ORLANDO, Fla. and DUBLIN, Ireland, Aug. 10, 2015 (GLOBE NEWSWIRE) -- via PRWEB - "We are pleased to receive the import license for LodonalTM in Nigeria," said Noreen Griffin Immune Therapeutics' Chief Executive Officer. "This decision further enables Immune Therapeutics to pursue LodonalTM approvals in other emerging nations. It is almost impossible to express our thanks for the work of Dr. Richards Afonja of [AHAR] and Dr. Gloria B. Herndon of GB Pharma. Without their continued support, the goal of bringing LodonalTM to Nigeria would not have been possible.
A forth coming agreement with FIDSON Healthcare Plc. is hope to be reached in the coming weeks. We believe this distribution agreement will be key to optimizing the commercialization and launch of LodonalTM making it available to benefit patients suffering from HIV and immune compromised diseases throughout Nigeria."
Given the prevalence of HIV/AIDS in more than 3% of the Nigerian population [est. population of 175 million], the initial goal in the next five years is to treat 10% of patients who would benefit from the quality of life provided by LodonalTM. Therefore, reaching this milestone gives all parties involved reason to celebrate this important step towards the acceptance and sales of LodonalTM.
Mrs. Jacqueline Bihari, widow of Dr. Bernard Bihari and guardian of his estate, expressed "Dr. Bihari would be rejoicing with the news that the drug he developed as Low Dose Naltrexone [LDN, marketed as LodonalTM] has received a license from Nigeria for importation. Dr. Bihari dedicated nearly thirty years of his medical practice prescribing this drug to thousands of his patients and observing how their various health problems vastly improved and/or were cured when taking this drug. Dr. Bihari's great wish was to get this drug recognized in Africa to help relieve the suffering of people with HIV/AIDS. Dr. Bihari truly would have been elated, knowing that at last a nation will reap the benefits of his hard work, dedication and belief in this remarkable drug."
Dr. Gloria B. Herndon, President/CEO of GB Pharma mentioned "while some biotech companies have taken short cuts which are a prescription for failure, Immune Therapeutic has stayed the course gone through birthing pains and has evolved into the cutting edge entity it was intended to be. The trials are the test of time and the import license is now the rite of passage. So many will benefit from this miraculous drug."
In terms of the pharmaceutical market, Nigeria is a significant emerging market in the pharmaceutical industry. According to the UNIDO report of 2011, the Nigerian pharma industry is growing at 13% annually. The estimated market size would be US$3.0 Billion (2015). This milestone is also a bridge towards local manufacturing that only enhances Immune Therapeutics presence and commitment to emerging markets in the vastly growing sector.
"THE OFFICIAL IMPORT LICENSE APPROVAL OF LODONALTM IS A MONUMENTAL STEP FORWARD FOR AFRICA", said Dr. Richards Afonja, CEO of AHAR, expressing his enthusiasm. He continued: "the long awaited march towards distribution of LodonalTM throughout Nigeria, and the medical and social impact of this approval, is limitless as we can now start to increase the use of LodonalTM across the continent of Africa with this achievement. Kudos to Ms. Noreen Griffin, the Immune Therapeutics CEO and the other top management for the staunch support. Dr. Gloria B. Herndon and GB Pharma executives and my tireless staff of AHAR Pharma for staying the course to get this far. In a couple of months, LodonalTM will be a household name in Africa in its role in the fight against HIV and non-HIV immune compromised conditions!"
Forward Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by Immune Therapeutics may not proceed as contemplated, and by all other matters specified in Immune Therapeutic's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. Immune Therapeutics does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Immune Therapeutics's filings with the Securities and Exchange Commission, including its recent periodic reports.
About Immune Therapeutics, Inc. Immune Therapeutics, Inc [formally TNI Biotech, name change 2014] is a biotechnology company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using its patented immunotherapy. The company's 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. Its proprietary technology, therapies and patents include the treatment of a wide range of cancers. The company's most advanced clinical programs involve immunotherapy with metenkephalin (MENK) (sometimes referred to as opioid growth factor) and its 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 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 subsidiary of Immune Therapeutics, Inc., is responsible for servicing sales orders for Lodonal™ in countries where Immune Therapeutics has received approval to sell the drug.
About TNI BioTech International, Ltd. TNI BioTech International, Ltd., a wholly-owned subsidiary of Immune Therapeutics, Inc. incorporated in the British Virgin Islands, is responsible for managing Immune Therapeutics' international distribution and is the contracting entity for the Nigerian 90-Day LodonalTM Bridging trial.
About GB Pharma Holdings: GB Pharma Holdings is a Washington D.C. global Pharmaceutical company with expertise in defining policies, facilitating approvals, distribution and cGMP (current Good Manufacturing Practices) and introducing innovative therapies to Africa. GB Pharma Holdings was established in order to be on the forefront of change and is dedicated to bringing cost effective and quality products to Africa. We are able to link new technologies, science and education together to be a cause for good. GB Pharma Holdings core focus is twofold; manufacturing cGMP quality pharmaceuticals and helping existing government agencies develop testing and regulations to purge counterfeit and sub-potent products out of their respective countries. Additionally, GB Pharma Holdings sources products directly from manufacturers able to provide quality pharmaceuticals and medical products. We are able to provide pedigree of any products we provide. Quality of products we distribute is guaranteed through testing reports, closed loop network and meticulous tracking from acquisition to final delivery on every product we provide. Our relationship with several universities in the United States and teaching Hospitals keeps us on the cutting edge of proven new trends and technologies. Additionally, we have an excellent relationship with international agencies and regulatory bodies.
About American Hospitals and Resort: Dr. Richards Afonja, a Hematologist/Oncologist, living and working in New Jersey and Nigeria with over 28 years of experience, is the founder of American Hospitals & Resort [AHAR], a cancer and blood disorder treatment center (americanhospitals.org) that has been delivering high quality healthcare in Nigeria since 2007. AHAR Pharma is the associated pharmaceutical company, which operates in the West and East Africa markets. AHAR specializes in branded medicines and seeks to improve the lives of patients suffering from infectious diseases. Associated organizations include Paterson Medical Services Corp, Colfax Oncology, Inc. and Princeton Health Care, which is an HMO that has been operating in Nigeria since 2000, both entities were founded and are managed by Dr. Richards Afonja.
For further information, please see http://www.immunetherapeutics.com/
Contact: Dennis S. Dobson Jr., 203-258-0159
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