MONROVIA, CA, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Immunotech Laboratories, Inc. f/k/a Eco-Petroleum Solutions, Inc. (OTC Pink: ECPO) (the “Company”) announced the addition of Hongxiang Hui, MD, Ph.D. to the Advisory Board of the Company. Dr. Hui is Director of American RealYoung Institute for Advanced Medicine, and a PI Scientist at UCLA and has been a member of the research faculty since 2002. He received an MD, and Ph.D. degree in molecular biology from FMMU (The Fourth Military Medical University), PR.China. Prior to joining the UCLA faculty, he was an assistant professor at UCLA, a Post-doc at UCLA and UT Austin, and an associate professor at FMMU.
Dr. Hui is an expert on metabolic diseases, oncology, and wellness. He is the author of over 150 scientific papers and dozen patents on metabolic and cancer studies. He is an associate editor of “Pancreas” and “Frontier in Gastrointestinal Science”, and serves as editor board on 8 professional journals.
Dr. Hui is an active consultant for government and industry in medical and biotechnological areas. He is a member of Guangdong FDA advisory committee, the Chief Science Officer for a Hong Kong publicly listed company, and an executive chairman of the scientific advisory board of The Pacific-Asia Precision Medicine Forum.
“The Company is honored that Dr. Hui has accepted an Advisory Board and consulting position with Immunotech,” stated Harry Zhabilov, CEO of ECPO. “The vast knowledge and experience that Dr. Hui lends to our efforts will facilitate the Company in bringing our patented Immunotherapy treatment to Markets beyond the Eastern European where we are currently focused.”
Updating the progress on the Validation order associated with the permit from the Bulgarian Drug Administration (“BDA”) the Company recognized revenue in the third quarter ended September 30, 2017 from receipt of payment for production of the order and all the reports required by the BDA are currently being edited by the management of the Company for submission upon shipment. The Company expects the initial production to be shipped in the First Quarter of 2018.
In support and recognition of the recent World AIDS Day 2017 which is part of the continuing global efforts to remind the public and Governments of the need to raise more money, increase awareness, educate and overcome prejudices associated with the disease the Company offers the following data in support of those efforts:
- Approximately 37 million people live with the HIV virus.
- Everyday another estimated 5,600 people fall victim to this incurable disease, an average of 3.8 per minute, 230 per hour.
- Currently 2.6 million suffering from this disease are under 15 years of age.
- As of March 15, 2015, only 41% of all AIDS patients had access to antiretroviral therapy.
- One third of new infections occur in individuals between the ages of 15-24.
- Most infections are transmitted heterosexually.
- It is estimated that 4 in 10 people with HIV are still unaware they are carriers.
- Women represent half of all adults living with HIV and is the leading cause of death in women in their child-bearing years.
- UNAIDS estimates that $19 billion was available to low and middle-income countries in 2015 to reach the population at risk for the disease and estimates $26.2 billion is needed for 2020.
On January 24, 2017, Immunotech Laboratories, Inc a, subsidiary of ECPO, announced the completion of successful clinical Phase III testing of its patented ITV-1-ImmunH treatment for use against the HIV/AIDS virus through its subsidiary, Immunotech Laboratories BG – Europe. The test was conducted using recognized best modern world methods available at the Specialized Hospital for Active Treatment of Infectious and Parasite Diseases – “Prof. Ivan Kirov”, Sofia Bulgaria on advanced stage HIV/Aids victims. The final report on the clinical trials shows improvement in immune indices in the absolute number of LY, CD3 T, CD4 T, CD8 T, B Ly, NK and in the percentage of CD3 T, CD4 T, CD8 T, B Ly, NK and of the index CD4/CD8. Viral Loads in approximately 80% of the test subjects’ blood samples after receiving the treatment came back at non-detectable levels. Other important results noted in the report were the positive treatment effect on opportunistic infections, compatibility with other current antiviral drugs, high level of tolerance in all patients and the complete lack of any negative side effects unlike the treatments available today.
