XPhyto Therapeutics Enters Exclusive Cannabis Research and Development Agreement with the Technical University of Munich
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2019) - XPhyto Therapeutics Corp. (CSE: XPHY) (FSE: 4XT) ("XPhyto" or the "Company") is pleased to announce that its wholly owned German subsidiary, Bunker Pflanzenextrakte GmbH ("Bunker"), has entered into an exclusive cannabis research and development agreement (the "R&D Agreement") with the department of biochemistry at the Technical University of Munich ("TUM").
Pursuant to the R&D Agreement, initial research will focus on the identification and assessment of novel research and development approaches to utilize the cannabis plant and its derivatives, including cannabinoids, terpenes, terpenoids, polyphenols and flavones. Promising targets will be advanced through pilot studies and pending preliminary success, pursued via separate joint research projects on a case-by-case basis for potential commercialization.
"XPhyto is honored to have the privilege of working with TUM. Their commitment to research excellence and their reputation for commercial development makes them a highly attractive partner," said Robert Barth, VP European Corporate Development, XPhyto and Managing Director, Bunker. "TUM's strong interest in cannabis research demonstrates a progressive attitude toward an emerging and highly relevant global industry."
TUM has a reputation as an entrepreneurial institution and is the only technical university in Germany to be recognized as one of the country's "Universities of Excellence" every year since the program began in 2006. TUM has achieved success in all three lines of funding under the Excellence Initiative organized by the German government and the federal states: Institutional Strategy, Clusters of Excellence and Graduate Schools.
About XPhyto Therapeutics Corp.
XPhyto is a science-based cannabis company focused on formulation, clinical validation, and emerging European markets. XPhyto's 100% owned German subsidiary, Bunker Pflanzenextrakte GmbH, has been granted a unique German cannabis cultivation and extraction licence for scientific purposes by the German Federal Institute for Drugs and Medical Devices (BfArM). XPhyto is pursuing additional opportunities in Germany including cultivation, processing, manufacturing, import, and distribution. In Canada, two exclusive 5-year engagements with the Faculty of Pharmacy at a major Canadian university provide certified extraction, isolation, and formulation facilities, drug research and development expertise, as well as commercial analytical testing capability.
For further information, please contact:Hugh Rogers
CEO & Director
VP European Corporate Development
+49 8331 99481 10
Forward looking statements
This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "develop", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "propose" and other similar words, or statements that certain events or conditions "may" or "will" occur, and in this release include the statement regarding the Company's goal of building an industry leading medical cannabis company Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not derive the expected, or any, benefits from the Licence; that the Company may be unable to scale its business; product liability risks; frequent changes to cannabis regulations in Canada and internationally; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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