VANCOUVER, B.C., CANADA (July 29, 2016) - M Pharmaceutical, Inc. (CSE:MQ, OTCQB: MPHMF, FWB:T3F2 ), (the "Company" or “M Pharma”), announced it has incorporated a wholly owned subsidiary, M Pharmaceutical USA Inc., which will be the Company’s operating entity for its production, testing and marketing of its C-103 project, the reformulated Orlistat drug recently acquired. This company will operate out of the Greater Cincinnati region.
C-103 is a novel formulation of Orlistat, patented until 2030 in the United States. Orlistat is FDA-approved for weight management and sold by Roche as Xenical® (prescription) and by GlaxoSmithKline as alli® (over-the-counter). Orlistat is the best-selling weight loss medication of all time with peak sales over $900 million in 2007. C-103 is intended to maintain the efficacy of Orlistat while minimizing its socially unacceptable side effects.
“We are excited to establish a U.S. base in order to focus on bringing C-103 to market and make a difference in the lives of many people who are trying to overcome obesity,” said M Pharmaceutical Inc. President Mr. Brian Keane. “Our vision is to grow M Pharmaceutical Inc. as a Health Science and Wellness company by bringing innovative drug and medical technologies to market in order help fight the epidemic of obesity in our society,” added Mr. Keane.
About M Pharmaceutical Inc.
Formed in early 2015, M Pharmaceutical Inc. is a clinical-stage company developing innovative technologies for obesity and weight management. In addition to its recent acquisition of C-103, a reformulation of Orlistat from Chelatexx, LLC, the Company will focus on the development of its Trimeo capsules, temporary controllable pseudobezoars for non-invasive gastric volume reduction for the treatment of obesity, for which it has exclusive rights.
M Pharmaceutical trades on the Canadian Securities Exchange (CSE) under the ticker symbol “MQ” as well as on the OTCQB as “MPHMF” and FWB (Frankfurt Stock Exchange) as “T3F2.”
Notice regarding Forward Looking Statements:This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the commercialization of the rights to the its biomedical technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com and the Company’s filings to the CSE at www.cnsx.ca. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.