SOURCE: Eco Petroleum Solutions, Inc.

June 14, 2017 13:13 ET

Eco Petroleum-ECPO Completes Acquisition of Immunotherapy Drug Development Company

MONROVIA, CA--(Marketwired - Jun 14, 2017) - Eco Petroleum Solutions, Inc. (OTC PINK: ECPO) announces that it has completed the acquisition of Immunotech Laboratories, Inc. (OTC PINK: IMMB), a drug development company committed to the commercialization of its proprietary proteins for the treatment of debilitating infectious diseases, in a share exchange transaction. Immunotech is committed to creating drugs for the better health of mankind and the realization of shareholder value for the existing shareholder groups of the two entities.

Immunotech's flagship compound ITV-1 is a suspension of Inactivated Pepsin Fragment (IPF), which studies have shown is effective in the treatment of HIV. IPF is the active drug substance of ITV-1 and is a purified extract of porcine pepsin. ITV-1 has been shown to modulate the immune system.

The US Patented ITV-1 treatment has successfully completed Phase I, II and III clinical testing in Sophia, Bulgaria through Immunotech Laboratories BG - Europe LTD, a subsidiary of the acquired entity. The Phase III testing was conducted at the National Center of Infectious and Parasitic Diseases in Sophia, Bulgaria (www.ncipd.org) on a test group of salvage patients suffering from HIV/AIDS using the best modern methods as approved at the latest World Practice Conference. The final report issued by the Ministry of Health demonstrated improvement in the immune indices in the absolute number of Ly, CD3 T, CD4 T, CD8 T, B Ly, NK and in the percentage of CD3 T, CD4 T, CD8 T, B Ly, NK and of the index CD4/CD8, decrease in the viral load, a good treatment effect on opportunistic infections, compatibility with all of the other modern antiretroviral drugs, and exceptional tolerance in all patients with a complete lack of any major side effects. Approximately eighty percent of the test subjects reported viral loads at a nil level as a result of the treatment. The final report of the clinical trial is available on our website: www.immunotechlab.com

Phase IV, the application for a permit for mass use in the European Union has been completed and submitted. The validation of manufacturing of the treatment produced by a US contract manufacturer is in the process. IMMB-BG Europe LTD is in the process of construction of a manufacturing facility in Bulgaria in order to ensure a stable and long-lasting operation. IMMB-BG Europe will be providing an update on the progress of this project to be included in a future press release.

IMMB, a subsidiary of ECPO maintains a laboratory in Monrovia, CA for continuing scientific research and developments for lifesaving drugs, using the IPF platform.

Additional information is available on the website of the IMMB subsidiary Immunotech Laboratories BG-Europe - www.immunh.com

Global Statistics from the 2015 United Nations Fact Sheet on AIDS demonstrate that the HIV/AIDS virus is still a devastating disease in both industrialized and developing countries. Seventeen Million (17,000,000) people of the Thirty-Six Million Seven Hundred Thousand (36,700,000) living with HIV were accessing antiretroviral therapy representing 46% of all adults living with HIV, leaving 54% untreated. The currently available treatments have a myriad of side effects that inhibit the already decimated quality of life of most victims. There were 2.1 million newly infected people worldwide according to the UN 2015 Fact Sheet and 1.1 million patients died from AIDS related illnesses during the same period.

Excerpt from the May 2015 Pharmacy & Therapeutics article in the Peer Review Journal "In the Crowded HIV Market, There's Room for Innovation":

"Current medications use a host of mechanisms to manage viral load; with an extremely complicated treatment algorithm, ART requires various combinations of these therapies. Fixed-dose combinations have become increasingly preferred because they minimize pill burden and are easy for patients to use. (3)

"Unfortunately, patients continue to experience treatment failure due to the development of resistance or toxicity."

Immunotech's ITV-1 treatment consists of two eight-week treatment cycles of 16 injections with a week between cycles. The treatment in the phase III testing in Europe showed compatibility with all of the other modern antiretroviral drugs and exceptional tolerance in all patients with a complete lack of any major side effects.

The management and directors of the two organizations are excited about the opportunity to bring a new Immunotherapy to the European market with intentions to expand the acceptance by the regulatory agencies around the world, hoping to bring innovations in treatments to the victims of HIV/AIDS.

Eco-Petroleum Solutions has begun researching available options for filing for a name change that better reflects the new business segment ECPO now serves. All existing corporate websites will be updated and maintained with the most current data available on the transaction and progress of the treatment. Mr. Harry Zhabilov will assume the position of CEO and Chairman and will assemble a board of directors. The company financials and OTC status are currently being updated. The Company will release additional information as the filings are completed.

About Immunotech

Immunotech Laboratories is a drug development company committed to the commercialization of its proprietary proteins for the treatment of debilitating infectious diseases. Immunotech is committed to creating drugs for the better health of mankind.

Immunotech's flagship compound ITV-1 (Immune Therapeutic Vaccine-1) is a suspension of Inactivated Pepsin Fraction (IPF), which studies have shown is effective in the treatment of HIV/AIDS. IPF is the active drug substance of ITV-1 and is a purified extract of porcine pepsin. ITV-1 has been shown to modulate the immune system.

Safe Harbor Statement: This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Eco Petroleum Solutions, Inc. / Immunotech Laboratories, Inc. from time to time in its periodic reports filed with the SEC. IPF is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world.

While Eco Petroleum / Immunotech Laboratories believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Eco Petroleum / Immunotech Laboratories to establish the efficacy of IPF in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of IPF in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests.

Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, Eco Petroleum / Immunotech Laboratories or any other person that the objectives and plans of Eco Petroleum / Immunotech Laboratories will be achieved should not regard the forward-looking statements as a representation.

Contact Information

  • IR Contact:
    Immunotech Laboratories, Inc.
    120 W Pomona Ave
    Monrovia, CA 91016
    Phone: (626) 538-4779
    Fax: (626) 538-4779