BEVERLY HILLS, CA--(Marketwired - Sep 3, 2014) - PetLife Pharmaceuticals, Inc. (PINKSHEETS: EVGI) (PINKSHEETS: EVGID), today issued the following Special Letter to Shareholders from its Founder and Chief Executive Officer, Arthur G. Mikaelian, Ph.D.
PetLife's recent transition to a publicly traded company was a major milestone for our company. I would like to welcome all of our new shareholders, and take this opportunity to discuss our position, strategy and goals for the next twelve months.
PetLife's sister company Medolife, which I founded in 2007, has been successfully marketing its lead product Escozine to humans for cancer prevention and treatment through direct sales in 40 countries since 2007; while in the US Escozine for humans is sold as a high-potency nutraceutical. Since 2004, in conjunction with private investors over $10 million has been invested in R&D in Escozine (for humans) and substantial scientific documentation has been amassed, worldwide, of its effectiveness.
There is a distinct similarity of the cellular biology between humans, dogs and cats. This knowledge, combined with the growing body of pre-clinical research we have gathered and established over the years including from the UCSD Moores Cancer Center (2012), continues to demonstrate the effectiveness of Escozine's ability to kill cancer cells. Recently, PetLife licensed the exclusive worldwide rights to the intellectual property behind Escozine for humans -- to formulate, package and market a new product line, "Escozine for Pets™."
PetLife has developed, and next month will launch, a new generation of high potency veterinary nutraceuticals that targets malignant cells, based on the same patented "Escozine" formula and production process that uses a special polarization technology to potentiate the main ingredients to substantially increase their effectiveness.
The polarized main ingredients in our products have been demonstrated as a preventative, and a treatment, of cancer to improve quality and extend longevity of life -- as an alternative to conventional chemotherapy. It has also been shown to be effective in combination with chemotherapy in killing cancer cells. Now, cats and dogs can receive these benefits through our products. I invite you to visit our website, at www.petlifepharma.com which contains documentation of the research supporting the science behind Escozine For Pets™.
US Addressable Market
The National Cancer Institute reported that in the US alone, nearly six million dogs and 6.5 million cats are diagnosed with cancer annually, with dogs being 35 times more likely, and cats 40 times more likely, to suffer from cancer than humans. Tragically, those 12.5 million pet owners who leave the vet's office with a cancer diagnosis must decide to either subject their pet to chemotherapy and/or surgery, or treat their companion with Escozine, or do nothing.
Over six years of age, 60 percent of America's 83.3 million dogs and 95.6 million cats will be diagnosed with cancer. Unfortunately, it is estimated that only ten percent of those diagnosed will receive treatment. PetLife understands that 90 percent of dogs and cats with cancer go untreated because of unrealistically high costs and risks associated with conventional treatment. Over the years, the number of animals dying of cancer has increased. For example, approximately 45% of dogs aged ten years and above die of cancer. I believe we are now offering a product that is both affordable, and will fight cancer while increasing the healthy life of the pet.
Just in the US, the level of consumer spending on domestic companion animals is expected to reach over $58 billion in 2014 with over $13 billion being spent on over-the-counter medications, according to the American Pet Products Association (2014). Demand for pet health products in the U.S. is expected to grow approximately 4% - 6% annually through 2018.
We are dedicated to educating the public of the risk their companion animal has at developing cancer, and emphasize the importance of being proactive to protect their pet's future.
PetLife Products, Competitive Advantages and Barriers to Entry
Our first product line, Escozine for Pets, is being produced in a US FDA-approved production facility in Commerce, California to the highest standards. It is a clear liquid nutraceutical product with two versions being readied for launch. The first of which is designed for cancer treatment and the second for cancer prevention. Escozine contains extracts from the venom of the Blue Scorpion, harvested from scorpions at farms in the Dominican Republic where we have sufficient capacity to meet our sales targets.
Petlife is in the process of expanding its patent protection through a continuation filing that builds on a key component of our process for polarizing the dilute Blue Scorpion venom. The patented technology involves specific frequencies, as well as harmonics, which are used to achieve a resonance effect between the generated electromagnetic frequencies and the molecular frequency of the small molecular peptide (similar to Chlorotoxin CLTX), specific amino-acids and 59 essential minerals contained in the blue scorpion venom. Polarized Dilute Blue Scorpion Venom solution leads to more apoptosis (cancer cell death) in humans and animals, in comparison to non-polarized Dilute Blue Scorpion Venom solution.
PetLife is launching our first product -- a nutraceutical version of Escozine for Pets™ -- in October. Our product roadmap also includes a line of Escozine for Pets™ preventative dog and cat treats, and an arthritis product, scheduled for introduction in the first quarter of 2015.
