TNI BioTech, Inc. Signs Non-Exclusive Distribution Agreement for Lodonal™ for Cancer and Receives First Sale in Africa - CORRECTION
ORLANDO, Fla. and DUBLIN, June 25, 2014 /PRNewswire/ -- TNI BioTech, Inc. (OTC-TNIB) ("TNI BioTech") earlier today announced that its pharmaceutical sales division, Airmed Biopharma Limited, ("Airmed"), a wholly owned Irish Company, has signed a non-exclusive distribution agreement with PanAm Global Logistics, Inc. ("PanAm") to market Lodonal™.
In the press release, TNI BioTech and Airmed reported receipt of an initial purchase order for $150,000 and that by the agreement, PanAm seeks to distribute a minimum of 5,000 pills per month for the balance of the year with sales expected to increase in 2015. In fact, PanAm seeks to distribute a minimum of 5,000 'cartons' per month, or 150,000 pills per month, for the balance of the year with sales expected to increase in 2015.
TNI BioTech and Airmed reiterate that Airmed will deliver the first shipment by July 7, 2014. TNI BioTech and Airmed reiterate their estimate that the agreement will generate approximately $1,800,000 in revenue in year one of the distribution relationship. TNI BioTech and Airmed thank PanAm for pointing out this correction.
About TNI BioTech, Inc.
TNI BioTech is a biotechnology company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using our patented immunotherapy. Our products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases.
Our proprietary technology, therapies and patents include the treatment of a wide range of cancers. Our most advanced clinical programs involve immunotherapy with met-enkephalin ("MENK") (sometimes referred to as opioid growth factor ("OGF")) and our Low Dose Naltrexone product ("LDN") or Lodonal™, which have been shown to stimulate the immune system even in patients with advanced cancer.
Even though Management considers any condition that results in altered-immune response a target for investigation, the Company will most likely pursue additional investigations for MENK and LDN as valuable candidates in the treatment of autoimmune states such as rheumatoid arthritis and multiple sclerosis; as an adjunct in cancer patients undergoing chemotherapy, radiation treatments or surgery; and as a complement to antibiotics in the treatment of a variety of infectious diseases, including patients with HIV/AIDS, in combination with retroviral drug therapy.
About Airmed Biopharma Limited
Airmed Biopharma Limited, a wholly owned Irish company, is the pharmaceutical sales division of TNI BioTech. Airmed is responsible for servicing sales orders for Lodonal™ in countries where TNI BioTech has received sales approval in Latin America and Africa.
About Cytocom, Inc.
Cytocom, Inc. is a biotechnology company that will initially focus on developing Low Dose Naltrexone (Lodonal™) and met-enkephalin in the investigation of unmet medical needs in the areas of oncological and inflammatory diseases.
About The Brewer Group, Inc.
Established in 2005, The Brewer Group ("TBG") is a multi-faceted global investment advisory firm focused on providing tailored services including investment banking advisory, asset management, specialty finance and business development for public and private companies as well as high-profile clientele including athletes, entertainers and world leaders. TBG specializes in multiple sectors including: financial services; biotechnology & healthcare; sports; media & entertainment; wearable technology & consumer products; sustainable technology & agriculture; education & cultural exchange; and hospitality. The Brewer Group's relationships with high-profile clientele and affiliates including United Nations representatives, global organizations, distribution outlets, governments, key government and non-governmental officials, NPOs, agencies and unions as well as with various public and private corporations and international organizations place TBG in a unique position to execute a wide range of services around the globe. For further information, please visit www.thebrewergroup.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release and the statements of representatives and partners of TNI BioTech, Inc. and its subsidiaries (the "Company") related thereto include various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" used in the Company's press releases and in the Company's filings with the Securities and Exchange Commission as well as Disclosure Statements and Reports filed with the Over The Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve assumptions and significant risks and uncertainties. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release, and thus readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Actual results may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.
For further information, please see http://www.tnibiotech.com
Contact: Dennis S. Dobson, 203-258-0159
SOURCE TNI BioTech, Inc.