Nutra Pharma Corp., a biopharmaceutical and diagnostics company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune and infectious diseases announced today that it is working with the Business Development Group of Xinhua Finance, China's premier financial services and media company. The agreement, which has been outlined in the Company's 8-K filing with the SEC, provides that Xinhua Finance will aid Nutra Pharma to:
- meet potential strategic and operational partners, as well as suppliers, manufacturers, customers, and other partners in The People's Republic of China and elsewhere in Asia; and
- obtain strategic counsel for advancing its business objectives in China and elsewhere in Asia.
"Nutra Pharma has international-standard pharmaceutical products which China currently lacks," commented Sterling LeFevre, Managing Director of Xinhua Finance's Business Development Group. "We are delighted that Xinhua Finance can help to introduce these products to the China market," he concluded.
Two of Nutra Pharma's holdings, ReceptoPharm, Inc. and NanoLogix, Inc., are developing technologies that could potentially be used in China. These companies have already expressed interest in finding Chinese partners.
ReceptoPharm, Inc. is conducting basic drug discovery, research and clinical development for the indications of its therapies that include Multiple Sclerosis (MS) and HIV/AIDS. Their current drugs are derived by modifying the venom and toxin of snakes, some of which are indigenous to China, for the potential use as therapy for various autoimmune and neurological diseases and disorders. ReceptoPharm is preparing for Phase IIb/IIIa clinical studies for Adrenomyeloneuropathy (AMN) as well as Phase IIa studies for MS and HIV/AIDS.
"We are excited to be working with Xinhua Finance in our efforts to move into the China marketplace," remarked Rik J. Deitsch, Nutra Pharma's CEO. "There are several immediate opportunities for the Company in potential partnerships and licensing as well as shared research in areas that concern the Chinese. ReceptoPharm's HIV/AIDS therapy may be of particular interest to these potential Chinese partners," he added.
The Chinese government recently announced that it has 840,000 HIV/AIDS cases among its population of 1.3 billion people, but experts say at least one million rural inhabitants were infected from contaminated needles when donating blood in the central province of Henan alone. "If the preventive measures are slack, the number of people infected by HIV could reach 10 million by 2010," stated Dai Zhicheng, director of the Health Ministry's Committee of AIDS Experts (Xinhua Daily Telegraph). The United Nations has also stated that the number of HIV-infected Chinese could rise to 10 million by the end of this decade if the epidemic is not treated seriously.
Published data shows that 30% of the individuals that have HIV/AIDS also have Tuberculosis (TB). Additionally, it has been estimated by world health authorities that more than 70% of AIDS patients harbor Mycobacterium Avium-Intracellulare (MAI) infection. The World Heath Organization has estimated China as having the second largest tuberculosis population in the world and estimates that presently more than 1.3 million people in China have the active form of tuberculosis.
NanoLogix, Inc., another holding of Nutra Pharma, is engaged in the research and development of diagnostic test kits to be used for the rapid identification of mycobacterium based infectious human diseases such as Tuberculosis (TB) and Mycobacterium Avium-Intracellulare (MAI). NanoLogix management believes that the benefits of their test kits in identifying TB and MAI include:
- identify active disease states relatively quickly,
- relatively low cost,
- easily utilized by minimally trained staff,
- capable of being stored at ambient temperatures,
- has a long shelf life,
- is appropriate for isolation and antibiotic sensitivity testing of
"The therapeutic and diagnostic platforms that are being developed by ReceptoPharm and NanoLogix have the potential to allow people in China to live longer and healthier lives," said Mr. Deitsch. "We are excited to be working with Xinhua Finance to create critical strategic relationships in China and Asia that may allow us to make inroads that would otherwise be difficult to make as a non-Chinese company."
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"). Working with the Business Development Group at Xinhua Finance 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.