Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV:
LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech
company that leverages advancements in science and technology to
build breakthrough companies that transform human wellness, today
announced a number of business updates regarding its wholly owned
U.S. subsidiary, Mikra, Cellular Sciences Inc. (“Mikra”), including
the commencement of presales in the U.S. for its novel cellular
therapeutic compound, CELLF™, targeted at combating oxidative
stress.
“Lifeist’s U.S. portfolio company Mikra is
demonstrating meaningful momentum with today’s launch of presale
activities for CELLF™, founded upon clear consumer research
insight,” said Meni Morim, CEO of Lifeist. “We believe that Mikra
has the real potential to help accelerate Lifeist’s path to
profitability and value creation for shareholders, while
simultaneously improving human health and wellness, and we fully
support Faraaz and the team’s plan.”
Added Faraaz Jamal, COO of Lifeist and CEO of
Mikra, “We are building a different type of biological sciences
company. The real health crisis is not reduced longevity. Humans
are living longer, but they’re not able to enjoy those extra years
because they’re plagued with many chronic issues. But it’s so hard
for us to evaluate longevity or health span because it requires
lifetimes. Multi-omics data is the name of the game now – we’ve
entered an era of precision medicine and wellness. For every
product we launch, we look at how it affects you on a cellular
level by mapping what gene expression pathways are triggered,
positively and negatively. That way, we know that our product is
actually affecting you positively at the most microscopic level:
your cells.”
Mikra, Cellular Sciences has commenced its
genomic and transcriptomic clinical trials to gather evidence for
CELLF™ at a molecular and cellular level.
Lifeist recognizes Mikra's potential to help
accelerate the Company’s path to profitability and increasing its
total addressable markets outside of Canada, through a
predominantly subscription based product pipeline, differentiated
through its transparent R&D pillar that pledges rigorous
clinical testing, the sharing of test result data, and launching
new and improved iterations of existing products. With this unique
selling point, Mikra intends to drive consumer trust and capture
share of a $105 billion U.S. nutraceutical market through clear
distribution pathways both online and offline.
Lifeist has approved a budgetary allocation to
Mikra of up to $8.5 million for the fiscal year 2022, subject to
ongoing achievement of internal milestones governing each new
product, and assuming reinvestment of all anticipated Mikra profits
back into Mikra.
CELLF[1] Presale Commences
With a waitlist of over 40,000 subscribers and
positive feedback at levels of testing, Mikra has launched presale
of its innovative cellular therapeutic CELLF to help combat
oxidative stress, which may manifest in symptoms such as systemic
fatigue, inflammation, and brain fog. Monthly subscriptions at
www.wearemikra.com start at US$88.00 + applicable taxes, for a
30-day supply of 10ml single-serve sachets, with sales on Amazon
USA targeted to commence shortly afterward. With respect to
distribution in Canada, Mikra is in the process of obtaining a
Natural Product Number (NPN) from Health Canada. Subject to NPN
receipt, Mikra anticipates launching a Canadian retail distribution
strategy in calendar Q3 2022.
Mikra’s Data-Driven Product
Pipeline
Mikra subscribes to the mentality that
nutraceuticals specifically meant to affect change at a cellular
level should be more akin to how software and pharmaceutical
companies continually improve and upgrade their products. To do so
Mikra is partnering with precision clinical partners, commencing
with InVivo Biosystems, to accurately evaluate CELLF on a cellular
level and to better understand, with precision and speed, which
human cellular pathways relate to healthy aging and performance.
This insight will fuel CELLF's data warehouse creating a pipeline
of iterative and more effective versions of CELLF. Mikra intends to
share publicly complete data on all trials related to CELLF,
adhering to Mikra's brand pillar of "Transparent R&D" ensuring
a changelog for all subsequent versions of CELLF.
Complementing this transparent R&D approach,
Mikra is in the process of establishing a scientific advisory
group, composed of distinguished physicians and medical researchers
to consult on CELLF iterations and new products in development.
As part of Mikra’s marketing activities, Mikra
has concurrently issued a U.S. consumer facing press release found
here.
About Lifeist Wellness Inc.
Sitting at the forefront of the post-pandemic
wellness revolution, Lifeist leverages advancements in science and
technology to build breakthrough companies that transform human
wellness. Portfolio business units include: CannMart, which
operates a B2B wholesale distribution business facilitating
recreational cannabis sales to Canadian provincial government
control boards; CannMart Labs, a BHO extraction facility for the
production of high margin cannabis 2.0 products; the CannMart.com
marketplace, which provides U.S. customers with access to
hemp-derived CBD and smoking accessories; Australian Vapes, the
country’s largest online retailer of vaporizers and accessories;
Findify, a leading AI-powered search and discovery platform; and
Mikra, a biosciences and consumer wellness company seeking to
develop innovative therapies for cellular health.
