11/02/2019 17:19:07

Veritas leads Puerto Rico partnership with approval of new Investigation License

SAN JUAN, Puerto Rico, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Veritas Pharma Puerto Rico, Inc., a wholly owned subsidiary of Veritas Pharma, Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas”), in partnership with the Institute for Medical Cannabis (“IMC”) and the Fundación de Investigación (“FDI”) were approved this past Friday for an Investigation License from the Commonwealth of Puerto Rico Medicinal Cannabis Regulatory Board allowing clinical evaluation of their lead cannabis product (“CTL-X”) in alleviating acute pain. IMC and FDI represent two of Puerto Rico’s leading researchers in medicinal cannabis. The concession is also the first of its kind, representing the first collaboration of such by local partners and a foreign-owned and publicly-traded entity.

The trio’s license marks the commencement of the first human trials for medicinal cannabis to be carried out on the island since the approval of the Medicinal Cannabis Act of 2017 by the Commonwealth government. Veritas has licensed the intellectual property of its patented strains to IMC, whom in turn provide samples to the FDI for direct research to be carried out in the latter’s San Juan-based clinical research facilities. The trial will start this week and it is estimated that they will take up to three months to complete.

FDI operates state-of-the-art facilities and includes a 30-bed phase I unit, an in-house bioanalytical laboratory, experienced multispecialty personnel, and the latest in medical technology. CEO and Chief Scientific Officer Dr. José F. Rodríguez-Orengo is a recognized research specialist on the island, who also acts as Associate Director of the University of Puerto Rico School of Medicine’s Department of Biochemistry. In the past, FDI’s clinical trials have been sponsored by seven of the top ten pharmaceutical companies from around the world.

Veritas’ director Nick Standish commented, “We are pleased with the news of receiving this research license in Puerto Rico. The Veritas and Cannevert teams have worked very hard to get to this point, and this license means we can take these next important steps forward that get us that much closer to having a marketable medical cannabis product, backed with real and credible science.”

Veritas’ Medical Director Dr. Scott Alexander states, “After being met with delays of the extended holiday season in Puerto Rico and the recent 35-day US federal government shut down, we are extremely proud to be the first group to obtain an Investigational License and we are very eager to start to study the efficacy of CTL-X in an adult human population. We are also looking forward to collaborating with IMC and what it means for the development of new medical cannabis products. The industry is relatively new, and the offering has yet to catch up with the demand for new and diverse products.” The trials represent Veritas’ latest advancement in Puerto Rico’s market, which has seen exponential growth since the government’s regulation of medicinal cannabis. The number of certified patient licenses has grown 58% since September 2018, when the Regulatory Board rolled out a new online application process for patient licenses. Previously, Board offices were characterized by long lines of citizens applying for their licenses.

About the Institute for Medical Cannabis

The Institute for Medical Cannabis is one of Puerto Rico’s leading industry specialists that provides cultivation, extraction, formulation, multiple forms of production, research, and distribution using the best, award-winning strains, technology, and processes that the industry offers. Located on a private 25-acre farm in Ponce, Puerto Rico, IMC’s facilities and operations are designed to withstand hurricane wind loads, control temperature and humidity, and maximize the island’s natural sunlight. Licensed under Puerto Rico’s State Department Medical Cannabis Health Code, last year IMC became the first local cannabis business to be certified as “Clean Green,” thus surpassing USDA-standards for organic products.

For more information, please visit their website: imc-pr.com

About the Fundación de Investigación

The Fundación de Investigación (or “Foundation for Investigation”) is one of Puerto Rico’s leading clinical researchers with the only Phase 1 and Bio-Analytical Laboratory on the island. The FDI has successfully completed hundreds of FDA-regulated clinical trials sponsored by some of the world’s top pharmaceutical companies. In FDI’s Bioanalytical laboratory, multiple analytical assays have been developed and validated, converting FDI’s clinic to a one-stop-shop for pharmaceutical companies.

