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Morning traders,
FITX monster news out!
CEN Biotech Inc. (FITX) Enters into Licensing and Operating Agreement with RXNB Inc. for Technology Use and Transfer for Worl...
Date : 01/31/2014 @ 8:00AM
Source : Access Wire
Stock : Creative Edge Nutrition, Inc. (PC) (FITX)
Quote : 0.0597 0.0 (0.00%) @ 7:19AM
CEN Biotech Inc. (FITX) Enters into Licensing and Operating Agreement with RXNB Inc. for Technology Use and Transfer for Worl...
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MADISON HEIGHTS, MI / January 31, 2014 / ACCESSWIRE / Creative Edge Nutrition, Inc. (PINKSHEETS: FITX), is proud to announce that it has entered into a licensing and operating agreement with RXNB Inc. RXNB Inc. has a portfolio valuation of $110 million dollars and approximately $27.5 million dollars in annual revenue. It represents a recent merger of a multitude of independent companies in the pharmaceutical and nutraceutical space.
RXNB Inc. is an investment company with holdings in drug formulation, manufacturing, and distribution. It also has a pharmacy division, which dispenses prescription drugs direct to approximately 50,000 patients per month in the USA. It has holdings in dietary supplement manufacturing, retail and e-commerce nutrition, and a dietary supplement distribution and fulfillment company, which sells direct to stores around the world.
RXNB Inc. has numerous patents pending in the field of THC research and development and possesses technology pending patents which supply cutting edge grow technologies in the field of medical marijuana. In particular, these technologies and pending patents focus on the cGMP manufacturing and growing process of medicinal marijuana.
RXNB Inc. also owns a distribution network which supplies approximately 2700 clinicians with tailored functional medicine across the US. It operates its own call center and owns software technologies in the field of tailored specialty drugs and batch record keeping in compliance with USP 797. In addition, it owns software technologies which maintain and perform features of compliant monthly auto shipment processes. It has a grass roots national sales force which calls upon, sells and educates physicians nationwide.
Bill Chaaban, President and CEO stated, "We are extremely excited to have entered into a licensing and technology transfer agreement with RXNB Inc. RXNB Inc. has numerous divisions and specialties in the Drug and Dietary Supplement field. It possesses expertise in the manufacturing of drugs and dietary supplements in a GMP and cGMP environment. It possesses patents pending in grow technologies which will allow a perpetual grow cycle of approximately 35 days; significantly reducing the traditional grow cycle for medical marijuana. In addition, it also possesses technologies which will aid in the growth of medicinal marijuana in a sterile environment. This inhibits the adulteration and infestation of our plants. This could save millions of dollars per year in lost revenue. We have also licensed grow technologies which will significantly increase our yield per plant per square foot. Maximizing efficiencies and minimizing risk through sterile cGMP containment procedures."
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