FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “BioELife Corp Adds Pharmaceutical Industry Veteran to Advisory Board for Manufacturing & Distribution of Products to Help Defend Against Viral (COVID-19) and Bacterial Contamination”
BioELife Corp. (OTC: LITH) is pleased to announce that William (Bill) Marciniak is joining its Advisory Board of external experts to assist the Company in its strategic development. Mr. Marciniak brings over 35 years of pharmaceutical and manufacturing experience to help BioELife expand its product line, manufacturing and distributor relationships.
BioELife Corp was created by successful pharmaceutical entrepreneurs dedicated to using nature’s resources to fight pain and infection while reducing the dependency on opioids and their terrible side effects. The Company is uniquely positioned to capitalize on the emerging Cannabinoid market that is growing at phenomenal rates and is expected to reach $20 Billion over the next five years. The Company has created a ‘seed to shelf’ value-added product development and marketing organization with direct contracts for raw materials, scientific proprietary formulation, manufacturing, and distribution of medically focused Cannabinoid products. Additionally, the Company has a BioEDefense line of products that provide advanced protection from viral and bacterial contamination.
On Friday, the stock market rebounded as Wall Street tried to recover from the previous session; dubbed by some as the worst trading day since the Black Monday market crash of 1987. The Federal Reserve took measures to help the economy maintain its momentum in a face of system paralysis due to the recent coronavirus (COVID-19) outbreak. As markets reeled this week, the Federal Reserve announced a plan to pump USD 1.5 Trillion into short-term funding markets over the next two days to help stabilize the financial system, but that appeared to have little effect on Thursday. This was an addition to the Fed’s decision to cut interest rates by half a percentage point in an emergency move in the week prior and it was reported that analysts expect the central bank to cut rates again at its March 18th meeting. The rates affect the cost of borrowing on everything from credit cards to auto loans. “These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak. Reserve management purchases into the second quarter will continue to be conducted with this maturity allocation,” the Federal Reserve Bank of New York said in a statement on Thursday.
In response to the outbreak, governments around the world have focused their resources on curing COVID-19. Besides the research necessary to develop a vaccine, accelerated R&D also focuses on diagnostic techniques, specifically on the scope of blood testing services throughout the industry. For example, researchers around the world are racing to develop antibody tests, also called serological tests, that can confirm whether someone was infected even after their immune system has cleared the virus. According to a report published by American Association for the Advancement of Science (AAAS), disease trackers in Singapore have used an experimental antibody test for COVID-19 to confirm that a suspected patient was infected with the coronavirus. The patient was one of two people who, together, formed a missing link between two clusters of cases that each occurred in a Singaporean church. “The group that developed the test, at Duke-NUS Medical School in Singapore, is among the front-runners, although its assay has to be validated before it is taken into production and deployed widely. In blood samples from recovered patients, the team identified antibodies targeting the spike protein that proved able to block the virus from killing cells in laboratory tests. In parallel, they created synthetic viral proteins that can detect those antibodies in a blood sample without having to use the live virus,” AAAS explains.
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