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, today announced that its subsidiary, ReceptoPharm Inc., has successfully cloned the gene required for the recombinant production of the precursor protein used in the production of its lead drug, RPI-78M.
"This is the completion of a necessary first step in scaling up drug production to address future needs," said Rik Deitsch, Nutra Pharma's Chief Executive Officer. "This allows ReceptoPharm to provide their drug to the entire marketplace after approval," he added.
These genes will permit the Company to meet commercial demands for the product. The Company has successfully expressed the protein in a bacterial host on a small scale and studies to confirm the integrity of the protein are underway with large-scale expression studies expecting to be initiated by the 3rd quarter. While natural resources for the drug raw material are good, there may only be sufficient quantities available to treat approximately one million people. This is clearly not going to meet the needs of 42 million people currently living with HIV/AIDS.
"We have seen companies in the past that neglected manufacturing considerations until late in the approval process," commented Paul F. Reid, Ph.D., ReceptoPharm's Chief Executive Officer. "By addressing these issues now, ReceptoPharm will avoid manufacturing issues and prevent a shortfall in drug supply after FDA approval," he added.
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 cloning of the gene required for the recombinant production of RPI-78M 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.