Nutra Pharma Acquires Patents and Licenses for Medical Test Kits.BOYNTON BEACH Boynton Beach, city (1990 pop. 46,194), Palm Beach co., SE Fla., on the Atlantic coast; inc. 1920. A major suburban area, it is also a beach resort and vegetable-shipping point. , Fla. -- Nutra Pharma Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NPHC NPHC National Pan Hellenic Council NPHC North Phoenix Heart Center ), a biotechnology company that owns rights to intellectual property related to the development of drugs for HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and Multiple Sclerosis, has announced that it has signed a definitive agreement with NanoLogix, Inc. (Pink Sheets:NNLX) that will allow Nutra Pharma to market and distribute diagnostic test kits designed for the rapid isolation and identification of infectious diseases infectious diseases: see communicable diseases. such as Tuberculosis (TB) and Mycobacterium mycobacterium Any of the rod-shaped bacteria that make up the genus Mycobacterium. The two most important species cause tuberculosis and leprosy in humans; another species causes tuberculosis in both cattle and humans. avium-intracellulare (MAI MAI Mail (File Name Extension) MAI Multilateral Agreement on Investment MAI Maius (Latin: May) MAI Ministerul Administratiei si Internelor (Romanian) ). "Nutra Pharma has designed a clear marketing and distribution strategy for these kits," commented Rik J Deitsch, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nutra Pharma. "We are organizing a group of experts in the field of mycobacteriology to promote and support the growth of this technology globally. These diagnostic test kits allow researchers to more rapidly identify outbreaks of certain diseases, providing them with access to additional data which may lead to more effective treatments. We expect the sale of these kits to provide the first revenues to Nutra Pharma by the second quarter of 2006," he added. The agreement includes the following: --NanoLogix will reassign to Nutra Pharma 11 key patents protecting the diagnostics test kit technology in exchange for Nutra Pharma's entire holding of NanoLogix stock (over 4.5 million shares). --NanoLogix will license to Nutra Pharma the remaining 18 patents that protect the diagnostics test kit technology in exchange for a 6% royalty on the gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of the products based on the licensed technology. --Nutra Pharma will issue 1 million options of Nutra Pharma restricted common stock to NanoLogix at $.20 per share. --Nutra Pharma will allow NanoLogix to continue their use of these patents for development of their hydrogen technology and other technologies unrelated to medical diagnostic test kits. "Acquiring this technology is important for Nutra Pharma," said Stan Cherelstein, Chairman of the Audit Committee of Nutra Pharma. "These test kits address a global market that approaches $300 million annually. The anticipated revenues will greatly improve the Company's cash flow, help build Nutra Pharma's market valuation, and aid in financing the ongoing drug discovery research without diluting its shareholders," he concluded. About Nutra Pharma Corp. Nutra Pharma Corp. is a biopharmaceutical company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders This is a list of major and frequently observed neurological disorders (e.g. Alzheimer's disease), symptoms (e.g.back pain), signs (e.g. aphasia) and syndromes (e.g. Aicardi syndrome). , cancer, autoimmune and infectious diseases. Nutra Pharma Corp. through its subsidiaries carries out basic drug discovery research and clinical development and also seeks strategic licensing partnerships to reduce the risks associated with the drug development process. The Company's holding, ReceptoPharm, Inc, is developing technologies for the development of drugs for HIV and Multiple Sclerosis ("MS"). The Company is also 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. http://www.nutrapharma.com This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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 definitive agreement mentioned in this press release 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 dis·claim v. dis·claimed, dis·claim·ing, dis·claims v.tr. 1. To deny or renounce any claim to or connection with; disown. 2. To deny the validity of; repudiate. 3. any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. |
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