Nutra Pharma acquires remaining interest in ReceptoPharm

Prior to the acquisition, Nutra Pharma owned 38.1% of ReceptoPharm. The acquisition of the remaining interest in Receptopharm provided Nutra Pharma with 100% of the outstanding ReceptoPharm stock and complete ownership of the ReceptoPharm intellectual property. In return, ReceptoPharm shareholders received 30 million shares of Nutra Pharma’s common stock.

Paul Reid, CEO of ReceptoPharm, said: “Joining the Nutra Pharma family provides us with the resources needed to complete our various clinical trials. We look forward to initiating several additional human trials in 2008 and 2009.”