Roadman Investments Signs Letter of Intent with CLOV Biopharma Corp.
February 12, 2020-TheNewswire -Vancouver, British Columbia - Roadman Investments Corp. (RMANF) (TSXV:LITT) (FWB:1QD) (OTC:RMANF) ("Roadman Investments" or the "Company") is pleased to announce that it has signed a letter of intent with CLOV Biopharma Corp. ("CBP") pursuant to which Roadman intends to acquire all of the issued and outstanding common shares of CBP.
The mission of CLOV Biopharma Corp. is to conduct further research and development of cedar leaf oil vapour ("CLOV") for the purposes of preventing the spread of Coronavirus and other similar potentially pathogenic respiratory viruses, for example, influenza and para-influenza viruses, and respiratory syncytial virus. CBP intends to manufacture or source a diffuser that is functional with cedar oil that may be effective in killing viruses to prevent them from spreading. CBP has an exclusive license for the right to acquire and use cedar leaf oil vapour, including certain know-how, industry knowledge, and experience relating to CLOV for the pharmaceutical, healthcare, and biotechnology industries.
Previous studies by Dr. James Hudson, Ph.D have shown that most of the human respiratory viruses tested so far have been found vulnerable to cedar leaf oil and cedar leaf oil vapour. It is expected that corona viruses will be similarly vulnerable. In general, the respiratory viruses not only can kill susceptible cells and multiply and spread, but they can also induce the production of excessive amounts of inflammatory cytokines, which can result in chronic inflammation of the lungs, as in bronchitis. Previous tests have shown that cedar leaf oil can inhibit this process in a model cell culture system.
Coronavirus
Coronaviruses (CoV) are a large family of viruses that cause respiratory illness ranging from the common cold to more severe diseases such asMiddle East Respiratory Syndrome (MERS-CoV)andSevere Acute Respiratory Syndrome (SARS-CoV). These two viruses were responsible for pandemics.A novel coronavirus (nCoV), recently formally named "COVID-19" by the World Health Organization,is a new strain that has not been previously identified in humans1.
Coronaviruses are zoonotic, meaning they are transmitted between animals and people. Detailed investigations found that SARS-CoV was transmitted from civet cats to humans and MERS-CoV from dromedary camels to humans. Other known coronaviruses are circulating in animals that have not yet infected humans.
Dr. James Hudson
Dr. James B. Hudson, Ph.D, Professor Emeritus Department of Pathology & Laboratory Medicine at the University of British Columbia, has completed various publications including "The activity of cedar leaf oil vapor against respiratory viruses" in the Journal of Applied Pharmaceutical Science and "The antimicrobial properties of cedar leaf (Thuja plicata) oil" in the International Journal of Respiratory Public Health. Dr. Hudson will assist CBP with further studies to research the effectiveness of CLOV on the Coronavirus.
Dr. Hudson is considered to be one of the foremost virologists in Canada. His qualifications include a BSc (chemistry/physiology), an MSc (biochemistry), a PhD (molecular biology) a post-doctoral fellowship in molecular virology. In addition, he has received visiting professorships in University of Warwick (UK), 1976-1977, and University of Western Australia (Perth WA) in 1990 and 1992.
Of relevance to Coronavirus, Dr. Hudson conducted a study involving seven (7) respiratory viruses that were tested for infectivity following exposure of dried virus films to certified cedar leaf oil vapor for various periods of time. All were susceptible, although the membrane containing viruses, like CoV, were more vulnerable and were readily killed by short exposures without detrimental effects against the human cells.
Luke Montaine, CEO of Roadman Investments commented, "With the death toll from COVID-19 now surpassing that of the SARS epidemic and having forced approximately 50 million human beings currently into quarantine, the global economic and social impact of this virus is of significant concern. Our aim to expand upon the previous scientific research of Dr. James Hudson in an effort to further validate and, if warranted, potentially commercialize a product that may assist in combating the spread of this and other pathogenic viruses."
Under the terms of the letter of intent,Roadman intends to acquire all of the issued and outstanding common shares of CBP in exchange for 13,000,000 common shares of the Company. Further details regarding the proposed transaction with CBP will be provided in a comprehensive news release, if and when, the parties enter into a definitive agreement.
