TEL AVIV, Israel and BETHESDA, Maryland, April 26, 2021 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a global leader in the development of cancer related cannabinoid-based medicine, announced today the launching of a new research program for the development of a Melanoma antitumor targeting medicine. The announcement comes amidst the recent completion of a series of preclinical experiments within the company's in-house research facilities demonstrating promising antitumor results on Melanoma cell lines.
The launching of the new research program for the development of Melanoma treatment follows a previous development by the company of Cannabics® RCC-33, a proprietary formula for the treatment of Colorectal Cancer, who demonstrated a 33% reduction in tumor volume and a 35% increase in survival rate in recent in-vivo experiments in mice.
Gabriel Yariv, Cannabics Pharmaceuticals President & COO said: "The company has unique expertise and experience allowing it to develop new antitumor formulas from our built-to-spec in-house drug discovery platform. Accordingly, following our decision to develop an additional antitumor drug candidate to target Melanoma, we were able to produce high quality preclinical data, as well as identify several promising findings that we now plan to further investigate. This method of evaluation organically points towards the path of developing a new drug candidate for the treatment of Melanoma."
Eyal Barad Cannabics Pharmaceuticals' Co-founder and CEO commented: "The company plans to use this new data to initiate in-vivo animal model studies to be included in a future product package that we intend to submit to the US Food and Drug Administration along with a Pre-IND Meeting request."
Melanoma is the most serious type of skin cancer, particularly given its characteristic of spreading deeper into the skin and into other organs. According to the Skin Cancer Foundation the estimated five-year survival rate for U.S. patients whose melanoma is detected early is about 99%, and it is estimated that some 200,000 new cases of Melanoma will be diagnosed in the US in 2021 alone.
About Cannabics Pharmaceuticals:
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S. public company and a global leader in the development of cancer related cannabinoid-based medicine. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer. For more information, please visit www.cannabics.com. For the latest updates on Cannabics Pharmaceuticals follow the Company on Twitter @Cannabics, Facebook @CannabicsPharmaceuticals, LinkedIn, and on Instagram @Cannabics_Pharmaceuticals.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our Company's management and are subject to significant risks and uncertainties. Actual results may differ from those outlined in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission including, without limitation, our latest 10-Q Report filed April 14th, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Cannabics Pharmaceuticals Inc., which are condoned by the Company, must emanate from the Company itself and bear our name as its source.
SOURCE Cannabics Pharmaceuticals Inc.