ProPhase Labs, Inc., a diversified biotech, genomics, and diagnostics company manufacturing homeopathic and health products, announced the formation of a new wholly-owned subsidiary, ProPhase BioPharma, Inc. (PBIO), for the development and licensing of new therapeutic compounds, drugs, and biotechnology. The subsidiary will be focused on advancements in technology across the biochemical industry and creating and developing new solutions that can transform the outcomes of healthcare.
The company has also entered into a license agreement with a wholly-owned subsidiary of DSS, Inc., Global BioLife, Inc. (Global BioLife), for Equivir G and Equivir, proprietary compounds that were developed by Global Research and Discovery Group (GRDG). According to the terms of the contract, ProPhase Labs will be the only company that can develop and sell Equivir G and Equivir, globally.
“We are thrilled to announce the formation of ProPhase BioPharma, our new wholly-owned subsidiary tasked with licensing and developing novel drugs, compounds, and biotechnology. We are equally pleased with our first licensing agreement for Equivir and Equivir G, which we believe have significant potential to improve human health outcomes worldwide.”
Ted Karkus, ProPhase Lab’s Chief Executive Officer
He further added, “We plan to pursue commercialization of Equivir as an OTC supplement, leveraging our distribution in over 40,000 Food Drug and Mass retail stores and online direct to consumer. We also look forward to applying to the FDA for an IND for Equivir G as a prescription antiviral.”
Frank. D. Heuszel, Chief Executive Officer of DSS, said “We are excited to team up with ProPhase Labs, which will apply its nearly three decades of experience enhancing the health of the public to Equivir, which we believe to be a ground-breaking treatment that will positively impact health in the U.S. and globally.”