Business Wire - December 8, 2004
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.
About Nutra Pharma Corp.
Nutra Pharma Corporation (http://www.nutrapharma.com) is a biotechnology holding company and incubator. The Company's minority-owned subsidiary, ReceptoPharm, Inc, is developing technologies for the development of drugs for HIV and Multiple Sclerosis ("MS"). The Company's other holding Infectech, Inc., is engaged in the research and development of diagnostic test kits designed to be used for the rapid identification of infectious diseases such as Tuberculosis (TB) and Mycobacterium avium-intracellulare (MAI). Nutra Pharma continues to identify and acquire intellectual property and companies in the biotechnology arena.
About Portage BioMed, LLC.
Portage BioMed is a biotechnology research company developing novel and proprietary drug delivery systems to be used with various drug therapies in the treatment of diseases. Their primary research is in creating innovative systems for the safer and more efficient distribution of existing chemotherapeutic agents in the treatment of cancer.
About Eno Research and Development, Inc. (ERDI)
ERDI is a full-service contract research organization located in Hillsborough, North Carolina, near Research Triangle Park. ERDI offers a wide range of pre-clinical development services to pharmaceutical, biotechnology, medical device, animal health and nutraceutical companies. The scientific staff of ERDI possess expertise in biotechnology, pharmacology, tumor biology, synthetic and analytical chemistry, in silico modeling of drug interaction / binding and rational drug design, as well as microarray technology and bioinformatics. With this expertise, ERDI can offer services ranging from lead discovery through New Drug Applications. 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"). The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. The agreement with Eno Research and Development should not be construed by any means as an indication of the value of the Company or its common stock. Additionally, there is no assurance that Eno Research and Development's services will result in a successful validation of Portage BioMed's technology. 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 a statement.
CONTACT: Nutra Pharma Corp.
Rik J Deitsch, 954-509-0911
IR@nutrapharma.com
SOURCE: Nutra Pharma Corp.
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