MYOS CEO Joseph Mannello Issues Letter to Shareholders
2019 in Review and Going Forward... 'It's All About the Fortetropin'
CEDAR KNOLLS, N.J., Jan. 9, 2020 /PRNewswire/ -- MYOS RENS Technology, Inc. ("MYOS" or "the Company") (NASDAQ: MYOS), an advanced nutrition company and the owner of Fortetropin®, a proprietary bioactive composition made from fertilized egg yolk that helps build lean muscle, issued this shareholder letter highlighting its 2019 achievements and the Company's strategy going forward.
Dear Fellow Shareholders,
As the Company moves forward it is important to look back at the last few years. When I joined MYOS, it was clear that we needed to take some significant risks with uncertain outcomes in order to build an outstanding company. No one likes uncertainty, not management, employees, regulators, board members, or shareholders– especially shareholders. However, for a small company to truly succeed it must embrace uncertainty. There really is no other choice.
Some of the major risks that we took included initiating a human clinical study to assess the impact of Fortetropin® in older adults, initiating a veterinary clinical study in dogs to assess the impact of Fortetropin on recovery from orthopedic surgery, launching the Yolked® brand for Sports Nutrition and entering the animal health market. It gives me great pleasure to see that these risks are now bearing fruit for the Company and its shareholders.
We have now moved from a very uncertain future to a promising future where we have products that are backed by clinical research in three areas with explosive growth– Animal Health, Longevity and Sports Nutrition.
Here are the key highlights of 2019:
- Completed randomized, double blind, placebo-controlled clinical study at University of California, Berkeley demonstrating that Fortetropin® increased the rate of muscle protein synthesis in older adults (60-75 years of age) by approximately15%. An abstract based on our clinical trial was accepted and will be presented at the International Conference on Frailty & Sarcopenia Research in March 2020 in Toulouse, France.
- Leveraging results from our human clinical trial at University of California, Berkeley, launched MYOS Physician Muscle Health Formula® at the American Academy of Anti-Aging Medicine (A4M) Conference in Las Vegas, NV in December 2019.
- Completed randomized, double blind, placebo-controlled clinical study at Kansas State University demonstrating that Fortetropin prevented atrophy of disuse and improved recovery for dogs after TPLO surgery and presented the results at the North American Veterinary Conference/VMX in Orlando.
- Established a distribution partnership with Chewy.com for MYOS' Animal Health products.
- Launched the MYOS Canine Muscle Health Formula Vet Strength nutrition product in order to strengthen the company's direct-to-vet distribution channel.
- Obtained U.S. Patent number 10,165,785 related to our advanced manufacturing process for Fortetropin and filed three additional US and PCT applications.
- Established a marketing partnership for YOLKED® with Carli Lloyd (USWNT) and Aaron Gordon (Orlando Magic).
- Initiated a randomized, placebo-controlled crossover study at the Animal Medical Center, New York to study the impact of Fortetropin on serum myostatin levels in dogs over 24 hours.
- Initiated a randomized, double blind, placebo-controlled clinical study at Kansas State University to study the impact of Fortetropin on quality of life (QOL) and mobility in geriatric dogs.
- Initiated a randomized, double blind, placebo-controlled clinical study at McMaster University to study the impact of Fortetropin on atrophy of disuse in young adults.
- Recruited Dante Carnevale (Learfield IMG College) as the company's Chief Strategist, added a digital copywriter and expanded our inside sales force.
- Recruited Albert Ahn, DVM, an Animal Health Industry Senior Executive with over 25 years of industry experience to serve as a Strategic Adviser to MYOS and lead the development of the company's Animal Health Business
- Added three board members who are firmly committed to increasing shareholder value and can help management with their industry experience.
- Eric Zaltas – R&D, process innovation, product launch, and distribution experience in the nutrition industry at Nestle and Post Holdings.
- Andrew Ponte – 20+ years as a senior executive in the pet industry with leadership roles in sales, marketing and finance at Spectrum Brands and Central Garden & Pet.
- Christopher Dewey – a seasoned executive with over thirty years of experience in finance and investment banking who co-founded several companies and holds an MBA from the Wharton School of the University of Pennsylvania.
In 2019 our scientific case for Fortetropin was strengthened with success in two clinical studies. With this scientific foundation, we have developed vibrant brands and marketing programs to get our products into the marketplace in three high growth areas. The marketplace is embracing our products, our brands are resonating with consumers, and most importantly our revenues are growing. We are only in the early stages of this process and we expect greater results from here.
I sincerely thank all MYOS shareholders and customers. We took many risks and embraced uncertainty over the last few years and it is paying off for all stakeholders of MYOS. Thank you for letting us go there and supporting us.
Our entire team greatly appreciates the confidence you have shown in our mission, products, and operations. We will keep you updated on our progress as developments unfold.
Chief Executive Officer
MYOS RENS Technology
About MYOS RENS Technology Inc.
MYOS RENS Technology Inc. (MYOS), "The Muscle Company®", is a Cedar Knolls, NJ-based advanced nutrition company that develops and markets products that improve muscle health and performance. MYOS is the owner of Fortetropin®, a fertilized egg yolk-based product manufactured via a proprietary process to retain and optimize its biological activity. Fortetropin has been clinically shown to increase muscle size, lean body mass and reduce muscle atrophy. MYOS believes Fortetropin has the potential to redefine existing standards of physical health and wellness. For more information, please visit www.myosrens.com.
About Yolked® and Physician Muscle Health Formula®
Yolked, an NSF Certified for Sport® all-natural sports nutrition product and Physician Muscle Health Formula for longevity are both designed to work in conjunction with your protein of choice to help your body utilize that protein more efficiently. Their key ingredient, Fortetropin, is made through a patented process that maintains the vital nutrients of fertilized egg yolks to help build more lean muscle and decrease muscle loss. For more information, please visit www.myosrens.com.
About Myos Canine Muscle Formula®
Myos Canine Muscle Formula (Regular and Veterinarian Strength) is an advanced veterinary health supplement to support muscle health in dogs, featuring Fortetropin as the active ingredient. Fortetropin is made through a patented process that maintains the vital nutrients of fertilized egg yolks to help build more lean muscle and decrease muscle loss. For more information, please visit www.myospet.com.
Any statements in this release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the ability to create new products through research and development, the successful results of strategic initiatives, the success of our products, including Qurr®, Yolked®, MYOS Canine Muscle Formula®, Physician Muscle Health Formula® and MYOS Enteral Nutrition Formula™, the success of our research and development, the results of the clinical evaluation of Fortetropin® and its effects, the ability to enter into new partnership opportunities and the success of our existing partnerships, the ability to generate revenue and cash flow from sales of our products, the ability to increase our revenue and gross profit margins, the ability to achieve a sustainable, profitable business, the effect of economic conditions, the ability to protect our intellectual property rights, competition from other providers and products, the continued listing of our securities on the Nasdaq Stock Market, risks in product development, our ability to raise capital to fund continuing operations, and other factors discussed from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
MYOS RENS Technology
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SOURCE MYOS RENS Technology
Released January 9, 2020