PreveCeutical Announces Positive Results Following a Preliminary Safety Evaluation of Sol-Gel Formulations When Applied to Human Nasal Tissue
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2020) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), announces that after successfully developing water-based cannabis extract-infused soluble gel formulations (the "CBD Sol-gel Formulations") (see news release dated July 9, 2019), the Company has now completed a preliminary safety evaluation (the "Evaluation") of selected CBD Sol-gel Formulations in freshly explanted human nasal mucosal tissue (ex vivo).
Over a five-day analysis period during the Evaluation, there was no elevation in "clinically accepted" biomarkers of tissue toxicity. These results would appear to indicate that the selected CBD Sol-gel Formulations that were tested have no acute toxic effects when applied to human nasal mucosal tissue.
As medical research into the effects of cannabinoid acids in modulating disease pathways progresses, it is expected that benefits of cannabinoid acids will emerge, and the Company will be well-positioned with its CBD Sol-gel Formulations.
PreveCeutical's President and Chief Science Officer, Dr. Mak Jawadekar stated, "The results from the Evaluation indicating no acute toxic effects of the selected CBD Sol-gel Formulations on explanted human nasal mucosal tissue is a good finding, and give us confidence to conduct further proof of concept studies."
The CBD Sol-gel Formulations, when used with the Company's customized soluble gel ("Sol-gel") applicator device for direct nose-to-brain delivery (the "Sol-gel Applicator"), is expected to target direct and prolonged delivery of cannabinoids to a patients' central nervous system.
Future repetitive evaluations are required of the Company's sol-gel drug delivery research and development program (the "Sol-gel Program"), which may involve pre-clinical/clinical evaluation of the CBD Sol-gel Formulation.
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 statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the completion of the Sol-gel Program, the development of the CBD Sol-gel Formulation and the Sol-gel Applicator, and, if successful, the ability of the Company to capitalize on its CBD Sol-gel Formulation, the efficacy of the Company's products, matters related to the Company's current and planned research and development programs, including the Sol-gel Program, the Company's anticipated future business plans and its prospect of success in executing thereon. 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 and research and development activities (including in respect of the toxicity and efficacy of the CBD Sol-gel Formulation), performance, industry trends, growth opportunities, and that the Company will be able to obtain the financing required to carry out its planned future business 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 completion of the Sol-gel Program, the development of the CBD Sol-gel Formulation and the Sol-gel Applicator, actual results of research and development programs, 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, commercialise any therapeutic and diagnostic technologies, execute its proposed business plans, pursue business partnerships, complete its research and development programs as planned, including the Sol-gel 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 biotechnology, pharmaceutical or cannabis 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, 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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