PALM BEACH, Florida, November 28, 2017 /PRNewswire/ --
Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF) announces its research arm, Cannevert Therapeutics Ltd. ("CTL") filed a provisional patent application to US Patent and Trademark Office (the "USPTO") on September 13, 2017 for use of a specific cannabis strain to enhance the actions of opioid analgesics. An acknowledgement letter from the USPTO was received recently which provided a filing number of US 62/558,021 for this application. Read this and more news for Veritas Pharma at: http://www.marketnewsupdates.com/news/vrt.html Opioids are substances that are derived from the opium poppy plant. They bind to the human body's own opioid receptors to provide pain relief or 'analgesia' for patients with acute or chronic pain when prescribed legally; morphine is an example opioid analgesic. Use of these drugs for a brief time is considered safe for pain management. However, when they are overprescribed and/or frequently misused, they produce a sense of euphoria along with relieving pain. Hence, drug dependence can occur despite using them as prescribed over prolonged periods with the potential of fatal overdose. Opioid overdose contributed to more than 33,000 deaths in 2015 according to US Centers for Disease Control and Prevention. Heroin and fentanyl are the most widely known opioids for their illegal, recreational use, abuse potential and fatal overdoses. Cannabis contains substances called cannabinoids that appear to bind to human body's own cannabinoid receptors to also produce similar effects to those of the body's opioids in mediating analgesia and behavioral effects. However, they do not have the same drug dependence or overdose potential. When cannabinoids and opioids are combined, they appear to augment each other's effects synergistically. Therefore, the combination may allow for opioids to be used at lower doses with fewer side effects for the treatment of pain and related addiction. According Coherent Market Insights*, the global opioids market was approximately USD $17b in 2015 and is forecasted to moderately increase to near USD $26 bn in 2024. It indicates that legal cannabis is expected to impact the opioids market growth as it gets adopted as a safe alternative pain relieving therapy to opioids and it is increasingly being used to address related addiction. According to the World Drug Report 2016, approximately 17 million people suffered from opioid drug abuse. Veritas CEO, Dr. Lui Franciosi stated, "We are pleased with Cannevert's latest submission to protect its discovery of a cannabis strain that could potentially reduce the dose and side effects of clinically used opioids while maintaining a good pain relieving effect for patients." Dr. Franciosi goes on to say, "This strain could be also potentially useful in addressing the current fentanyl crisis throughout North America. If we're targeting pain or opioid addiction, we want to deliver a scientifically tested, standardized product that clinicians can rely upon."Also, to note, the Company will be issuing 1.1 million stock options based on today's closing price of CAN$0.81 cents. In other industry developments and market performances of note:
Canopy Growth Corporation (TSX: WEED.TO) (OTC: TWMJF) is continuing to develop its hemp operations. It has entered into a definitive agreement to acquire certain assets and intellectual property from Green Hemp Industries Ltd. and its principal, Jason Green. Mr. Green is a veteran hemp farm operator based in Saskatchewan. The transaction marks a major milestone in Canopy Growth's hemp business and is expected to enhance Canopy Growth's vertically integrated field-scale hemp production capabilities. In addition to acquiring Green's farm operations and associated assets, equipment, genetic stock, and other property, Canopy Growth will operate approximately 300 acres of existing hemp production after completion of the transaction, which it anticipates will be scalable to 2,200 acres for the 2018 growing season.
Aphria Inc. (TSX: APH.TO) (OTCQB: APHQF) has achieved another milestone as part of its expansion strategy, obtaining its dealer's license pursuant to the Controlled Drugs and Substances Act under Health Canada. This permits the company to possess, sell and transport medical cannabis oil and resin to international markets. "There is an incredible appetite for high-quality medical cannabis in legal markets around the world. Obtaining our dealer's license is a significant milestone in our international expansion strategy as it enables Aphria to have greater control over importing and exporting medical cannabis oil globally," said Vic Neufeld, Chief Executive Officer of Aphria. "This license will accelerate our speed to international markets and broaden our patient base internationally, resulting in greater revenue for Aphria."
Aurora Cannabis Inc. (TSX: ACB.TO) (OTCQX: ACBFF) wholly owned subsidiary BC Northern Lights (BCNL) and Namaste Technologies Inc. have signed a hardware supply agreement whereby Namaste will be the first third party distributor to sell BCNL's premium home cultivation systems and accessories through its on-line technology platform. Namaste will roll out same-day delivery service of select BCNL products to the Greater Toronto Area (GTA), as well as next-day delivery in most other parts of Canada, to help meet the growth in demand for home gardening systems anticipated with the passing of the federal Cannabis Act to legalize adult consumer use, as well as continued rapid growth of the medical cannabis market.
Isodiol International Inc. (CSE: ISOL.CN) (OTCQB: ISOLF) recently announced it has entered into a binding agreement to acquire 100% of C3 Global Biosciences (C3GBS), a cause driven organization committed to developing sustainable health solutions through the advancement of cannabis science. "Isodiol and C3GBS are truly complementary. We look forward to bringing the C3GBS brand and world class team onboard to pursue the shared vision of providing consumers with the highest quality of bioactive CBD products," said Marcos Agramont, CEO of Isodiol. "By combining the two companies, we can align our efforts strategically to further strengthen our portfolio of assets. This partnership will be aimed at increasing market expertise as we establish both companies as leaders in the CBD market."
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated forty-four hundred dollars for news coverage of the current press release issued by Veritas Pharma Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Contact Information: Media Contact: email: [email protected] +1(561)325-8757
Subscribe to our Free Newsletters!
A wonder drug, soda bicarb or baking soda can be used for skin, teeth, hair, kidneys and much more ...
Melasma, also called as chloasma, is a skin hyperpigmentation problem characterized by brown spots ...
A prosthetic heart valve is an artificial device surgically implanted into the heart to replace a ...View All