11 September 2012

TNI BioTech, Inc. Signs MOU to Open Pharmaceutical Plant in Managua, Nicaragua

New York, NY- 11 September 2012 - TNI BioTech, Inc., a public company operating in the biotech sector, announced today the signing of a Memorandum of Agreement between the company and MOV-FAS S.A. to open a pharmaceutical plant in Managua, Nicaragua. 

TNIB acquired a number of patents from Dr. Bernard Bihari involving Low-Dose Naltrexone (LDN) for the treatment of HIV/AIDS, cancer and other diseases. These patents and the clinical trials include over 20 years of data showing Low Dose Naltraxone (LDN) as a effective immune system modulator, without significant toxic side effects, non-addicting and can be administered by a single capsule once daily at bedtime. In anticipation of meeting the company’s obligations under existing contracts, as well as those under negotiation, TNI BioTech reached an agreement with MOV-FAS S.A. to finance and construct a pharmaceutical plant for the production of IRT-103. 

The TNI BioTech, Inc. plant will occupy approximately 20,000m² of area in Managua, Nicaragua; an economic free zone designed to promote industrial growth and development in the Managua area. The company has a lease on the premises with ample room for future expansion. Plant construction began in September of 2012 and is being built pursuant to international pharmaceutical GMP (Good Manufacturing Practice) standards. The TNI BioTech, Inc facility will be fully operational at the end of October 2012. 

The TNI Biotech, Inc. facility will manufacture LDN under the trade name of IRT-103 which will be for sale in Africa and nearby export markets. The plant has the capacity to manufacture approximately One Billion Four Hundred Thousand (1,400,000,000) capsules year. 

TNIB has formed a partially owed subsidiary for this joint venture. The partners in the TNI BioTech joint venture are TNI BioTech, Inc. (which owns 55%); MOV-FAS S.A., the development company (which owns 35%); Pharmaceutical Care Consultant of South Florida, d/b/a Skips Pharmacy (which owns 5%); and GB Pharma Holdings LLC, a subsidiary of GB Oncology & Imaging Group LLC (which owns 5%). TNI BioTech, Inc., as the senior partner in the enterprise, is expected to provide most of the technology; Pharmaceutical Care Consulting will provide quality control and management; GB Oncology & Imagining Group, LLC has provided the initial contracts for the sale of IRT-103; and MOV-FAS will provide the initial capital, the land and building, but more importantly, local relations to handle all permitting and approval for the venture. 

TNI BioTech, Inc., is a biotech company combating fatal diseases through the activation and mobilization of the body’s immune system using our patented immunotherapy. Its products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases. 

Source: TNI BioTech