PreveCeutical Granted Approval to Acquire and Use Human Mucosal Tissue for Final Phase of Sol-Gel Program
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2019) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), announces that the Company's research team at the University of Queensland has been granted the necessary approvals from a local hospital's Human Ethics Committee to acquire and use human nasal mucosal tissue (mucosal membrane) for the final phase of the cannabinoid-based, soluble gel ("Sol-gel") drug delivery research and development program (the "Sol-gel Program").
For this final phase of the Sol-gel Program, PreveCeutical intends to study and report on the delivery of the cannabis-infused Sol-gels to freshly explanted nasal mucosal tissue. PreveCeutical has previously demonstrated, using an adult human nasal cast, that the Company's cannabinoid-based Sol-gel is delivered to and retained directly at target tissue high in the nasal cavity when administered with a custom Sol-gel applicator device (the "Sol-gel Applicator") (see news release dated November 19, 2018).
PreveCeutical's President and Chief Science Officer, Dr. Mak Jawadekar stated, "Getting approval to acquire and use human mucosal tissue for this final phase of the Sol-Gel program allows us work on a proof of concept for Sol-Gel delivery in a laboratory setting."
PreveCeutical believes that the outcomes of its Sol-gel Program may be of value to companies interested in delivering cannabinoid/cannabis-based-derived pharmaceuticals to the central nervous system (the "CNS"). Achieving patient benefit from the use of medicinal cannabis for the management of CNS conditions, such as epilepsy, anxiety and depression, may be a function of achieving effective and sustained delivery of the cannabis-based therapeutic to brain tissue. When taken orally, medicinal cannabis can cause gastrointestinal upset, before being absorbed across the gut into the blood stream, where it is rapidly metabolised, and has the potential to interact with other medicines a patient may be taking. As common drug delivery methods do not provide effective and sustained delivery to the brain, the delivery of cannabinoids directly to the CNS remains a significant challenge.
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilising organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel Program; Nature Identical™ peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).
On Behalf of the Board of Directors
"Dr. Makarand (Mak) Jawadekar"
President& Chief Science Officer
For further information, please contact:
Director of Corporate Communications & Investor Relations
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the ability of the Company to acquire human nasal mucosal tissue in quantities necessary to complete the final phase of the Sol-gel Program, and the Company's anticipated business plans and its prospect of success in executing its proposed plans. Often, but not always, forward-looking statements can be identified by words such as "will", "pro forma", "plans", "expects", "may", "should", "budget", "schedules", "estimates", "forecasts", "intends", "anticipates", "believes", "potential", "proposes" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to the risks associated with the completion of Sol-gel Program, actual results from tests using human nasal mucosal tissue and from clinical trials, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing, the inability of the Company, to, among other things, protect its intellectual property, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, commercialize any therapeutics from the Company's research programs, pursue business partnerships, complete its research programs as planned, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the biotechnology or pharmaceutical industry, may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company's filings are available at www.sedar.com.
Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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