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Medolife Rx Completes Initial Meeting with Bioethics Committee, Preparing for Commencement of Phase II Clinical Trial on Lead Drug Candidate
May 20, 2021 08:00 ET | Source: Quanta, Inc. Quanta, Inc.
BURBANK, Calif., May 20, 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 completed its initial meetings with CONABIOS, the medical ethics committee that oversees all clinical trial programs in the Dominican Republic (DR). The meeting outlined the next steps in its clinical program on Escozine® as a treatment for the SARS-CoV-2 (COVID-19) virus and the Company is seeking approval to commence clinical trials.
Published: Jan 21, 2021
The FDA Is In The Process Of Investigation And Conducting Their Due Diligence For Efficacy And Safety
Patented Polarization Technology Brings Increased Effectiveness in Venom-To-Drug Development
BURBANK, Calif., Jan. 21, 2021 /PRNewswire/
Medolife Rx, Inc., ( Medolife ) the majority owner of
Quanta, Inc. (OTCPK: QNTA) today announced that Medolife and The Ministry of Environment of The Dominican Republic signed an exclusive 10-year agreement with automatic renewal. This groundbreaking partnership encompasses exclusive rights for investigations, production, and distribution world-wide for the venom of a unique species of scorpions indigenous to the Dominican Republic. Medolife will focus on the R&D of pharmaceutical-grade products, as well as clinical evidence-based nutraceuticals, using its proprietary process of its polarization technology, developed by CEO, Dr. Arthur Mikaelian.
Quanta Inc. in Burbank has agreed to acquire a 51 percent stake in Medolife Rx, a Wyoming company that uses patented polarization technology to make anti-viral and immune-boosting therapeutics.
Medolife will receive newly created preferred stock from Quanta, giving its shareholders majority voting control of the combined entity upon closing. The transaction is a reverse merger where the acquired business goes public without having to file paperwork for an initial public offering.
Quanta is listed on the over-the-counter markets. Shares are currently trading at around 5 cents – down from about 48 cents a share at the beginning of 2020. The company was a developer of CBD products prior to the transaction with Medolife.