AngioSoma, Inc. (OTCQB: SOAN) announces that its new subsidiary Soma Nutraceuticals, Inc. is the recipient of intellectual property conveyed by its Chairman Emeritus Dr. David Summers, including a nutraceutical product using either natural or synthetic nicotine in a patented method for substantially accelerating the development of muscle mass and strength (U.S. Patent 7,074,812, “Development of Muscle Mass in a Mammal”). The product produced over $10 million in sales through GNC in 2005 and 2006 when the patent was owned by Endovasc, Inc. Dr. Summers also conveyed additional intellectual properties including products for sleep, staying awake & alert, strength & stamina, and a product for enhancing male libido while also aiding erections.
CEO Alexanderia Blankenship said, “We are excited about the potential of these new products, and their ability to quickly produce substantial cash flow.The muscle development product initially sold through GNC, where it was once in the top ten selling products.While the former patent licensee had a dispute, which caused its discontinuance, Dr. Summers and AngioSoma, Inc. had nothing to do with the dispute, and therefore we hope to quickly get the product selling through its previous sales channels, including GNC.”
ABOUT ANGIOSOMA, INC.
AngioSoma, Inc. (http://www.angiosoma.com) is a clinical stage biopharmaceutical company focused on improving the effectiveness of current standard-of-care treatments, especially related to endovascular interventions in the treatment of peripheral artery disease ('PAD'). Our lead pharmaceutical product Liprostin™, a treatment for PAD, has successfully completed FDA Phase I and three Phase II clinical trials, and we are in discussions with several contract research organizations for rapid completion of our U.S. Food and Drug Administration ('FDA') approved protocol for Phase III with submission of our new drug application for marketing in the U.S. and its territories.
NOTICE REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161117005819/en/Business Wire
Last updated on: 17/11/2016
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.