$VRTHF Pharmaceutical Studies & Trials of Individual Cannabinoids Aim To Develop Cannabis Strains That Specifically Target Cancer Pain
Source: InvestorsHub NewsWire
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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