$CATV News: Category V Biotech, Inc. Announces Exclusive Licensing of Genetic Networks' Intellectual Property for Cannabis Applications
FLORIDA, July 2, 2024 – Category V Biotech, Inc. (OTC: CATV), formerly known as 4Cable TV International, Inc., is pleased to announce significant progress in our relationship with Genetic Networks, LLC (https://geneticnetworks.com/).
While continuing to analyze the acquisition, Category V Biotech and Genetic Networks have agreed to allow CATV to become the exclusive licensee of all Genetic Networks’ intellectual property and technology worldwide for cannabis applications. This agreement allows Genetic Networks time to address internal matters found during due diligence, while Category V Biotech begins its journey into the discovery of medicines using cannabis. This licensing agreement will facilitate close collaboration with Genetic Networks on cannabis research and development, positioning Category V Biotech as a leader in developing cannabis medicines.
Our goal is to screen cannabis and cannabis-derived products to determine their medicinal benefits by utilizing Genetic Networks' extensive disease database accumulated over the past decade while working for pharmaceutical companies and government. Discovering the use of cannabis for specific diseases is key to developing medicines that can be registered with regulatory bodies worldwide and distributed for medical use or treatment.
The exclusive licensing of Genetic Networks’ technologies, including their proprietary platform GeneScape™, will facilitate the rapid and unbiased discovery of optimal drug compounds from cannabis through whole-genome analysis. This exclusive license allows Category V Biotech to expand into the biotech sector of the cannabis industry, leveraging Genetic Networks' expertise in accelerating compound discovery and development for pre-clinical and clinical testing.
"We are excited to welcome Genetic Networks into the Category V Biotech family," stated Michael Feldenkrais, CEO of Category V Biotech. "Their state-of-the-art platform and extensive knowledge will be instrumental as we strive to unlock the full potential of cannabis-based therapeutics. Together, we anticipate bringing novel treatments to patients faster than ever before, as regulated FDA products under the new regulatory environment of the United States." Dr. Gennaro D’Urso, co-founder of Genetic Networks, echoed this enthusiasm, stating, "Category V Biotech shares our dedication to leveraging genetics to revolutionize drug development. By joining forces, we envisage broadening the reach and impact of our platform, ultimately delivering superior medicines to patients in need."
Upon resolving internal matters identified during due diligence, Category V Biotech will complete the acquisition of Genetic Networks. Following the transaction, Genetic Networks will operate as a wholly owned subsidiary of Category V Biotech, retaining its existing management team and facilities. Category V Biotech plans to leverage Genetic Networks' capabilities across its global cannabis operations, including cultivation, biotech research, and retail. This transaction culminates years of discussions, awaiting the right moment for research and development in the United States to create pharmaceutical-grade products using cannabis.
The recent changes in the rescheduling of cannabis from Controlled Substance I to Controlled Substance III, reflecting a change in U.S. policies, has paved the way for Category V Biotech and Genetic Networks to capitalize on emerging opportunities in the cannabis industry, driving innovation and advancing therapeutic solutions for patients. Category V Biotech remains actively engaged in pursuing additional acquisitions in the cannabis industry as part of its growth strategy, with further transactions expected to be announced in the coming months.
About Genetic Networks, LLC
Established in 2015, Genetic Networks, LLC has been at the forefront of serving three of the top ten bio-pharmaceutical companies with its GeneScape™ technology. GeneScape™ expedites drug asset development through applied molecular biology, offering a multidimensional map of diseases and drugs that integrates genome-wide functional assays of drug activity (H-Tech) and human genes and gene variants (Y-Tech) using proprietary analytics. Genetic Networks' GeneScape™ platform accelerates the discovery and development of optimal candidate compounds for pre-clinical and clinical testing, identifying the optimal intersection between targets and compounds in specific disease spaces through whole-genome genetic perturbation and analysis. About Category V Biotech, Inc. Category V Biotech, Inc. (OTC: CATV) aims to establish and operate a fully integrated global cannabis company, encompassing biotech research, cultivation, manufacturing, and retail. Through strategic acquisitions and organic growth, the company strives to emerge as the world's leading provider of pharmaceutical cannabis-based products and therapies.
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