BOCA RATON, FL–(Marketwired – May 23, 2017) – Protext Pharma, Inc. (OTC PINK: TXTM) (“Protext” or “the Company”), a biotech company engaged in the development of pharmaceutical applications with highly bioavailable Phytofare® extracts, has announced today that its name change to Protext Pharma, Inc is now effective with the State of Delaware, and is pleased to provide the following shareholders update on its wholly owned subsidiary Cannabis Biosciences. The Company expects to submit the name change to FINRA in the coming days.
Roger Baylis-Duffield, Chief Executive Officer of Protext Pharma, reports the latest news relating to the establishment of the company’s medicines platform in South Africa, through its wholly owned subsidiary Cannabis Biosciences. “Last week, the company completed an important next step in the process of attaining its medicine cannabis license with a visit by inspectors from the Ministry of Health assigned to validate and approve the dedicated ten thousand square foot premises to undertake this responsibility. When granted, this license is expected to permit the Company to grow, cultivate, develop and produce a non-psychoactive cannabis complex containing the full profile of all the phytonutrients, including cannabinoids, cannabinoid acids, terpenes and polyphenols. Based on Plandai clinically-proven sciences and bioavailability, the new cannabis complex of phytonutrients is expected to achieve pharmaceutical standards.”
Mr. Baylis-Duffield added, “After meeting with the inspectors this week, our further understanding is the application will be reviewed for approval by the Portfolio Committee, followed by granting of the license which is expected to occur in June 2017. Once issued, we believe this will be the first license of its kind to be issued to the private sector on the continent of Africa, and the company will then be one of a few companies in the world legally allowed to conduct research and development and produce cannabis medicines. Part of the forthcoming responsibilities will be to work with the Government of South Africa to develop non-psychoactive cannabis medicines with an objective to have our product declassified from a Level 6 controlled substance to a Level 0 controlled medicine. This declassification would be game-changing as it will allow our non-psychoactive cannabis medicines to be sold throughout the world. We would have a unique opportunity for the global licensing, the marketing and distribution of these branded medicines.”
The company intends to develop non-psychoactive cannabis medicines with initial investigations focused on confirming the anti-inflammatory activities in vitro with cannabinoid receptors for targeting arthritis therapies, where an estimated 52 million people in United States suffer from various forms of this disease. Mr. Baylis-Duffield explained, “The aim is to establish the therapeutic benefits of our cannabis medicine in suppressing and containing inflammation in human cells. This should directly lead to improved activity, the slowing of degradation in affected joints, and the reduction of both pain and disability.”
Mr. Baylis-Duffield concluded, “Given the relatively new industry and emerging market for cannabis based medicines, many investors are seeking to gain greater knowledge in analyzing medical cannabis companies, and a deeper understanding of cannabinoid science and patent viability. We therefore encourage our investors and shareholders to connect and engage with us through social media in order to fully understand the potential value and wellness benefits that may be achieved through our technology.”
About Protext Mobility, Inc.
Protext Mobility operates two wholly owned subsidiaries; Plandai Biotechnology South Africa (Pty) Ltd. and Cannabis Biosciences, Inc. The Company is engaged in the research, clinical testing and commercialization of highly bioavailable botanical products–all natural ingredients formulated for pharmaceutical applications and produced under pharma-grade conditions. Please visit http://www.protextm.co for further information.
About Plandai Biotechnology SA
Through its wholly owned subsidiary Plandai Biotechnology SA, the Company has the exclusive worldwide license to develop Phytofare® extracts from live plant materials including Phytofare® catechin complex, a highly bioavailable, and clinically proven antioxidant complex produced from live green tea leaves. Phytofare® can deliver a therapeutic level of catechins, which function as powerful antioxidants, to the system where they remain active for over 24 hours.
About Cannabis Biosciences
The Company is actively pursuing government licensing that will allow it to use its proprietary processing and extraction technology to commence investigations and produce a full-profile cannabis extract, one that contains both CBD and the precursor acid form of THC (THC-A and THC-B) found in live cannabis plant. The Company’s investigations will be designed to show that the Cannabis Biosciences extraction process, which will use live leaf and low temperatures to extract the phyto-chemicals, should leave the acid forms of THC intact, resulting in a non-psychoactive extract with full medicinal potential and having the heightened bioavailability of other Phytofare® extracts.
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation
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