CORAL SPRINGS, Florida, July 18, 2016 /PRNewswire/ --
Medical Cannabis' biggest strength continues to be scienceas research and development drives sector forward with more consumers opting for marijuana over traditional treatment methods. Investors continue to pour millions of dollars into the newest studies and development of Medical Marijuana Applications as
Veritas Pharma Inc. (OTC:VRTHF) (CSE:VRT) is pleased to announce a corporate update. Within the first two quarters of 2016, Veritas Pharma has managed to reach significant milestones in achieving its goals. These milestones include formation of a uniquely qualified Board of Directors, completion of Private Placement, as well as initiating the research process and progressing towards identifying potentially new therapeutic strains of cannabis.
On April 19th, 2016, Veritas Pharma's Board of Directors was strengthened by the appointment of Dr. Donald R. Carlow. He was the former president and CEO of the British Columbia Cancer Agency as well as principal administrator of various other cancer organizations in Canada. Dr. Carlow provides substantial experience and could deliver clinical insight into development of Veritas' new strains for treatment of cancer pain and chemotherapy induced emesis. His appointment was an addition to an already versatile Board with significant experience in finance, pharmacology, and agriculture.
Read the full Veritas Pharma (OTC: VRTHF) (CSE:VRT) Press Release at: http://financialnewsmedia.com/profiles/vrt.html
Veritas Pharma, through two tranches of non-brokered private placement, accumulated aggregate gross proceeds of $1,116,000. The Company is investing these funds in Cannevert Therapeutics Ltd., a Vancouver, BC company made up of academics at The University of British Columbia. Their goal is to discover new Cannabis strains for specific disease conditions. Cannevert is also attempting to match much of this money with the help of academic-industry grants as well as scientific tax credits.
On May 3rd Veritas announced that Cannevert Therapeutics received a Health Canada exemption to legally purchase cannabis from a designated supplier for research purposes. This was a significant event for Cannevert in that it could now fully conduct chemical and pharmacological screening assays to determine the therapeutic potential of a variety of cannabis cultivars. Concurrent with R&D efforts, Veritas Pharma in conjunction with Cannevert Therapeutics are attempting to protect potential candidate strains through the filing of patent applications and acquiring plant breeder's rights. Veritas CEO Lui Franciosi commented, "We are extremely excited now to see that, with Health Canada exemption and arrival of initial group of cannabis strains, our work has begun. We believe Veritas' progress is well within our initial set timeline."
In other pharma developments and happenings: Insys Therapeutics, Inc. (NASDAQ: INSY) recently announced that the U.S. Food and Drug Administration (FDA) has approved Insys' dronabinol oral solution, SyndrosTM, an orally administered liquid formulation of the pharmaceutical cannabinoid dronabinol, a pharmaceutical version of tetrahydrocannabinol ("THC"). Syndros is approved for use in treating anorexia associated with weight loss in patients with AIDS, and nausea and vomiting associated with cancer chemotherapy in patients who have failed to respond adequately to conventional antiemetic treatments. Syndros is currently awaiting scheduling by the U.S. Drug Enforcement Administration.
GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced positive results of the first randomized, double-blind, placebo-controlled Phase 3 clinical trial of its investigational medicine Epidiolex® (cannabidiol or CBD) for the treatment of Lennox-Gastaut syndrome (LGS), a rare and severe form of childhood-onset epilepsy. In this trial, Epidiolex, when added as an adjunct to the patient's current treatment, achieved the primary endpoint of a significant reduction in the monthly frequency of drop seizures assessed over the entire 14-week treatment period compared with placebo (p=0.0135). This trial follows the announcement in March 2016 of positive results in a pivotal Phase 3 trial of Epidiolex for the treatment of Dravet syndrome. Epidiolex has Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for the treatment of LGS and Dravet syndrome.
In recent FDA events of importance: Pfizer Inc. (NYSE: PFE) recently announced that Prevnar 13® (Pneumococcal 13-valent Conjugate Vaccine [Diphtheria CRM197 Protein]) received U.S. Food and Drug Administration (FDA) approval for an expanded age indication to include adults 18 through 49 years of age, in addition to the already approved indication for adults 50 years and older, for active immunization for the prevention of pneumonia and invasive disease caused by 13 Streptococcus pneumoniae (S. pneumoniae) serotypes (1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F, and 23F). Prevnar 13 is the only pneumococcal vaccine approved across the lifespan.
Abbott Laboratories (NYSE: ABT) announced that the U.S. Food and Drug Administration (FDA) has approved the Tecnis Symfony® Intraocular Lenses for the treatment of cataracts. The first in a new category of intraocular lenses (IOLs), the Tecnis Symfony lenses are the only lenses in the United States that provide a full range of continuous high-quality vision following cataract surgery, while also mitigating the effects of presbyopia by helping people focus on near objects. The FDA approval includes a version of the lens for people with astigmatism, the Tecnis Symfony Toric IOL.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com. Follow us on Facebook: facebook.com/financialnewsmedia and Twitter: twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG 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. FNMG'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. FNMG 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 FNMG has been compensated three thousand nine hundred dollars for news coverage of the current press release issued by Veritas Pharma by the company. FNMG 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 FNMG undertakes no obligation to update such statements.
Contact Information: [email protected]
SOURCE FN Media Group LLC
Subscribe to our Free Newsletters!
Niemann-Pick disease is a group of inherited metabolic disorders in which cholesterol and lipids ...
Raspberries are packed with important nutrients, vitamins and minerals. They help boost immunity, ...
Adult immunization is needed for adults whose mandatory childhood vaccines were either missed out ...View All