You have posted your question in the Adobe Illustrator Draw iOS app forum. To get help for your question please post in the Adobe Illustrator desktop forum: https://forums.adobe.com/community/illustrator.
Is your file originally an image or vector file? if it's image you need to heal it by Photoshop, unless if you want to draw over it to copy it.
If the file is vector it will be easy to extract the text.