In June of 2017 IMMB BG, a subsidiary of Immunotech Laboratories, Inc., the Company’s subsidiary, issued an exclusive Distribution Agreement (the “Agreement”) for the territory of Ukraine to LLC Project Development and Implementation Centre Omega (“Omega”). The term of the Agreement is for an initial ten-year period with an option to renew the agreement for an additional ten years. The Agreement establishes a price of €3,300 (Euros) per one 8-week cycle of injections or 16 vials. The treatment protocol requires two 8-week cycles of injections administered twice a week with a one-week break between cycles. The ITV-1 treatment will be administered with a combination of different variations of Protease Inhibitors used in the treatment of HIV/AIDS.
Upon successful completion of the validation order mentioned above and review of the resulting documentation by the BDA, the Company expects the permit for the mass production and sale in the EU to be issued. Completion of the process will allow the treatment to be sold throughout the EU and wherever the permit issued by the BDA is recognized, including Ukraine. Currently, the manufacturing of the validation order is scheduled for December and, after the required storage period, the order will be shipped in the first Quarter for distribution under the Omega agreement.
There are an estimated 210,000 individuals infected with the HIV/AIDS virus living in Ukraine, and 2.5 million individuals throughout Western and Central Europe and another 1.5 million in Eastern Europe and Central Asia. Ten thousand vials represent enough ITV-1 to provide 312 individuals with available treatment to complete both 16-week cycles.
On July 20, 2017, as part of the acquisition of Immunotech Laboratories, Inc. the Company filed the Issuers Company Related Action Notification with FINRA, requesting that the Company’s name be changed to Immunotech Laboratories, Inc. to more accurately reflect ECPO’s entry into the Immunotherapy Treatment Market. In October 2017 the Company filed an additional Notification of Corporate Action for its subsidiary Immunotech Laboratories, Inc. to retire the IMMB ticker symbol. Amendments to the Articles of Incorporation were filed by the Company with the State of Delaware the week of July 10th. The Company has received and responded to all the request from FINRA to date and continually works diligently with FINRA to bring the review process to a close. The Company is hopeful that, in the very near future, we will be granted the name and symbol change and retire the ticker symbol IMMB.
“With the recent conference on AIDS held in Paris this past July and the advent of World AIDS Day 2017, the threat of a new and deadlier outbreak of this disease than the one experienced in the 1980’s has become a topic among experts that has to be addressed. While the past efforts have reduced the yearly deaths from AIDS and reduced the instances of infected mothers passing the virus to their children, recent data shows that the declines in new infections have stalled and new incidences are now increasing in some areas of the world,” stated Harry Zhabilov, CEO. Further, the World Health Organization, in June of 2016 stated that “Doing more of the same is not enough. The Global epidemic has reached a point where a steady state response will soon see a rebound in new HIV infections and HIV related deaths. Proceeding at the current pace will not be enough to end an epidemic that is constantly evolving.”
“At Immunotech we believe that beating the unbeatable is possible. With the addition of Dr. Hui to our advisory board and once our permit has been issued in Bulgaria we believe that the world will begin to believe this too,” added Harry Zhabilov.
2018 is a year of opportunity for Immunotech, the agenda includes ramping up sales in the approved EU markets, pursuing additional market opportunities in Asia, Mexico, and the United States. As well the company will be exploring different applications for their technology.
Immunotech Laboratories is a drug development company committed to the commercialization of its proprietary proteins for the treatment of debilitating infectious diseases. Immunotech is committed to creating drugs for the better health of mankind.
Immunotech’s flagship compound ITV-1 (Immune Therapeutic Vaccine-1) is a suspension of Inactivated Pepsin Fraction (IPF), which studies have shown is effective in the treatment of HIV/AIDS. IPF is the active drug substance of ITV-1 and is a purified extract of porcine pepsin. ITV-1 has been shown to modulate the immune system.
Safe Harbor Statement: This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Eco Petroleum Solutions, Inc. / Immunotech Laboratories, Inc. from time to time in its periodic reports filed with the SEC. IPF is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world.
While Eco Petroleum / Immunotech Laboratories believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Eco Petroleum / Immunotech Laboratories to establish the efficacy of IPF in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of IPF in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests.
Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, Eco Petroleum / Immunotech Laboratories or any other person that the objectives and plans of Eco Petroleum / Immunotech Laboratories will be achieved should not regard the forward-looking statements as a representation.
CONTACT: IR Contact: Immunotech Laboratories, Inc. 120 W Pomona Ave Monrovia, CA 91016 Phone: (626) 538-4779 Fax: (626) 538-4779