RETRANSMISSION: COVID-19 Test and Development Programs Update
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2020) - XPhyto Therapeutics Corp. (CSE: XPHY) (FSE: 4XT) (OTC PINK: XPHYF) ("XPhyto" or the "Company") is pleased to announce updates to its infectious disease programs, particularly as they relate to the COVID-19 (SARS-CoV-2) pandemic.
XPhyto's wholly owned German subsidiary, Vektor Pharma TF GmbH ("Vektor"), has entered into a binding standstill agreement with a European biotechnology company for development of a low-cost rapid real-time oral pathogen screening platform (the "Platform"). The enzyme-based Platform was designed for species-specific bacterial pathogen detection in humans and will be expanded to include viral pathogen detection capability. No training is required to operate the test. XPhyto, in collaboration with industry and academic partners, aims to develop the Platform for oral detection of specific viral species and species subtypes, including COVID-19. The Company expects to sign a definitive development agreement in due course.
"An accurate, low-cost, rapid decentralized screening test that provides immediate pathogen detection would be a powerful and disruptive tool in the fight against pandemics. Such a tool would allow for testing on a scale that is not currently possible," said Prof. Dr. Thomas Beckert, Managing Director of Vektor. "Identification and isolation of infected individuals, both symptomatic and asymptomatic, from larger populations is critical to effective pandemic management. The potential applications for an effective screening test would include homes, hospitals, schools, workplaces, transportation services and border services, just to name a few."
Further to the Company's operations and expertise in infectious disease, XPhyto's director, Prof. Dr. Raimar Loebenberg, is reviewing opportunities for therapeutic prevention and treatment of viral lung infections based on clinically validated and published peer-reviewed data. During the coronavirus outbreak in 2009, some natural products were clinically evaluated in comparison to modern conventional anti-viral treatments. In some situations, such as non-life threatening cases, certain natural treatments yielded remarkable results. Prof. Dr. Loebenberg is consulting with hospital pharmacists who are currently using such natural products in the treatment of COVID-19. XPhyto is actively engaged in licencing certain natural therapies for immediate use in Canada.
Prof. Dr. Loebenberg is the Founder and Director of the Drug Development and Innovation Centre, University of Alberta, and is a specialist in pharmaceutical and phytopharmaceutical therapeutics. He has extensive experience in the treatment of infectious and tropical diseases and has particular expertise in the use of phytopharmaceuticals as effective therapeutic agents. Prof. Dr. Loebenberg is the former President of the Canadian Society for Pharmaceutical Sciences.
"The XPhyto team and its global healthcare network have deep scientific expertise in the study and treatment of infectious disease," said Hugh Rogers, CEO of XPhyto. "As a Company and as concerned citizens, we are particularly motivated to work on these projects. It is not often that one can participate in the development of truly disruptive technology with a significant near-term positive social impact."
About XPhyto Therapeutics Corp.
XPhyto is a next-generation cannabis company focused on formulation, clinical validation, and European imports, distribution and sales. XPhyto's 100% owned subsidiary, Vektor Pharma TF GmbH, a German narcotics manufacturer, importer and researcher has expertise in the design, testing and manufacture of thin film drug delivery systems, particularly transdermal patches and sub-lingual (oral) strips. Vektor also holds a number of narcotics licences issued by the German Federal Institute for Drugs and Medical Devices (BfArM), including import and manufacturing permits, as well as EU GMP lab certification. XPhyto's 100% owned German subsidiary, Bunker Pflanzenextrakte GmbH, has been granted a unique German cannabis cultivation and extraction licence for scientific purposes by BfArM. Bunker has two exclusive R&D collaboration agreements with the Technical University of Munich, chair of beverage and brewing technology and Faculty of Chemistry. XPhyto is pursuing additional opportunities in Europe including commercial cannabis 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. XPhyto signed a supply, import and distribution agreement for cannabis oils and isolates with one of the largest, highest quality, and lowest cost cannabis cultivators in the world.
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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 succeed in developing any commercial products; that the sale of any products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; frequent changes to cannabis regulations in Europe, Canada and elsewhere; 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; currency risks; 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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