Mountain Valley MD Holdings Announces Voluntary Retraction of a Reported Data Set, No Material Change to Business Plan Anticipated
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TORONTO, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Mountain Valley MD Holdings Inc. (the “Company” or “MVMD”) (CSE: MVMD) (FRA: 20MP) announces an immediate voluntary retraction of the data contained in its news release dated December 10, 2020 with respect to its Ivectosol™ pre-clinical canine trial data, which was also referenced in a subsequent news release dated January 14, 2021.
The Company has discovered errors in the results disclosed in the December 10, 2020 and January 14, 2021 news releases that were based on an erroneous analysis as well as the incorrect use of comparator data that should not have been applied to the pharmacokinetic analysis. The Company has immediately implemented corrective internal processes and has initiated steps to re-run the trial and will provide an update regarding the Ivectosol™ data package with the appropriate analyses as soon as possible.
Based on current information, the Company remains confident in the key benefits of its patented solubility technology in its Ivectosol™ product, including improved pharmacokinetic parameters compared to standard ivermectin.
The Company is continuing with the previously disclosed business direction for its Ivectosol™ applications and related research and development activities in the areas of animal and human health, including husbandry, oncology, and other disease areas, with no material change anticipated as a result of the retraction.
ABOUT MOUNTAIN VALLEY MD HOLDINGS INC.
Mountain Valley MD is building a world-class organization centered around the implementation and licensing of its key technologies to global pharmaceutical, vaccine and nutraceutical third parties:
- patented Quicksome™ oral drug formulation and delivery technologies,
- patented Quicksol™ solubility formulation technology
Consistent with its vision towards “Helping People Live Their Best Life”, MVMD applies its Quicksome™ and Quicksol™ technologies to its work for advanced delivery of vaccines and pharmaceutical drugs as well as the development of products for pain management, weight loss, energy, focus, sleep, anxiety, and more.
MVMD’s patented Quicksome™ desiccation technology utilizes advanced liposomes and other stabilizing molecules to encapsulate and formulate active ingredients into highly efficient product formats that are consumed orally. The result is a new generation of product formulations that could be capable of delivering vaccines, drugs and nutraceuticals into the body faster, with greater impact, efficiency and accuracy.
MVMD’s patented Quicksol™ technology covers all highly solubilized macrocyclic lactones that could be effectively applied in multiple viral applications that could positively impact human and animal health globally. When Quicksol™ technology is applied to the ivermectin drug in its Ivectosol™ format, it uses excipients that are currently approved by the US Food and Drug Administration (FDA), making it a leading candidate for human injection and sublingual applications as well as significantly broader husbandry and companion animal treatments.
For more Company information and contact details, visit www.mountainvalleymd.com.
SOURCE: Mountain Valley MD Holdings Inc.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company.
The Company is making forward-looking statements, including but not limited to with respect to: the intention to repeat a trial with respect to its Ivectosol™ pre-clinical canine trial data and resulting disclosure; its continued research and development, and anticipated results in the areas of animal and human health, including husbandry, oncology, and other disease areas; no anticipated material change to current business plan.
The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
For further information: Dennis Hancock President and Chief Executive Officer Mountain Valley MD Holdings Inc. Investor Relations @ 647-725-9755 Email: email@example.com www.mountainvalleymd.com
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