TNI BioTech, Inc. Signs Exclusive Distributor Agreement for Federal Republic of Nigeria with G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC
NEW YORK, Nov. 15, 2012 /PRNewswire/ -- TNI BioTech, Inc. (TNIB) announced today the signing of an exclusive distributor agreement with G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC for the Federal Republic of Nigeria. Under the terms of the agreement, G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC will have exclusive marketing and distribution rights to IRT-103 LDN and IRT-104 LDN cream in Nigeria. TNIB will be responsible for the manufacture and supply of IRT-103 LDN and IRT-104 LDN cream. The therapies, developed as a treatment for cancer, HIV/AIDS and other autoimmune diseases, will be manufactured in TNI BioTech, Inc.'s facility in Managua, Nicaragua under the supervision and quality control of Dr. Henry "Skip" Lenz. G-Ex Technologies/St. Maris Pharma, as part of the agreement, will provide TNIB with a revolving letter of credit for the minimum purchase of 750,000 doses monthly of IRT-103 LDN or IRT-104 LDN cream beginning March 1, 2013 priced at $1.00 dollar per dose.
The agreements calls for G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC to purchase a minimum of 15,000,000 doses monthly within 24 months to maintain their exclusive agreement. Once G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC reach sales of 1,000,000 million doses per day TNIB has agreed to joint venture a factory in the Federal Republic of Nigeria to meet local demands.
Noreen Griffin, CEO of TNI BioTech, Inc. said "this contract shows TNI BioTech's commitment to generate revenue during our first year of operations."
According to Frank Aribeana, the managing member of G-Ex Technologies/St Maris Pharma, "We are delighted to enter into this agreement as we believe the introduction of IRT-103 LDN and IRT-104 LDN cream in this market will allow us to provide much needed treatment at an affordable price to the citizens of the Federal Republic of Nigeria."
About G-Ex Technologies/St. Maris Pharma
G.Ex Technologies/St. Maris Pharma is a consortium of management consultant, general pharmaceutical, clinical pharmacy and marketing executives, each with over twenty-five years of industry experience and well versed in the changing dynamics of the prescription and OTC drug international marketplace. Actively supported by medical practice professionals in business and academia who have been involved in the management of related drug therapies for many years, the consortium is poised to champion the successful introduction of IRT-103 LDN and IRT-104 LDN in the territory.
About TNI BioTech, Inc.
TNI BioTech, Inc., is a biotech company combating fatal diseases through the activation and mobilization 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, will be used to treat a wide range of cancers. Our most advanced clinical programs involve immunotherapy that works by isolating a patient's lymphocytes and then incubating them together with Methionine Enkephalin (MENK) in an enriching external incubation system. After incubation the patient's lymphocytes are re-infused back into the patient where they combat and destroy tumor cells.
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 as a valuable candidate in the treatment of the following:
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release includes 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 "believes," "anticipates," "intends," or "expects," used in the Company's press releases and in 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 risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.
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