Nutra Pharma Announces Licensing Agreement with XenaCare Holdings to Market and Distribute Cobroxin, a Treatment for Chronic Pain
PLANTATION, Fla.-(Business Wire)-August 26, 2009 - Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today that it has successfully completed a licensing agreement that grants XenaCare Holdings (OTCBB:XCHO) ongoing exclusive United States marketing and distribution rights for Cobroxin in return for meeting specific minimum performance requirements.
“We are pleased to be working with XenaCare as our exclusive US marketing and distribution licensee for Cobroxin,” commented Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation. “For the past several months, XenaCare has continued to commit significant time, industry expertise and financial resources towards the launch of Cobroxin. We look forward to working closely with them as they complete the initial roll-out of Cobroxin to retailers across the country,” he added.
Cobroxin is the first OTC pain reliever clinically proven to treat Stage 2 (moderate to severe) chronic pain. The drug, which was developed by Nutra Pharma’s wholly-owned drug discovery subsidiary, ReceptoPharm, will be available as an oral spray (NDC47219-102-52) for treating lower back pain, migraines, neck aches, shoulder pain, cramps and neuralgia and as a topical gel (NDC47219-104-50) for treating repetitive stress, arthritis, and joint pain.
Additional benefits to Cobroxin include:
- All Natural
- Non-Addictive
- Non-Narcotic
- Non-Opiate
- More Potent than Morphine
- Long Lasting
“Cobroxin is a unique pain reliever that we believe can help improve the lives of the millions of Americans who are actively seeking a safer and more effective alternative for treating chronic pain,” explained Frank Rizzo, President of XenaCare Holdings, Inc. “We have already committed millions of dollars and industry resources towards the launch of Cobroxin and will continue to do so as we successfully introduce Cobroxin through retailers this fall,” he concluded.
On Monday, Nutra Pharma announced that it had completed submission of final Cobroxin packaging and labeling to the Food and Drug Administration (FDA). This submission was the final step required to begin selling Cobroxin.
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, 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 subsidiary, ReceptoPharm, Inc., is developing these technologies for the production of drugs for HIV and Multiple Sclerosis ("MS"). The Company's subsidiary, Designer Diagnostics, is engaged in the research and development of diagnostic test kits designed to be used for the rapid identification of infectious diseases such as Paratuberculosis (para-TB) and Mycobacterium avium-intracellulare (MAI). Nutra Pharma continues to identify and acquire intellectual property and companies in the biotechnology arena.
SEC Disclaimer
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"). Completing the agreement with XenaCare Holdings for marketing and distributing Cobroxin throughout the United States 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.
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