SOURCE: New Life Scientific, Inc.

January 31, 2007 15:59 ET

PharmaTrials International Announces Expansion Plan Into Asia

PRINCETON, NJ -- (MARKET WIRE) -- January 31, 2007 -- PharmaTrials International, Inc., a subsidiary of New Life Scientific, Inc. (OTCBB: NWLS), specializes in providing clinical trial services, market research, and services to enable pharmaceutical, biotech and medical device companies worldwide to conduct research and to obtain regulatory approval of their products. PharmaTrials International, Inc. (PTI) today announced plans to expand its presence into Asia, and is currently exploring China and Indonesia, to optimize access to specific disease and treatment naïve populations in the region, and to effectively navigate country-specific regulatory and registration processes. PTI engaged the services of Raymond Y. Chin, as a consultant and advisor to PTI.

"We are looking to expand into Asia because of the growing interest of pharmaceutical companies to conduct studies in this region which is an important emerging market for pharmaceutical products. Our goal is to assemble a management team with a thorough understanding of the nuances of varying regulatory processes and systems within respective Asian nations," said Peter Goodenow, VP of PharmaTrials. "This strategy enables us to conduct efficient global clinical studies for our clients in these emerging markets."

About New Life Scientific, Inc. (OTCBB: NWLS): New Life Scientific, Inc. was formed with the intent to develop and commercialize novel biotech/pharmaceutical products including vaccines and stem cell based treatment modalities, and to expand through its own research, collaborations, acquisitions and in-licensing. The Company has two subsidiaries: one subsidiary, PharmaTrials International (PTI), provides clinical trial services, market research, and services to enable pharmaceutical, biotech and medical device companies worldwide to conduct research and to obtain regulatory approval of their products. The other subsidiary, Invamed Pharma, develops and commercializes pharmaceutical/biotech products coming from its own pipeline of in-licensed and reformulates existing products using proprietary technologies to improve the therapeutic potential of those drugs. Biorigen USA, a joint venture of New Life Scientific, Inc. and Biorigen Srl, an Italian biotechnology company, is involved in development of adult stem cell based therapies. Biorigen USA's major proprietary technologies include the use of biomaterials as a carrier for stem cells and growth factors, and other biomolecules to promote stem cell survival and biologic activity in tissue repair/regeneration after implantation and proprietary cell culture methods.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    New Life Scientific, Inc.
    Henry Val
    Email: Email Contact

    PharmaTrials International, Inc.
    Peter Goodenow
    Email Contact

    +1.609.945.2238