For more information, please visit their website: fundaciondeinvestigacion.com

About Veritas Pharma Puerto Rico, Inc.

 

Veritas Pharma Inc. is an emerging pharmaceutical and IP development company, which, through its 100% owned subsidiary Veritas Pharma Puerto Rico, Inc., is advancing the science behind medical cannabis. It is the Company’s aim, through its investment in a Puerto Rico subsidiary to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy, and PTSD, solving the critical need for clinical data to support medical marijuana claims. Veritas’ unique value proposition uses a low-cost research and development model to help drive shareholder value and speed-to-market. Veritas’ investment is led by a strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect IP (cultivars & strains) and sell or license to cancer clinics, the insurance industry, and pharma, targeting multi-billion-dollar markets according to Deloitte’s Insights and Opportunities.

Veritas Pharma Inc. is a publicly traded company in Canada, on the Canadian Stock Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.

For more information, please visit our website: veritaspharmainc.com

On behalf of the Board of Directors

"Dr. Lui Franciosi"

Dr. Lui Franciosi

President and Chief Executive Officer

Further information about the Company is available on our website at www.veritaspharmainc.com or under our profile on SEDAR at www.sedar.com and on the CSE website at www.thecse.com.

Contact Investor and Public Relations at:

Telephone: +1.604.827.5520

Email: ir@veritaspharmainc.com Website: www.veritaspharmainc.com

The CSE has not reviewed, nor approved or disapproved the content of this press release

.

Logo.PNG

Del

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
17 Feb
VWS
  Jeg har nu haft lidt tid til at læse det seneste årsregnskab fra Vestas. Jeg har forsøgt at opsumm..
61
13 Feb
VELO
Her er nogle spørgsmål som jeg ønsker besvaret. Håber i andre vil bidrage med flere spørgsmål som JP..
24
15 Feb
VELO
Jeg kan se på FB-gruppen at er der en diskussion omkring præparatet fra Hansa Medical det evt. ramme..
19
19 Feb
FING-B
Så lukkede FPC over den gamle modstand i dag i 19,55 modstanden var 19,47 og næste stop er nu 21,786..
18
15 Feb
VELO
Jeg har solgt mine Veloxis-aktier, for der er nogle mekanismer i stigningerne i både Chemometec og i..
18
18 Feb
VWS
VESTAS LEADS BREAK-AWAY GROUP OF ONSHORE TURBINE MAKERS (fra 16% til 22% af det totale marked for la..
17
18 Feb
PNDORA
Det er netop kommet frem, at tyske BAFIN, svarende til Finanstilsynet i Dk., har forbudt short posit..
17
18 Feb
CHEMM
Puha, ja hvad venter vi nu på,…… vi trofaste og frelste Chemo aktionærer, Noten, den romantiske og ..
15
19 Feb
VELO
Til dem af jer der ikke er med i FB gruppen: Canada havde, sammen med US, lukket i går. Teorien er, ..
14
18 Feb
VELO
Sjovt at se dem der hårdnakket har påstået, at de er langt også er dem der sælger. Samme personer de..
14

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

Related news
22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
CryptoBlockCon Announces Full Slate of 2019 Events Designed to Connect Blockchain Experts
2
Hillcrest Labs and LG Renew License for Smart TV Technology
3
Exantas Capital Corp. to Report Operating Results for Fourth Quarter 2018
4
The Madison Square Garden Company Announces Iliza Shlesinger Has Been Added to the All-Star Lineup of Garden of Laughs, Presented by Delta Air Lines
5
ACETO Announces Proposed Sale of its Chemicals Business Assets to New Mountain Capital for $338 million

Copyright Berlingske Media 2019  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
20 February 2019 10:21:16
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: ReleaseBuild_20190215.1 - EUROWEB7 - 2019-02-20 11:21:16 - 2019-02-20 10:21:16 - 1000 - Website: OKAY