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.
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