BOCA RATON, FL--(NewMediaWire - 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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Twitter: https://twitter.com/protxtm
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