Hancock, MD, Sept. 14, 2016 (GLOBE NEWSWIRE) -- Hancock, MD - PetLife Pharmaceuticals, Inc. (OTC QB: PTLFD) (the "Company"), a developer of Vitalzul™, a new generation of high potency veterinary cancer medications and nutraceuticals for pets, announces plans to begin its Proof of Concept study as part of its pre-INAD (Investigational New Animal Drug) program. The study will be undertaken under contract by InnoVision Therapeutics. Proof of Concept studies are an early stage of clinical drug development when a compound has shown potential in animal models and early safety testing. These small-scale studies are designed to detect a signal that the drug is active on a pathophysiologically relevant mechanism, as well as preliminary evidence of efficacy in a clinically relevant endpoint.
InnoVision Therapeutics extensive work with Escozine (the human formulation of Vitalzul™) will effectively fast track PetLife’s studies due to the similarities in testing requirements of the drug. As was discussed in the shareholder newsletter last month, the potential for other disease treatment is very promising, and with InnoVision’s assistance, we expect to explore those areas upon pre-INAD study completion.
In addition, the restructuring of PetLife Pharmaceuticals has been completed as of September 12, 2016. For a 21 day period, the stock symbol will include a ‘D’ designation at the end, (OTC QB: PTLFD), reverting back to (OTC QB: PTLF) afterwards. This restructuring has been a part of PetLife’s business plan from inception, a step towards up listing to a higher exchange, such as NASDAQ or AMEX, once the company meets the necessary listing requirements.
“PetLife has started aggressively executing the Clinical and Regulatory plan outlined by Dr. Mishra, Chief Science Officer of InnoVision Healthcare (a division of InnoVision Therapeutics). As we do so, we will continue to provide appropriate business and technical support to ensure maximum value to PetLife’s shareholders.” stated Dr. Salvagno, CEO of PetLife Pharmaceuticals.
Petlife’s 506 Private Placement Memorandum is available only to accredited investors.
About PetLife Pharmaceuticals, Inc.
PetLife Pharmaceuticals (OTCQB: PTLFD) (http://www.PetLifePharma.com) is a registered US Veterinary Pharmaceutical company, incorporated in 2012.
PetLife's mission is to bring its new, scientifically proven, non-toxic, potentiated bioactive nutraceuticals and prescription medication, Vitalzul™, to the world of veterinary oncology -- with the ultimate goal of preventing cancer and extending the life of pets suffering from cancer while improving their quality of life. In the US alone, consumer spending on domestic companion animals reached over $60 billion in 2015 with over $29 billion spent on veterinary care and medications.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: PetLife encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by the Company, that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospects and performance. The Company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the Company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The Company does not undertake any responsibility to update the forward-looking statements contained in this release.
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Source: PetLife Pharmaceuticals, Inc.