VANCOUVER, May 3, 2016 /PRNewswire/ - Cannevert Therapeutics Ltd., the research partner of Veritas Pharma Inc. ("VRT" or the "Company") (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) has obtained an exemption from Health Canada to legally perform cannabis research.
"We're pleased with Health Canada's approval. Cannevert scientists can now begin the hard work of screening the various cannabis cultivars from Whistler Medical Marijuana Corporation," explained Veritas CEO, Lui Franciosi. Health Canada also granted permission for the scientists to use other controlled substances to better understand the effects of cannabis.
Cannevert welcomes this government decision since the regulatory approval and authorization enables the researchers to obtain sufficient varieties of cannabis on a regular basis to ensure rapid scientific progress. The necessary chemical and pharmacological assays have been already calibrated and standardized so allowing full analysis of 2 to 3 cannabis strains on a weekly basis.
Veritas Pharma's aim is to get the most appropriate cultivars into the clinic and obtain the necessary intellectual protection for those showing therapeutic potential for human diseases.
About VERITAS Pharma Inc.
Veritas Pharma Inc. is an early stage pharmaceutical company developing innovative medicinal cannabis cultivars for specific disease conditions such as chronic pain, emesis (nausea/vomiting), and epilepsy. Using a 'lean and mean' approach to product development, the company aims to select candidate cultivars using classical pharmacology techniques and then immediately evaluate them in the clinic to maximize both product value and shareholder return. Veritas's scientists are an inter-disciplinary team that consists of chemists, pharmacologists, anesthetists, and clinical pharmacologists. Their focus is to use their knowledge to streamline the development of cannabis based treatments to capture considerable market share.
On behalf of the Board of Directors Veritas Pharma Inc.
"Dr. Lui Franciosi"
Dr. Lui Franciosi
Chief Executive Officer
The CSE has not reviewed, nor approved or disapproved the content of this press release.
SOURCE Veritas Pharma Inc.