TORONTO, Aug. 16, 2018 /PRNewswire/ - FSD Pharma Inc. ("FSD Pharma") (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9), announced today the launch of a clinical research collaborative program in Israel, via its strategic R&D partner, SciCann Therapeutics Inc. ("SciCann")
This comprehensive clinical research program will be executed through SciCann's strategic alliance and collaboration agreement with Mor Research Applications Ltd. ("Mor") - the technology transfer office and commercial arm of Clalit Healthcare Services, Israel's largest medical insurer and healthcare provider, which operates a network of 14 full scale hospitals throughout Israel, employs over 9,000 physicians and serves the healthcare needs of over 50% of Israel's population.
As announced previously, FSD Pharma has secured the exclusive licensing rights for the manufacturing and distribution of SciCann's line of proprietary, patent-pending, cannabinoid-based and indication-specific products in Canada.
Under the strategic alliance agreement with Mor, FSD Pharma and SciCann will execute a series of rigorous, randomized, placebo-controlled clinical studies to demonstrate the safety and efficacy of these products, in order to bring to market advanced and innovative cannabinoid-based products that are backed up by solid clinical data achieved through the highest standards of rigorous and objective clinical research typical for the development process of pharmaceutical products.
Zeeshan Saeed, EVP and Director of FSD Pharma, stated "the launch of this clinical study collaboration program in Israel further demonstrates our focus and commitment to bringing disruptive science-based cannabinoid therapies to Canadian patients, and provide them with innovative cannabis products that have been tested and verified in rigorous clinical studies for the highest level of safety and efficacy."
Dr. Zohar Koren, Co-founder and CEO of SciCann, stated "we are thrilled and excited to launch this strategic alliance and clinical research collaboration program with Mor Research Applications. Mor has gained substantial experience and proven track record in recent years in the efficient design and execution of large scale clinical studies with cannabinoid-based products for various hard-to-treat diseases such as GVHD (Graft Vs. Host Disease), ulcerative colitis, Crohn's disease and more. Mor is the perfect strategic partner to enable the execution of a series of proof-of-concept rigorous clinical studies with our line of proprietary indication-specific cannabinoid-based products. We are looking forward eagerly to generating a large pool of much needed clinical data and hard evidence for the potential of cannabinoid-based therapies to treat a wide range of debilitating and hard to treat diseases, results that are much awaited by the global medical and clinical community of researchers in this unique field."
In connection with certain consultant agreements entered into by FSD Pharma, it has issued 2.25 million warrants for class B subordinate voting shares at an exercise price of $0.13 (the "Warrants"). The Warrants expire one year from the date of issuance and include all required statutory hold periods.
About FSD Pharma (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9)
FSD Pharma through its wholly-owned subsidiary FV Pharma, is a licensed producer of marijuana under the Access to Cannabis for Medical Purposes Regulations (ACMPR) having received its cultivation license on October 13, 2017. Headquartered at the former Kraft plant in Cobourg, Ontario, approximately an hour's drive from Toronto, FV Pharma management's mission is to transform the facility into the largest hydroponic indoor cannabis facility in the world. FV Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts and research and development.
About SciCann Therapeutics
SciCann Therapeutics is a Canadian-Israeli specialty pharmaceutical company, dedicated to the development and commercialization of novel and disruptive pharmaceutical products that target and modulate the endocannabinoid system. SciCann Therapeutics is active in the fields of oncology, pain management, neurodegenerative diseases and inflammatory disorders, and develops a line of proprietary products for the treatment of chosen life-threatening conditions that present a high level of unmet need.
SciCann has created a network of collaborations with leading academic centers and medical institutions in Israel in order to engage in cutting edge science and rigorous clinical studies to develop its products, while using the permissive regulatory climate in Israel for performing its R&D programs quickly and efficiently.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the Corporation's indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE FSD Pharma Inc.