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TNI BioTech, Inc. Signs Memorandum of Agreement to Open Pharmaceutical Plant for the Production of IRT-103 (LDN)
TNI BioTech, Inc. Signs Memorandum of Agreement to Open Pharmaceutical Plant for the Production of IRT-103 (LDN).
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[{"type":"text","content":" 0 0 1 1045 5958 Brinen & Associates, LLC 49 13 6990 14.0 Normal 0 false false false EN-US JA X-NONE 0 0 1 17 98 Brinen & Associates, LLC 1 1 114 14.0 Normal 0 false false false EN-US JA X-NONE TNI BioTech, Inc., Signs Memorandum of Agreement to Open Pharmaceutical Plant for the Production of IRT-103 (LDN)NEW YORK, NY--(Marketwire- Sep 11, 2012) - TNI BioTech, Inc., (PINKSHEETS : TNIB), a public company operating in the biotech sector, announced today the signing of a Memorandum of Agreement between the company and MOV-FAS S.A. to open a pharmaceutical plant in Managua, Nicaragua.TNIB acquired a number of patents from Dr. Bernard Bihari involving Low-Dose Naltrexone (LDN) for the treatment of HIV/AIDS, cancer and other diseases. These patents and the clinical trials include over 20 years of data showing Low Dose Naltraxone (LDN) as an effective immune system modulator, without significant toxic side effects, non-addicting and can be administered by a single capsule once daily at bedtime. In anticipation of meeting the company's obligations under existing contracts, as well as those under negotiation, TNI BioTech reached an agreement with MOV-FAS S.A. to finance and construct a pharmaceutical plant for the production of IRT-103.The TNI BioTech, Inc. plant will occupy approximately 20,000m² of area in Managua, Nicaragua; an economic free zone designed to promote industrial growth and development in the Managua area. The company has a lease on the premises with ample room for future expansion. Plant construction began in September of 2012 and is being built pursuant to international pharmaceutical GMP (Good Manufacturing Practice) standards. The TNI BioTech, Inc. facility will be fully operational at the end of October 2012.The TNI Biotech, Inc. facility will manufacture LDN under the trade name of IRT-103 which will be for sale in Africa and nearby export markets. The plant has the capacity to manufacture approximately One Billion Four Hundred Million (1,400,000,000) capsules year. Joint VenturePartnersTNIB has formed a partially owned subsidiary for this joint venture. The partners in the TNI BioTech joint venture are TNI BioTech, Inc. (which owns 55%); MOV-FAS S.A., the development company (which owns 35%); Pharmaceutical Care Consultant of South Florida, d/b/a Skips Pharmacy (which owns 5%); and GB Pharma...