LA JOLLA, Calif., April 18, 2018 /PRNewswire/ -- Artelo Biosciences, Inc. (OTC Pink: ARTL), a biopharmaceutical company focused on the development of therapeutic treatments that modulate the endocannabinoid system, and The Research Foundation For The State University of New York (RF/SUNY), a not-for-profit organization and the largest comprehensive university-connected research foundation in the United States, today announced that they have entered into a license agreement. Under the agreement, Artelo obtains an exclusive worldwide license to an intellectual property portfolio of Fatty Acid Binding Protein (FABP) inhibitor drug candidates, which have multiple potential indications, including cancer, inflammation and pain. During the first year of the agreement, Artelo will collaborate closely with the Stony Brook University team that developed the technology to identify a lead development compound, develop a pharmaceutically acceptable formulation, and evaluate activity in nonclinical animal models across select indications.
"The RF/SUNY agreement gives us access to a differentiated and promising platform that's squarely aligned with our strategic direction and a world-class scientific team with a proven track record of success," said Gregory D. Gorgas, Chief Executive Officer of Artelo. "Working together to evaluate and identify novel FABP inhibitors based upon existing scientific data for clinical development in indications complimentary to our pipeline creates significant opportunity for Artelo."
Fatty Acid Binding Proteins have been identified as intracellular transporters for anandamide, an endocannabinoid produced in the brain that binds to cannabinoid receptors. Animal studies have demonstrated that elevated levels of endocannabinoids can result in beneficial pharmacological effects on stress, pain and inflammation and also ameliorate the effects of drug withdrawal. In addition to these potential applications, Artelo plans to work with Stony Brook to evaluate the utility of FAPB inhibitors to shut down a metabolic pathway in cancer, especially in breast and prostate cancer where emerging nonclinical data is showing significant progress.
"Artelo's disciplined and clinical approach to developing therapeutics focused on the endocannabinoid system makes them the perfect partner to help transform our years of research in this field into commercial markets," added Dale Deutsch, PhD, Professor in the Department of Biochemistry and Cell Biology, Stony Brook University, the program's lead investigator. "Our institution has a strong history and reputation for innovative research and entrepreneurship. Our agreement with Artelo will only further enhance this legacy."
About Artelo Biosciences
Artelo Biosciences, Inc. (OTC Pink: ARTL) is a San Diego-based biopharmaceutical company dedicated to the development and commercialization of proprietary therapeutics targeting the endocannabinoid system. Artelo is rapidly advancing a portfolio of broadly applicable product candidates designed to address significant unmet needs in multiple diseases and conditions, including cancer, pain, and inflammation. Led by proven biopharmaceutical executives collaborating with highly respected researchers and technology experts, the company applies leading edge scientific, regulatory, and commercial discipline to develop high-impact therapies. More information is available at www.artelobio.com and Twitter: @ArteloBio.
About Stony Brook University
Stony Brook University is going beyond the expectations of what today's public universities can accomplish. Since its founding in 1957, this young university has grown to become a flagship as one of only four University Center campuses in the State University of New York (SUNY) system with more than 26,000 students and 2,600 faculty members, and 18 NCAA Division I athletic programs. Our faculty have earned numerous prestigious awards, including the Nobel Prize, Pulitzer Prize, Indianapolis Prize for animal conservation, Abel Prize and the inaugural Breakthrough Prize in Mathematics. The University offers students an elite education with an outstanding return on investment: U.S. News & World Report ranks Stony Brook among the top 50 public universities in the nation. Its membership in the Association of American Universities (AAU) places Stony Brook among the top 62 research institutions in North America. As part of the management team of Brookhaven National Laboratory, the University joins a prestigious group of universities that have a role in running federal R&D labs. Stony Brook University is a driving force in the region's economy, generating nearly 60,000 jobs and an annual economic impact of more than $4.6 billion. Our state, country and world demand ambitious ideas, imaginative solutions and exceptional leadership to forge a better future for all. The students, alumni, researchers and faculty of Stony Brook University are prepared to meet this challenge.
Forward Looking Statements:
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.
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SOURCE Artelo Biosciences, Inc.