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MONROVIA, CA -- (Marketwired) -- 06/22/17 -- Eco Petroleum Solutions, Inc. ((OTC PINK: ECPO) or the "Company") announces that IMMB BG a subsidiary of Immunotech Laboratories, Inc., the Company's subsidiary, has issued an exclusive Distribution Agreement (the "Agreement") for the territory of the 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 EUR
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.
The Agreement established a minimum order as 50 doses of the treatment, or 800 vials. The first order placed is for 10,000 units which will undergo manufacturing validation and then delivered to Omega for sale in the Ukraine as soon as the manufacturing permit is issued, which is expected within the next 180 days. This initial validation order is valued at EUR
2,062,500 ($2,116,125 USD). The validation documentation will be completed in batches of 3,300 and necessary documentation to complete the registration process is anticipated to be completed and delivered to the Bulgarian Drug Administration (BDA) by the end of September. Upon successful completion of the validation 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 the Ukraine. The Company expects additional orders to be placed in similar quantities on a monthly basis after the issuance of the permit.
There are an estimated 210,000 individuals infected with the HIV/AIDS virus living in the 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.
The US Patented ITV-1 treatment has successfully completed Phase I, II and III clinical testing in Sofia, Bulgaria through Immunotech Laboratories BG -- Europe LTD, a subsidiary of the acquired entity. The Phase III testing was conducted at the National Center of Infectious and Parasitic Diseases in Sofia, Bulgaria (www.ncipd.org) on a test group of salvage patients suffering from advanced stages of HIV/AIDS using the best modern testing procedures as approved at the latest World Practice Conference. The final report issued by the Ministry of Health demonstrated improvement in the 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, significant decreases in viral load, a good treatment effect on opportunistic infections, compatibility with all of the other modern antiretroviral drugs, and exceptional tolerance in all patients with a complete absents of any major side effects.
The treatment did not show any signs of treatment failure due to the development of resistance or toxicity during the Phase III trials as is often the case with the current medications available in the market today. Approximately Eighty percent of the test subjects reported viral loads at a nil level as a result of the treatment with approximately Sixty-Seven percent of the test subjects showing an improved Immune system.
The final report of the clinical trial is available on our website: www.immunotechlab.com and IMMB BG's website www.immunh.com.
"The hard work and financial support given to the clinical trial and permitting process by the IMMB BG subsidiary and it Chairman and CEO Dimitar Savov has kept alive the dream of bringing this treatment to HIV/AIDS victims around the world," stated CEO and Chairman Harry Zhabilov.
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.IR Contact: Immunotech Laboratories, Inc. 120 W Pomona Ave Monrovia, CA 91016 Phone: (626) 538-4779 Fax: (626) 538-4779 NEXT ARTICLE
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