Lifeist Wellness Inc. (TSX-V:LFST, OTCQB:NXTTF) said its US subsidiary Mikra Cellular Sciences Inc has started presales of CELLF, a cellular therapeutic compound for oxidative stress, through its website - wearemikra.com - via monthly subscriptions, to be followed by sales on Amazon US shortly after.
Mikra is also in the process of obtaining a Natural Product Number (NPN) from Health Canada, according to Lifeist. Once it receives an NPN receipt, Mikra anticipates launching a Canadian retail distribution strategy in the third quarter of 2022.
"Lifeist's US 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, in a statement. "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.”
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Mikra has also started its genomic and transcriptomic clinical trials to gather evidence for CELLF at a molecular and cellular level, and will establish a scientific advisory group to consult on CELLF iterations and new products in development.
Lifeist said it recognizes Mikra's potential to help accelerate the company's path to profitability and increasing its total addressable markets outside of Canada through a largely subscription-based product pipeline. Mikra is hoping to capture its share of an estimated US$105 billion nutraceutical market through clear distribution pathways both online and offline, it added.
Toronto-based Lifeist, whose portfolio includes wellness and cannabis companies, has approved a budget for Mikra of up to US$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.
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