TORONTO, Jan. 24. 2012 /CNW/ - Allegiance Equity Corporation (TSXV:ANQ) is pleased to announce that its subsidiary, Prime Pharmaceutical Corporation (Prime), received Health Canada approval for its Relieva™ formulation on December 12, 2011 License NPN 80008437 .
DSE Healthcare Solutions L.L.C., (DSE) Edison, New Jersey recently completed a clinical trial for Relieva™ NPN 8000437 with results exceeding expectations. As a result DSE is funding a new and larger clinical trial of 60 patients with Relieva™ containing twice the concentration of Psorberine™, Relieva`s proprietary active ingredient. The main drawback to other psoriasis and eczema treatments is that greater efficacy comes with greater the irritation and side effects. Psorberine™ and Relieva™ have zero toxicity and irritancy. The Relieva™ with 20% Psoberibe™ will provide a combination of greater effectiveness and relief without side effects.
Relieva™ contains aproprietary concentrated extract that provides immediate relief from itching, irritation and inflammation-associated common problem skin conditions including psoriasis and eczema. Relieva™ has Patents and Patent Applications in numerous countries including the U.S. and Canada.
Psoriasis and Eczema are difficult widespread skin conditions to treat with an estimated $39 billion spent annually in North America for treatments. The potential market in cosmetics for treating other problem skin conditions characterized by dryness, itch and inflammation is many times greater. Global Psoriasis Drugs Market to Exceed $7.3 Billion Dollars by 2015, according to new reports by "Global Industry analysts Inc." with no satisfactory treatment in sight.
Howard J. Donsky, M.D., FRCPC will perform the new clinical trial for DSE. Dr. Donsky is the former head of dermatology at Toronto General Hospital and the University of Toronto. He is a fellow of the American Academy of Dermatology, American Society for Dermatologic Surgery, the Royal College of Physicians of Canada and the Canadian Institute of Facioplastic Surgery. In addition, Dr. Donsky has been the lead investigator in multiple research studies related to various skin conditions including psoriasis, eczema and viral skin infections, having multiple papers published.
DSE is very successful in the marketing of health care, medical and consumer products to the mass food and drug market. Robert C. Stites, the CEO and one of the founders of DSE, was previously President and Chief Operating Officer of Johnson & Johnson Products.
Allegiance took the initiative in establishing Prime in which it holds a 37.5% equity interest or 6,040,458 common shares of Prime out of 16,284,680 common shares issued and outstanding.
About Allegiance Equity Corporation
Allegiance targets markets having clearly identified product deficiencies and dissatisfied patients who suffer common diseases and conditions including Alzheimer's, dementia, diabetes and inflammatory skin conditions. Allegiance then obtains regulatory approvals and patents and then licenses its technologies for royalties and upfront fees.
Allegiance has partnered with Nealanders International Inc. the leading North American technology based ingredient company, to commercialize CinGx™, a unique food additive for the treatment and prevention of Alzheimer`s, dementia and diabetes.
Interest of Management Notice of Intention to Distribute
Palm American Investment Inc. holds. 1,919,997 common shares of Allegiance and is controlled by David Solomon, Marilyn Bloovol and members of their family. Palm American Investment Inc. filed a Notice of Intention to sell up to 500,000 common shares on January 23rd, 2012, by way of private sale or on the market from time to time. There are presently 7,291,081 common shares of Allegiance issued and outstanding.
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For further information:
Allegiance Equity Corporation, David Solomon
SOURCE Allegiance Equity Corporation