VANCOUVER, British Columbia, August 10, 2016 /PRNewswire/ --
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), ("Veritas" or the "Company"), an emerging discovery and IP development company, advancing the science behind medical cannabis announced the Company has initiated its crucial next phase of research and development, commencing functional pharmacological evaluations in rodents related to multiple cannabis strains. In particular, Veritas is one of very few companies to investigate the safety and efficacy of whole plant extracts in animal models of specific disease conditions.
Veritas Pharma, working with Cannevert Therapeutics Ltd., the Company's exclusive partner and high-level R&D arm, has begun animal testing targeting pain and nausea related to cancer and chemotherapy, respectively. The process is an important stage in evaluating safety and effectiveness compared to standard therapies before human trials. Veritas believes the Company's 'whole plant' approach and methodology, versus research at the molecular level, will provide greater speed-to-market, estimated to be one-tenth the time of traditional pharma.
Veritas' CEO, Dr. Lui Franciosi stated 'With the core animal models in place, we are screening as many cannabis strains as possible over the next couple of months. We are fortunate to be in Canada with sensible federal regulators as well as legal access to cannabis strains that can be ordered and transported across provincial borders."
This all important and highly controlled research follows recognized guidelines and protocols, with submissions made to an animal care committee to safeguard the use of animals and to evaluate the ethical and scientific value of the proposed research. Skill availability is scarce, as talented pharmacologists are in high demand and in limited supply. Veritas believes it has assembled a group of pharmacologists with a successful track record of designing and implementing animal experiments that have produced new medicines.
"This team of specialists brings a wealth of experience and knowledge from past drug discovery programs to this evolving research area. They have now established and implemented animal experiments that can functionally mimic what happens in patients with pain and nausea, and they can infer whether a cannabis strain is any good compared to standard drugs that are normally used to treat these conditions in the clinic," said Dr. Franciosi. Once the team finds a lead cannabis strain, Veritas intends to immediately submit a patent application demonstrating the strain's novelty and utility as well as publish and promote its scientific and clinical merit. A confirmatory clinical trial will eventually be implemented to provide further supporting evidence of the strain's clinical utility.
At this time, Cannevert has sufficient personnel and funding to carry out the animal research that is required. Cannevert intends to apply to match its current research funds through available industry-academic grants. The results of these grant applications are expected to be announced within the Q3 and Q4 2016.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging discovery and IP development company, advancing the science behind medical cannabis. The company's current R&D efforts are to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for real science to support medical marijuana claims.
Our unique value proposition employs a whole plant methodology, using a low cost research and development model to help drive shareholder value and speed-to-market. Veritas is led by strong management, bringing together veteran academic pharmacologists, anesthetists & chemists. The company's commercial mission is to patent protect its IP (cultivars/ strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
Veritas Pharma Inc. is a publicly traded company, which trades in three countries including Canada, on the Canadian Stock Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.
For more information, please visit our website: veritaspharmainc.com
On behalf of the Board of Directors; Veritas Pharma Inc.
"Dr. Lui Franciosi"
Dr. Lui Franciosi
Chief Executive Officer
Further information about the Company is available on our website at http://www.veritaspharmainc.com or under our profile on SEDAR at http://www.sedar.com and on the CSE website at http://www.thecse.com
The CSE has not reviewed, nor approved or disapproved the content of this press release.
DISCLAIMER: Forward-Looking Information: This news release contains certain forward-looking information. All information, other than information regarding historic fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. The forward-looking information contained in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. With respect to the forward-looking information contained in this news release, the Company has made assumptions regarding, among other things, the results of the research and development activities, and the continued ability of the Company to raise additional financing. The forward-looking information contained in this news release is subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including the any future changes to laws pertaining to the use of cannabis derived pharmaceuticals, prices and demand for cannabis derived pharmaceuticals, future currency and interest rates. Additionally, if the Company is unable to obtain additional financing, the Company may be required to curtail activities and/or liquidate its assets or the Company's creditors may seek to seize its assets. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable law, the Company disclaims any obligation to update or modify such forward-looking information, either because of new information, future events or for any other reason. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The CSE has not reviewed, nor approved or disapproved the contents of this press release.
SOURCE Veritas Pharma Inc.