MYOS CEO Joseph Mannello Issues Letter to Shareholders Following Presentation at North American Veterinary Community (NAVC) Conference/VMX
CEDAR KNOLLS, N.J., Jan. 23, 2019 /PRNewswire/ -- MYOS RENS Technology Inc. ("MYOS" or "the Company") (NASDAQ: MYOS), an advanced nutrition company and the owner of Fortetropin®, a proprietary bioactive composition derived from fertilized egg yolk that helps build lean muscle, has issued the following letter to shareholders from CEO Joseph Mannello.
To our loyal shareholders:
On Sunday, January 20, very exciting scientific results from a study that we sponsored with Kansas State University were presented at the North American Veterinary Community (NAVC) Conference/VMX in Orlando, Florida. The top-line results from this study were previously announced in a press release issued on January 15. The principal investigator of the study, Kenneth R. Harkin, DVM, DACVIM (SAIM), Professor & Section Head, Kansas State University College of Veterinary Medicine gave a well-received presentation at the conference, entitled, "The Impact of Fortetropin® Supplementation on Dogs Recovering from Tibial-Plateau Leveling Osteotomy (TPLO) Surgery," based on the study.
VMX is one of the largest conferences in the world dedicated to Veterinary Medicine with over 17,000 delegates and over 700 exhibiting companies in attendance. I attended VMX and spoke directly with veterinarians at the MYOS booth, where there was tremendous activity and interest. Many of these veterinarians said that they believe that our new Fortetropin®-based product, MYOS Canine Muscle Formula® will be a "game-changer" as there is "finally" a product that is effective in the canine market for muscle health. We believe that the study results will have truly transformative potential for the Company. Below is a brief discussion regarding the study and its potential impact on our business.
The Kansas State University Study
The study at Kansas State University evaluated the impact of Fortetropin on attenuating muscle loss in dogs during the weeks that follow a common veterinary surgical procedure called TPLO surgery– a procedure that veterinary surgeons perform to repair ruptures of the cranial cruciate ligament (CCL) in dogs. The CCL has a function that is analogous to the anterior cruciate ligament (ACL) in humans. Because the affected limb is immobilized for several weeks after TPLO surgery, a significant degree of muscle loss takes place during the eight weeks that follow surgery. The adage "use it or lose it" very much applies to muscle in all species– when muscle is not used, muscle is lost due to disuse.
In our study, 50 dogs received Fortetropin, our proprietary nutrition product, on a daily basis, while 50 dogs received cheese powder as a macronutrient matched placebo. The key findings of the study were as follows:
Fortetropin minimized muscle loss in both the affected and unaffected limbs of the dogs.
Dogs that received Fortetropin had improved weight-bearing capacity on their operated limb, and,
Fortetropin prevented a rise in myostatin levels following surgery. Myostatin is a protein that "puts the brakes" on muscle growth and development.
The full study results will be submitted for publication in a scientific journal in the coming months.
"Restoration or maintenance of muscle mass through the reduction of myostatin levels with Fortetropin offers vets an approach to in-home rehabilitation of injured dogs, including potentially improving or restoring mobility in geriatric dogs," commented Professor Harkin.
Transformation of MYOS
We believe these results will enable us to transform our business in two ways. Relating to the near-term opportunity, MYOS entered the veterinary market in 2018, when we developed and launched MYOS Canine Muscle Formula®. The decision to launch this product was based on very positive testimonials from veterinarians and customers who reported positive changes in their pets while using Fortetropin that were nothing short of amazing. Many of these testimonials can be found at www.myospet.com. As exciting as these testimonials were, it became clear that scientific data from a well-designed, placebo-controlled study would be needed to develop and grow our business. We now have scientific data supporting these testimonials which will form the backbone of our marketing efforts to further commercialize MYOS Canine Muscle Formula.
The long-term potential associated with these study results support our entry into the medical nutrition market. In 2016, MYOS published results from a human clinical study at the University of Tampa which demonstrated that 18- to 21-year-old males who consumed Fortetropin on a daily basis while performing moderate resistance training gained significantly more muscle mass relative to the placebo group. Based on the results observed in dogs at Kansas State along with previous results observed in humans, we strongly believe that Fortetropin has the potential to reduce muscle atrophy in humans following injury and to enhance their recovery. In light of these study results, we plan to aggressively move forward with a human clinical study on the impact of Fortetropin on recovery after total knee replacement surgery. Positive results from this study would enable us to participate in the recovery and rehabilitation field, a growing market with tremendous potential.
It has been my goal to manage the Company in a financially prudent manner in order to remain nimble and flexible so that we can make strategic investments that will generate a very high return on investment. With compelling results from a large preclinical study in dogs regarding the impact of Fortetropin on muscle atrophy, we feel confident to move forward with a human clinical study related to muscle atrophy after total knee replacement surgery.
To conclude, I am very optimistic about the future of the Company. I believe that we have a tremendous foundation to succeed in diverse areas ranging from sports nutrition to rehabilitation and recovery to animal health. I look forward to updating shareholders as we continue to leverage our R&D to grow brands with outstanding value.
Chief Executive Officer
About MYOS RENS Technology Inc.
MYOS RENS Technology Inc. (MYOS), "The Muscle Company®", is a Cedar Knolls, NJ-based bionutrition company that develops and markets products that improve muscle health and performance. MYOS is the owner of Fortetropin®, a fertilized egg yolk-based product manufactured via a proprietary process to retain and optimize its biological activity. Fortetropin has been clinically shown to increase muscle size and lean body mass in conjunction with resistance training. MYOS believes Fortetropin has the potential to redefine existing standards of physical health and wellness. For more information, please visit www.MYOSRENS.com.
Any statements in this release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the ability to create new products through research and development, the successful results of strategic initiatives, the successful launch of our products, including Qurr®, Yolked®, MYOS Enteral Nutrition Formula™ and MYOS Canine Muscle Formula® products, the success of our research and development, the results of the clinical evaluation of Fortetropin® and its effects, including the study results described herein, the ability to enter into new partnership opportunities and the success of our existing partnerships, the ability to generate the forecasted revenue stream and cash flow from sales of our products, the ability to continue increasing our revenue and gross profit margins, the ability to achieve a sustainable, profitable business, the effect of economic conditions, the ability to protect our intellectual property rights, competition from other providers and products, the continued listing of our securities on the Nasdaq Stock Market, risks in product development, our ability to raise capital to fund continuing operations, and other factors discussed from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
These statements have not been evaluated by the Food and Drug Administration. Our products are not intended to diagnose, treat, cure or prevent any disease.
Porter LeVay & Rose
Michael Porter, President