PreveCeutical Reaches Milestone in Research Program for Development of Non-Addictive Analgesics
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2019) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), is pleased to announce that it has recently reached a significant milestone in its research program for the development of non-addictive analgesics (the "Research Program") encompassing the design, synthesis and cell-based screening of lead peptide constructs intended for development as non-addictive painkilling medicines as a replacement for highly addictive analgesics, such as morphine.
PreveCeutical's research team previously identified no less than five novel peptide constructs, which preferentially target the receptor subtype which is of interest to the Company and is purported to avoid addictive and tolerance-inducing side effects (see news release dated January 8, 2019).
PreveCeutical's President and Chief Science Officer, Dr. Mak Jawadekar stated, "In light of the recent news regarding some judgements and fines as a result of the lawsuits against certain opioid manufacturers and distributors that marketed and proliferated dangerous painkillers, PreveCeutical's successful advancement of the non-addictive analgesics/painkiller program provides great potential options for a safe and effective means to alleviate the current drug crisis situation."
Furthermore, it was confirmed that this novel subset of peptides demonstrated potency, in a well-accepted functional dose response assay, that is on par with clinically available agents, such as morphine.
Through an iterative process encompassing in silico modelling, peptide library synthesis and screening in a cell-based functional assay, the Company has identified a panel of novel peptide constructs which selectively target the opioid receptor sub-type of interest and are highly potent and stable for extended periods in biological fluids.
PreveCeutical intends for the Research Program to progress into preclinical evaluations of the lead, highly potent and stable peptide candidates in a well-established model of pain and inflammation. Further, PreveCeutical expects that the results of these studies will be reported in due course.
Resignation of Director
PreveCeutical also announces the resignation of Matthew Coltura as a director and member of the audit committee of the board of directors of the Company, effective September 1, 2019. The Company wishes to thank Mr. Coltura for his contributions to the Company and wishes him all the best in his future endeavours.
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing 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 type 2 diabetes and obesity; a soluble gel drug delivery 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
"Stephen Van Deventer"
Chairman and CEO
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 statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, matters related to the Company's current and planned research and development programs, including the Research Program, 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", "plans", "expects", "may", "intends", "anticipates", "believes", "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. Forward looking statements are based on certain assumptions regarding the Company, including expected growth, results of operations, including the Company's research and development activities, performance, industry trends, growth opportunities, and that the Company will be able to obtain the financing required to carry out its planned future activities, retain and attract qualified research personnel and obtain and/or maintain the necessary intellectual property rights it needs to carry out its future business activities. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the Research Program, complexities and delays in connection with research and development activities and the actual results of research and development activities, and the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, commercialise therapeutic and diagnostic technologies, execute its proposed business plans, pursue business partnerships, complete its research and product development programs as planned, including the Research Program, 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 healthcare and cannabis industries in Canada 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, intentions and assumptions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations intentions or assumptions 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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