Information on Lifeist and its businesses can be
accessed through the links below:
www.lifeist.comwww.cannmart.comwww.australianvaporizers.com.auwww.wearemikra.com
Contacts
Lifeist Wellness Inc.Meni Morim, CEOMatt
Chesler, CFA, Investor RelationsPh: 647-362-0390Email:
ir@lifeist.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release or has in any way approved
or disapproved of the contents of this press release.
Forward Looking Information
This news release contains “forward-looking
information” within the meaning of applicable securities laws. All
statements contained herein that are not historical in nature
contain forward-looking information. Forward-looking information
can be identified by words or phrases such as “may”, “expect”,
“likely”, “should”, “would”, “plan”, “anticipate”, “intend”,
“potential”, “proposed”, “estimate”, “believe” or the negative of
these terms, or other similar words, expressions and grammatical
variations thereof, or statements that certain events or conditions
“may” or “will” happen.
The forward-looking information contained
herein, including, without limitation, statements related to
Mikra’s contribution to the Company’s anticipated path to
profitability and value creation for shareholders, the anticipated
therapeutic benefits of Mikra’s first product CELLF™, the
anticipated budget allocated to Mikra’s development and the
development of its products, the establishment of a scientific
advisory group and the launch of Mikra’s Canadian retail strategy
in the third quarter of this calendar year are made as of the date
of this news release and is based on assumptions management
believed to be reasonable at the time such statements were made,
including, without limitation, that: pre-clinical trials will prove
successful, the Company’s previously filed application for a patent
will be granted, expectations that CELLF will gain market
acceptance along with the expansion of the market for nutraceutical
products, expectations that the allocated budget to Mikra will be
sufficient to pursue its business strategy as anticipated and that
future sales of Mikra’s products through a subscription based model
is the appropriate sales model to contribute to the Company’s path
to profitability, Mikra will be able to attract the distinguished
medical personnel it seeks to consult on iterations of CELLF™ and
new products in development, Mikra will obtain a Natural Product
Number from Health Canada, in a timely manner, enabling Mikra to
distribute products in Canada, management’s perceptions of the
Company’s standing in the online marketplace for nutraceutical and
well products, Lifeist’s beliefs regarding the expected demand for
nutraceutical and wellness products and the expected growth of the
nutraceutical market, the timing of product availability, as well
as other considerations that are believed to be appropriate in the
circumstances. While we consider these assumptions to be reasonable
based on information currently available to management, there is no
assurance that such expectations will prove to be correct. While we
consider these assumptions to be reasonable based on information
currently available to management, there is no assurance that such
expectations will prove to be correct. By its nature,
forward-looking information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. A variety of factors,
including known and unknown risks, many of which are beyond our
control, could cause actual results to differ materially from the
forward-looking information in this press release. Such factors
include, without limitation: unforeseen developments that would
delay Mikra’s ability to launch CELLF as anticipated and in a
timely manner, the risk that preclinical trials are not as
successful as anticipated and do not demonstrate the expected
therapeutic benefits and/or fail to strengthen the Company’s patent
claim, the risk that the expected demand for nutraceutical products
in general and those of Mikra in particular does not develop as
anticipated, the failure to convert the current number of
subscribers on the pre-sales waitlist to actual sales, the
inability to attract qualified physicians and medical researchers
to consult on product development, the failure to obtain the
requisite Natural Product Number from Health Canada resulting in
Mikra not being able to distribute products in Canada, unforeseen
budgetary constraints, redeployment of capital and/or Mikra’s
failure to meet internal milestones governing the development of
any new product, regulatory risk, risks relating to the Company’s
ability to execute its business strategy and the benefits
realizable therefrom and risks specifically related to the
Company’s operations. Additional risk factors can also be found in
the Company’s current MD&A and annual information form, both of
which have been filed under the Company’s SEDAR profile at
www.sedar.com. Readers are cautioned not to put undue reliance on
forward-looking information. The Company undertakes no obligation
to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by applicable law. Forward-looking statements contained in
this news release are expressly qualified by this cautionary
statement.
Source: Lifeist Wellness Inc.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/45a83959-8bb7-4760-b352-cad5dc73a7a6
https://www.globenewswire.com/NewsRoom/AttachmentNg/a2808108-85b7-4137-a01d-7acb3689c4e1
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