Richmond Hill, Ontario--(Newsfile Corp. - May 18, 2021) - Notox Technologies Corp. (OTC: NTOX) ("Notox" or the "Company") is pleased to announce that it has retained RQM+, a global consulting agency with U.S. headquarters, to assist Notox with the Company's regulatory strategy and filing needs. Through an agreement with RQM+, Notox will be able to gain direct access to more than 400 subject matter experts including former regulators, engineers, PhD medical writers, and biotech experts with the ability to assist in product development and filing for regulatory approvals.
On May 10, 2021, Notox and RQM+ entered into a legally binding consulting agreement for an initial term of 12 months, renewable annually thereafter, and are in the process of preparing for a launch that is expected to occur no later than May 24, 2021. Pursuant to the agreement, RQM+ will bill Notox on a monthly basis for services provided in accordance with hourly rates agreed upon between the parties.
Notwithstanding the devastating impact of COVID-19 on the world, over the past two years the Company has continued to develop its patented Notox aesthetic and drug-free pain management platform. The intellectual property was originally developed by Dr. Frank Papay, MD FACS Chairman Dermatology and Plastic Surgery Institute, Cleveland Clinic, and is owned by The Cleveland Clinic Foundation.
"We have been in frequent contact with RQM+ since we were originally introduced to some of its key people by Cleveland Clinic Innovations in late 2019," commented Zoran Konević, the Company's Chief Executive Officer. "RQM+ has deep knowledge and a stellar reputation in the world of biotech and we could not be more excited to work with them at this important stage of Notox's development. Finding the right group to lead us through this phase of the process is paramount for all our stakeholders."
"Teaming up with RQM+ and having daily access to internal and external resources and experts in the regulatory and quality engineering aspects of design, development, testing and commercialization, should provide our shareholders with comfort that a USFDA filing is imminent," continued Mr. Konević.
About Notox Technologies Corp.
Notox Technologies Corp. (OTC: NTOX) is in the business of developing and commercializing innovative technologies primarily through its wholly owned Nevada subsidiary Notox Bioscience Inc. The Company is seeking to build its distribution capabilities for medical and aesthetic products around the world, and to market a credible, non-toxic alternative to Botox and subsequently develop other features of its Notox technology such as drug-free pain management, body countering, skin tightening and anti-perspiration.
RQM+ is the world's leading medical device and diagnostics focused regulatory and quality consulting firm. They deliver transformative solutions by providing an unrivaled collective expertise, fueled by passion for client success. RQM+ experts are collaborative, laser-focused on client needs, and committed to delivering high value solutions that exceed expectations. For more information, visit RQMplus.com.
For more information, please contact:
John Marmora - CFO
Lisa Casavant - RQM+ Executive Vice President
Safe Harbor Statement and Forward-Looking Statements
This news release may contain forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Such statements may include, but are not limited to, information related to: anticipated operating results; relationships with customers and strategic partners; consumer demand; financial resources and condition; the ability to list any securities for trading on a recognized exchange; changes in revenues; changes in profitability; changes in accounting treatment; changes in management; cost of sales; selling, general and administrative expenses; interest expense; the ability to produce the liquidity or enter into agreements to acquire the capital necessary to continue operations and take advantage of opportunities; and legal proceedings and claims. Except as required by law, the Company assumes no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
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