Pharmaceutical Studies & Trials of Individual Cannabinoids
Aim To Develop Cannabis Strains That Specifically Target Cancer
Pain and Nausea
Coral Springs, FL -- July 18, 2016 -- InvestorsHub
NewsWire -- Medical Cannabis' biggest strength continues to be
science as research and development drives sector forward with more
consumers opting for marijuana over traditional treatment
methods. Investors continue to pour millions of dollars into
the newest studies and development of Medical Marijuana
Applications as more states push towards legalization.
Veritas Pharma Inc. (OTC:VRTHF) (CSE:VRT) is pleased to
announce a corporate update. Within the first two quarters of 2016,
Veritas Pharma has managed to reach significant milestones in
achieving its goals. These milestones include formation of a
uniquely qualified Board of Directors, completion of Private
Placement, as well as initiating the research process and
progressing towards identifying potentially new therapeutic strains
of cannabis.
On April 19th, 2016, Veritas Pharmas Board of Directors was
strengthened by the appointment of Dr. Donald R. Carlow. He was the
former president and CEO of the British Columbia Cancer Agency as
well as principal administrator of various other cancer
organizations in Canada. Dr. Carlow provides substantial
experience and could deliver clinical insight into development of
Veritas new strains for treatment of cancer pain and chemotherapy
induced emesis. His appointment was an addition to an already
versatile Board with significant experience in finance,
pharmacology, and agriculture.
Read the full Veritas Pharma (OTC: VRTHF) (CSE:VRT) Press
Release at: http://financialnewsmedia.com/profiles/vrt.html
Veritas Pharma, through two tranches of non-brokered private
placement, accumulated aggregate gross proceeds of
$1,116,000. The Company is investing these funds in Cannevert
Therapeutics Ltd., a Vancouver, BC company made up of academics at
The University of British Columbia. Their goal is to discover
new Cannabis strains for specific disease conditions.
Cannevert is also attempting to match much of this money with the
help of academic-industry grants as well as scientific tax
credits.
On May 3rd Veritas announced that Cannevert
Therapeutics received a Health Canada exemption to legally purchase
cannabis from a designated supplier for research purposes.
This was a significant event for Cannevert in that it could now
fully conduct chemical and pharmacological screening assays to
determine the therapeutic potential of a variety of cannabis
cultivars. Concurrent with R&D efforts, Veritas Pharma in
conjunction with Cannevert Therapeutics are attempting to protect
potential candidate strains through the filing of patent
applications and acquiring plant breeders rights.
Veritas CEO Lui Franciosi commented, "We are extremely excited now
to see that, with Health Canada exemption and arrival of initial
group of cannabis strains, our work has begun. We believe Veritas
progress is well within our initial set timeline.
In other developments and happenings in the markets: GW
Pharmaceuticals plc (NASDAQ: GWPH), a biopharmaceutical company
focused on discovering, developing and commercializing novel
therapeutics from its proprietary cannabinoid product platform,
announced positive results of the first randomized, double-blind,
placebo-controlled Phase 3 clinical trial of its investigational
medicine Epidiolex (cannabidiol or CBD) for the treatment of
Lennox-Gastaut syndrome (LGS), a rare and severe form of
childhood-onset epilepsy. In this trial, Epidiolex, when added as
an adjunct to the patients current treatment, achieved the primary
endpoint of a significant reduction in the monthly frequency of
drop seizures assessed over the entire 14-week treatment period
compared with placebo (p=0.0135). This trial follows the
announcement in March 2016 of positive results in a pivotal Phase 3
trial of Epidiolex for the treatment of Dravet syndrome. Epidiolex
has Orphan Drug Designation from the U.S. Food and Drug
Administration (FDA) for the treatment of LGS and Dravet
syndrome.
Terra Tech Corp. (OTC: TRTC), a vertically-integrated,
cannabis-focused agriculture company, last month announced it has
expanded its offering of the IVXX Vape Product line with the launch
of the "Z92" cartridges, the second line of cannabis oil
cartridges. This follows the launch of the Company's original Z35
cannabis oil cartridge line in April 2016.
Elite Pharmaceuticals, Inc. (OTCBB: ELTP) announced that the
U.S. Food and Drug Administration (the FDA) has issued a Complete
Response Letter (the CRL) regarding the New Drug Application (the
NDA) for SequestOx (oxycodone hydrochloride and naltrexone
hydrochloride), Elites investigational abuse-deterrent opioid
candidate for the management of moderate to severe acute pain where
the use of an opioid analgesic is appropriate.
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