LAS VEGAS, March 22, 2018 (GLOBE NEWSWIRE) -- BioAdaptives, Inc., an OTC public company trading under the ticker symbol BDPT (OTCPink) announced that it has signed a Letter of Intent with1682593 Ontario Limited to acquire the assets of Philco Animal Health Inc.
Philco Animal Health is a Canadian-based facility that can produce a complete line of veterinarian products for BioAdaptives under GMP conditions and market them worldwide. Currently, Philco Animal Products Inc holds a GMP Drug Establishment License from Health Canada with licensed activities for “Vet Only” including fabricate, package, label and distribute DIN/NN registered products. Philco has also registered for a Medical Devices Establishment License with Health Canada to allow for import and distribution of medical equipment and devices. Philco has performed toll manufacturing activities under various contracts for veterinary DIN medication products which included the production of dosage forms ranging from blended powders and pastes to BOV aerosol units (Bag-On-Valve), medicated shampoos and tablets.
Kim D. Southworth, CEO, BioAdaptives commented that, “Not only will Philco become the R & D and manufacturing arm of BioAdaptives, through its President, Kris Phillips, a pharmacist and GMP/ACMPR Quality Assurance specialist, it will also provide consulting services for companies that wish to apply to Health Canada to become a licensed producer (LP) of cannabis for medical purposes and those requiring development and registration of various cannabis-containing products.“
Southworth added, “Philco will be changing its name to BioAdaptives Canada Inc. upon finalizing the transaction which is anticipated to be completed within the next two weeks. BioAdaptives Canada will then expand its facilities to incorporate the manufacturing of products, both oral and topical, for human consumption in the near future.
About BioAdaptives, Inc.
BioAdaptives, Inc. is a public company trading on OTC PINK under the symbol BDPT. The company is engaged in research and development in science-based nutraceutical products for human and animal consumption.
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SOURCE: BioAdaptives, Inc.