Concurrently, PetLife plans to apply to the FDA in Q4-14 for approval of prescription strength versions for use by veterinarians, including intravenously administered as well as an injectable version for direct administration into cancerous tumors. Historically, that process for products in this category is relatively straightforward and, although there can be no assurance, these applications such as ours are typically approved in nine to fifteen months.
The Company has developed a sophisticated, multi-channel marketing strategy to be implemented in the fourth quarter of 2014. It includes online and direct sales, pet supply retail markets, veterinarian vertical markets, affiliate sales and infomercials.
Additionally, we are evaluating the US market for livestock, which also suffers from high rates of cancer at an industry cost of billions of dollars, and tentatively plan to introduce a product for this segment in the second half of 2015.
PetLife: The Genesis
As your newly appointed President and CEO, I'd like to introduce myself briefly and explain why I am so confident that Escozine for Pets will revolutionize the market for companion pet cancer prevention and treatment.
For the past 20 years, I have been actively studying stress hormones, master genes and their indirect influences on cancer cell activity and tumor progression. My initial findings led me to the innovative creation of a new generation of nutraceuticals and pharmaceutical drugs, as well as expanded interests in oncology. Perhaps my greatest contribution is the invention of the Polarization technology which targets key elements in the main ingredients of medications, leading to the intensification of potency of liquid or solid compounds, which substantially increases their therapeutic effectiveness. This technology is described in U.S. Patent 8,097,284 B2, as it pertains to Polarized Scorpion Venom solution, and the method for producing it.
I founded PetLife to bring a new, non-toxic cancer treatment to the veterinary world of dogs and cats. Because of today's lifestyles, our companion animals have become even more a part of our lives and prolonging and improving their quality of life is PetLife's mandate. I am confident the Escozine for Pets products' price point will enable far more people, whose pets have been diagnosed with cancer, to take an active and aggressive role in fighting this cancer to extend the healthy life of the companion animal.
12-Month Goals: Multiple Product and Channel Growth
PetLife's business plan envisions an ambitious agenda for the next twelve months. Our goals include:
Aggressive Marketing Strategy. Our multi-dimensional go-to market strategy includes direct sales, retail, veterinarian vertical markets, affiliate sales and infomercials -- reinforced with PR and endorsements by celebrities and leading veterinarians.
Build Intellectual Property (IP) Portfolio. We will continue to advance the science of Escozine and add to our IP estate through our own research, and research at leading veterinarian schools and oncology research centers.
FDA Approval of Rx Strength Products. We expect to file an Abbreviated New Drug Application (ANDA) to begin FDA clinical trials in Q4-14. Based on industry historicals, we are cautiously optimistic of approval within 9 to 15 months.
Leverage PetLife's IP Platform. Preliminary research and much anecdotal evidence strongly suggests Escozine for Pets may be effective to treat and prevent arthritis, hepatitis and several other pet diseases -- a prospectively large adjacent market.
- Arthritis: Arthritis is a slowly progressive, degenerative disease of the joints for which there is no cure. Escozine for Pets is believed to help prevent, delay and manage arthritis in dogs and cats. Arthritis affects one in five dogs over the age of seven. Over 90%, or 12 million, geriatric cats have arthritis.
- Hepatitis: As with humans, hepatitis in dogs and cats affects the liver. This contagious disease includes symptoms such as fever, vomiting and diarrhea accompanied by abdominal pain and may lead to kidney damage. It afflicts 12% of dogs and 40% of cats.
- Lyme disease: Lyme disease is a dangerous bacterial disease that can cause irreversible damage to a companion animal's health. About 5% of dogs contract Lyme disease.
Build Management Team. We have a strong team, including a highly experienced Chief Medical Officer to manage research and the FDA clinical trials, and plan to add a senior marketing executive. We will also build our Board of Directors and Board of Advisors.
Raise growth capital. As a public company we have a much lower cost of capital. When the time is right, we will raise capital to fund growth. We intend to commence a private placement of our common stock to investors who qualify as "accredited investors" under the new rules implemented by the SEC pursuant to rule 506(c) under the JOBS Act in the fourth quarter of 2014.
Communicate Proactively. We are implementing programs to keep our shareholders informed, and to communicate proactively with Wall Street and the media on our progress.
Go Global. While we will initially focus on the US market with its large pet population and its compassionate pet owners, we plan to expand into Canada, Brazil, UK and China in 2015.
As a newly formed public company, we have raised our visibility and increased our opportunities for growth. It is a privilege to lead your company into what I strongly believe to be an exciting and rewarding future.
Arthur G. Mikaelian, Ph.D.
Founder, President and Chief Executive Officer
Safe Harbor Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: EVGI 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 Eco Ventures Group, Inc. 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.