By offering cost effective contract research services to early stage life science firms, ReceptoPharm provides a much-needed platform for startup and small biopharmaceutical companies to continue developing innovative medical treatments during the economic recession.
Nutra Pharma Corp., a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today that its wholly-owned drug discovery subsidiary, ReceptoPharm, has introduced a line of specialized contract research services aimed at the early-stage life science market.
“As a clinical stage company specializing in biologics, we understand and have cleared many of the hurdles that face emerging biotech companies,” commented Dr. Paul Reid, CEO of ReceptoPharm. “This knowledge, combined with our qualified drug production facility, allows us to leverage our expertise and capabilities by extending them to small and start-up biotechnology companies looking for cost effective outsourcing solutions for their clinical development projects,” he added.
ReceptoPharm’s services include pre-production studies, contract manufacturing, United States and European Union regulatory support, and quality systems and GMP certification. Additionally, the Company can prepare and sterile fill pharmaceutical products in its ISO class 5 cleanroom facilities for trials in the United States and the European Union.
“Opening ReceptoPharm’s GMP certified drug production facility to startup and smaller biopharmaceutical companies could not have come at a better time given the current state of the economy and the reduced level of financing available for many of these early-stage companies,” explained Rik J Deitsch, Chairman and CEO of Nutra Pharma. “By offering these services, at a much lower cost as compared to traditional contract research organizations, ReceptoPharm allows these life science firms to immediately continue innovating and developing medical technologies, instead of waiting for the economy to fully recover,” he concluded.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). ReceptoPharm’s introduction of contract research services should not be construed as an indication in any way whatsoever of the value of the Company or its common stock. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.