at the conference included Director of International Cooperation of the Ministry of National Planning and Economic Policy Saskia Rodríguez, together with Vice Minister of the Environment of the Ministry of Environment and Energy of Costa Rica Franklin Paniagua.

The first day of the conference was held in Santo Domingo, which is the capital of the DR, while on the second day the international committee visited Medolife’s scorpion reservation in the Neyba province, which houses Rhopalurus princeps scorpions endemic to the region, commonly referred to as “blue scorpions”. The visiting committee observed and noted the high level of training for workers at the reservation, the diligent care for the scorpions, and the positive effects it has for the region’s locals. Medolife is also committed to hire and train more female employees in 2022. CEO of Medolife Dr. Arthur Mikaelian led discussions on the Company’s projects with various representatives of the international committee during the conference.

“Some members of the conference expressed interest in presenting our project to their respective countries,” said Dr. Mikaelian. “We had a productive conversation with the German ambassador, who would like to present Escozine as a COVID-19 treatment to interested institutions in the German government, with plans to reconnect beginning of 2022 to explore this opportunity. In addition, there was interest in the polarization technology and its capabilities. We are pleased with the reception we received and the outcome of these presentations. We believe the combination of natural resources and technology will be the start of a new generation of drugs and nutraceuticals, which are capable of improving the lives of people - and we believe this conference proves that the venom-to-drug concept is gaining international recognition.”

In 2020, Medolife signed a new agreement with the MOE, which enforces exclusive rights to the Company for the use of the Rhopalurus princeps scorpion peptide and has automatically renewing terms every 10 years. This provides the Company confidence to further invest resources and time in its venom-to-drug projects.

“We are proud of the joint achievement between the Ministry of Environment and Medolife in these innovative projects, where natural resources are being utilized for the benefit of our country and globally,” said Marina Hernandez, who is the Head of the Department of Genetic Resources in the MOE. “During this international conference, we also observed a strong interest from visitors to apply Medolife’s polarization technology in different countries for the development of drugs and nutraceuticals that utilize natural resources.”

By the end of January, the Company expects to receive an export license for Escozine that is produced in the DR, after which the Company intends to begin exporting Escozine to Mexico for further distribution. In the meantime, the Company continues to work towards finalizing its DNA toxicology study on Escozine, in connection with the product’s PIND application. The Company is also working with FINRA on completing the application to change Quanta’s name and stock symbol, and expects to receive approval during Q1 2022.

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, 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 intends to pursue product registration and drug approval in multiple countries.

Through its subsidiary AELIA, Medolife manufactures and distributes consumer wellness products in consumer areas such as pain relief, beauty, and general wellness. AELIA 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 could have 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:
ir@medoliferx.com
818-659-8052

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