SOURCE: Eco Petroleum Solutions, Inc.

July 20, 2017 13:19 ET

ECPO Files Issuers Company Related Action Notification with the Financial Industry Regulatory Authority requesting Name and Symbol Change

The Company Also Updated Progress on the Validation Process for its ITV-1 Patented HIV/AIDS Treatment

MONROVIA, CA--(Marketwired - Jul 20, 2017) -  Eco Petroleum Solutions, Inc. (OTC PINK: ECPO) (the "Company") announces that it has completed and filed the Issuers Company Related Action Notification requesting, because of the recent share exchange transaction, that the Company's name be changed to Immunotech Laboratories, Inc. to more accurately reflect ECPO's entry into the Immunotherapy Treatment Market. Amendments to the articles of Incorporation were filed with the State of Delaware the week of July 10th.

The Company updated the progress on the initial validation order of 10,000 vials and the related documentation required for the issuance of the permit for mass production and sale. The production has been scheduled to begin in mid-September. The validation order will be completed in batches of 3,300+/- and the necessary documentation to complete the registration process will be delivered to the Bulgarian Drug Agency (BDA) during the manufacturing process. Upon successful completion of the validation and review of the resulting documentation by the BDA the issuance of the permit will allow the treatment to be sold wherever the permit issued by the BDA is recognized, including the Ukraine and other Eastern European countries. The Company expects additional orders to be placed in similar quantities on a monthly basis after the issuance of the permit under the existing Ukraine distribution agreement. Other distribution agreements are currently being negotiated.

"In 2015 there were approximately 2.1 million new HIV/AIDS infections or about 5,700 infections per day. This equates to 4 new infections per minute of which statistically 51% of the newly infected are women and a third of the new carriers are between the ages of 15 and 24 years old. Half of the individuals infected with the virus do not know they have the disease. Since the mid-1990s there has been significant decreases in new infections, it is concerning that new infections among adults has failed to decline over the past 5 years and the incidence of new adult infections are rising in some regions," stated Harry Zhabilov, CEO of ECPO/Immunotech Laboratories, Inc. "We believe that when our treatment for this deadly disease is finally approved for mass production and sale the world will not only reap the benefit of helping treat the infected population, giving the individuals a chance at a more productive and fulfilling life, but also stem the cost of the disease in dollars spent on treatment and related expenses incurred because of HIV/AIDS."

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