ProText Mobility Inc (OTCMKTS:TXTM) shares were down 11.11% to $0.00080 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.01. The company has a market cap of $2.34 million at 1.95 billion shares outstanding.
ProText Mobility Inc announced that it has signed an agreement with the Centre International de Developpment Pharmaceutique to conduct a human clinical trial with its product Phytofare Catechin Complex in the country of Mauritius this month.
This study is called “Clinical Trial on Humans to determine the efficacy of Phytofare® for lowering HbA1C levels in II Diabetes patients” and measures how much glucose is bound over a 2-3 month period to determine average plasma glucose concentration. With that, the study objective is to determine the efficacy of Phytofare Catechin Complex for improving the levels of hypoglycemia in people with diabetes as emphasized in the American Diabetes Association’s new 2017 Standards of Medical Care in Diabetes.
“Management recently held extensive meetings with CIDP in Mauritius and were duly impressed with the medical infrastructure and levels of professionalism. Having a qualified team in Mauritius to oversee and manage the human clinical trial is a tremendous asset as the study findings will be subjected to a vigorous peer review. Based on the outcome of the clinical studies, the company intends to submit its findings to the United States FDA under their Botanical Drug classification to obtain clearance to market Phytofare specifically for treating Type II diabetes,” remarked ProText Mobility Inc CEO Roger Baylis-Duffield.
ProText Mobility Inc is a biotechnology company engaged in the development of pharmaceutical applications for the bioavailable Phytofare catechin complex. It operates through two subsidiaries: Plandai Biotechnology South Africa (SA) and Cannabis Biosciences Inc.
Its business units include Cannabis Biosciences, which focuses on developing cannabis extracts under legal government licenses and permits, and Plandai Biotechnology South Africa, which is engaged in the research and clinical testing of bioceutical products, all natural ingredients formulated for pharmaceutical applications and processed under pharma-grade conditions. The company, through its subsidiary Plandai Biotechnology SA, has license around the world to develop pharmaceutical applications and products using the Phytofare catechin complex. The targeted applications for the company’s products include arthritis, inflammation, anti-viral and diabetes-related metabolic syndromes.