Nutra Pharma Corp., a biotechnology holding company that owns rights to patents and intellectual property related to the development of drugs for HIV and Multiple Sclerosis (MS) today announced that it has engaged Eno Research and Development, Inc. (ERDI) to validate the technology of Portage BioMed.
The contract for services provides for a series of validation steps. The first studies will endeavor to characterize Portage BioMed's novel delivery system for chemotherapeutic agents. If these in-vitro studies are successful, animal trials will commence immediately thereafter.
"At Portage BioMed, we have made tremendous strides in the research and analysis of our drug delivery system," commented James M Spear, Portage BioMed's Chief Executive Officer. "Still, it is absolutely necessary to gain third-party validation of this technology," he continued. "The work that is being conducted by ERDI will allow us to better understand our system and may help lead to licensing of this technology to a partner in the Pharmaceutical industry."
"Our goal in this study is to provide an unbiased analysis of their drug delivery system," remarked James Flowers, ERDI's President and Chief Scientific Officer. "A successful system could result in lower doses of chemotherapy for cancer patients, and therefore possibly minimize the associated side-effects," he added.
"We have been extremely pleased with the working relationship that we have fostered with ERDI," said Rik J. Deitsch, Nutra Pharma's Chief Executive Officer. "The scientific staff of ERDI has the expertise necessary to provide the information that we need to move forward with our acquisition of Portage BioMed," 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"). Engaging Eno Research and Development to validate Portage BioMed's technology 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.