Lifeist Wellness Inc. LFST (FRANKFURT: M5B) NXTTF announced several business updates regarding its wholly owned U.S. subsidiary, Mikra, Cellular Sciences Inc., including the commencement of presales in the U.S. for its novel cellular therapeutic compound, CELLF, targeted at combating oxidative stress.
Meni Morim, the company’s CEO, called the launch of presale activities for CELLF a “meaningful momentum.”
“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,” Morim said.
In addition, Mikra, Cellular Sciences has commenced its genomic and transcriptomic clinical trials to gather evidence for CELLF at a molecular and cellular level.
Lifeist said that it recognizes Mikra's potential to help accelerate the its 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.
“Multi-omics data is the name of the game now – we’ve entered an era of precision medicine and wellness,” Faraaz Jamal, COO of Lifeist and CEO of Mikra, explained. “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.”
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.
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