Plandai Biotechnology, Inc. Announces Formation Of New Entity To Develop Pharmaceutical Applications
SEATTLE, May 7, 2013 /PRNewswire/ -- Plandai Biotechnology, Inc. (OTCQB: PLPL), a producer of highly bioavailable plant extracts for industries including health, wellness, nutraceutical, and pharmaceutical, today announced the formation of Phyto Pharmacare, Inc., a Delaware corporation, which will oversee all aspects of developing and marketing Phytofare™ extracts for pharmaceutical and drug applications.
Plandai Chief Executive Officer Roger Duffield commented, "As a management team, we felt it necessary to differentiate the purely pharmaceutical operations from our farming, production and nutraceutical business. Taking our Phytofare™ extracts and seeking FDA clearance to market them to treat specific diseases brings unique challenges and requires an entirely different focus. The creation of Phyto Pharmacare, which will operate under a license from Plandai, enables that division to focus on specific drug targets and take our products through the various stages of clinical trials and FDA approval."
Initially, Phyto Pharmacare will focus on using its Phytofare™ Catechin Extract as both a cure for and prevention of malaria. Malaria is a parasite infection transmitted by mosquitoes and primarily located in sub-Sahara Africa and southern Asia, where it results in nearly a million deaths annually.
Mr. Duffield explained, "Malaria is one of great plagues that still kills way too many people, most of whom are children and the elderly located in some of the poorest and most remote areas of the world where access to life-saving medicine is either unaffordable or unavailable. With drug-resistant strains of the parasite now spreading across Asia, we could soon be facing a pandemic. The catechins found in green tea are well documented for their anti-malarial properties, but low human bioavailability (absorption) has limited its effectiveness as a drug. We believe that the high bioavailability of our Phytofare™ extract will finally yield a suitable drug for treating not only malaria but also other blood-borne parasitic infections."
Phyto Pharmacare will shortly begin validating the bioavailability of Phytofare™ Catechin Extract in human studies and is just completing in-vitro studies of its anti-malarial properties compared against other catechin extracts at St. George's University of London in England.
About Plandai Biotechnology, Inc.
Plandai Biotechnology, Inc. and its subsidiaries develop highly bioavailable, phytonutrient rich extracts which are being utilized to deliver a new family of drugs to safely and affordably treat a multitude of diseases and conditions. Plandai Biotechnology controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its patented Phytofare™ extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include food and beverage, cosmeceutical, wellness, nutraceutical, anti-aging, and pharmaceutical. For more information, please visit http://www.plandaibiotech.com.
Safe Harbor Statement
The information provided may contain forward-looking statements and involve risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and Plandai's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Plandai is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.
SOURCE Plandai Biotechnology, Inc.