Flavocure Receives "Green Light" from the United States Patent & Trademark Office and Announces Funding Opportunity
Baltimore, Maryland--(Newsfile Corp. - September 18, 2019) - Flavocure Biotech Inc. ("Flavocure" or the "Company"), a cancer research and drug development company, is pleased to announce that the US Patent and Trademark Office has issued patent No. 10,398,674 for the "Therapeutic Agents Containing Flavonoid Cannabis Derivatives Targeting Kinases, Sirtuins, and Oncologic Agents for the Treatment of Cancers".
This proprietary technology is applicable to the treatment of pancreatic related cancers and Flavocure has exclusive rights to the patented technology. Discovered in 1986, flavonoids have long been suspected to have therapeutic potential, but the cannabis flavonoids represent far less than one percent of the plant making it virtually impossible to extract the material in any reasonable quantity. However, researchers at Flavocure first discovered a way to genetically engineer cannabis flavonoids through a proprietary schema synthesis. This led the way to the development of "Caflanone" (also known as FBL-03G), the flagship drug for Flavocure's cancer research.
The patent is the first of its kind, defining the newest innovation in the fight against cancer and signals a first-mover advantage for Flavocure's robust drug pipeline. In Jamaica, Hon. Chairman Dr. Henry Lowe has been studying cannabis and its impact on phytomedicine since 1974. As a co-author of the patent, Dr. Lowe has contributed great intellect and funneled millions of investment dollars to culminate in a breakthrough that Harvard University cancer researchers are calling "major".
Flavocure's Executive Vice Chairman, Clark Swanson states, "The issuance of a patent for this body of research and its potential application to treat human populations demonstrates the scientific rigor from which our research is based. We are grateful to our team of researchers and collaborators who have helped us to prove the efficacy (in-vivo) of our drug and it's clearly novel approach to cancer therapy."
News of Caflanone's efficacy against cancer spread quickly among the medical community as was recently published by news outlets around the world. Researchers at Harvard's Dana-Farber Cancer Institute pronounced the results of the Flavocure drug as having "significant therapy potential". Dr. Wilfred Ngwa, a Professor and scientist at Harvard Medical School stated in an interview with Yahoo Lifestyle, "The most significant conclusion is that tumor-targeted delivery of flavonoids, derived from cannabis, enabled both local and metastatic tumor cell kill, significantly increasing survival from pancreatic cancer". The studies have been further noted by Harvard as the first to demonstrate the potential new treatment for pancreatic cancer while exerting the capability to kill those cells. Dr. Ngwa said, "We were quite surprised that the drug could inhibit the growth of cancer cells in other parts of the body, representing metastasis, that were not targeted by the treatment". The results from Flavocure's drug may greatly enhance the life expectancy of those with terminal cancer, many of whom are often diagnosed in later stages once the cancer has metastasized. "If successfully translated clinically, this will have major impact in treatment of pancreatic cancer," says Ngwa.
Having passed the intense scrutiny of the US Patent and Trademark office, the news of the patent issuance comes on the back of the company's Investigational New Drug ("IND") enabling studies. More than half-way complete, the studies will be submitted to the FDA, positioning the company to enter human clinical trials. Flavocure's Chief Executive Officer, Dr. Ngeh Toyang said, "We will enter Phase 1/2 clinical studies in early 2020. Due to the dire nature of pancreatic cancer, we anticipate gathering patient populations which are outside the clinical study evaluation by participating in the "Right to Try Act".
The Company is also pleased to announce it has agreed to sell shares for up to $1.5 million in gross proceeds in a non-brokered transaction. Proceeds will be used towards conducting further clinical assessment, planning, working capital and general corporate purposes. Flavocure's Director of Regulatory Affairs, Dr. Thomas Lang, Ph.D., said, "No safety concerns have so far been identified in on-going IND enabling studies leaving Flavocure satisfied that the IND submission to the FDA will be successful. This gives us greater confidence to the outcomes of our clinical trials."
Research on Flavocure's drug was recently published in the prestigious peer reviewed journal, Frontiers in Oncology. The results of the preclinical studies indicate the potential for Caflanone to act on its own, without radiation therapy as radiation therapy did not improve results when compared to Caflanone alone. However, Caflanone may be used in combination with other drugs that can simultaneously target many of the key anti-cancer receptors, pathways and mechanisms.
As Flavocure is not listed on any stock exchange outside of Canada or the United States, it will rely on the exemption under US Securities & Exchange rule 506 (b).
We seek safe harbor.
About Flavocure Biotech Inc.
Flavocure Biotech, Inc. (the "Company") is a private corporation based in Maryland, USA. The company aims to be a leader in the transformation of medicinal properties from natural products into new cures for mankind. The Company has focused on the identification of non-cannabinoid bioactive phytochemical properties of cannabis. In collaboration with some of the most prestigious research institutions in the world, the Company discovered scientific breakthroughs in cannabis derived molecules that demonstrate activity against therapeutically validated kinase mutation targets. This led to the company's success in obtaining an FDA Orphan Drug designation for the drug Creserol, which is used in the treatment of Acute Myeloid Leukemia ("AML"). The Company was also issued a United States Patent for the treatment of Pancreatic Cancer from Caflanone (known as FBL-03G). The Company is also committed to developing these drugs for the indication of Glioblastoma Multiforme ("GBM"), an aggressive and deadly form of brain cancer.
This news release may contain "forward looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of business, market and economic risks and uncertainties, and although Flavocure believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Except as required by law, Flavocure disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
For investor relations or further information, please contact:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47869