Source: PreveCeutical Medical Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • PreveCeutical Medical (PREV) has signed a licence option agreement with Endosane Pharmaceuticals GmbH, a subsidiary of Sanity Group
  • The agreement grants Endosane an option to license the sol-gel technology for the delivery of cannabinoid products on an exclusive basis
  • The purpose of the option agreement is for Endosane to evaluate the bioavailability of cannabinoids with the sol-gel technology
  • PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products
  • PreveCeutical Medical Inc. opened trading at C$0.035

PreveCeutical Medical (PREV) has signed a licence option agreement with Endosane Pharmaceuticals GmbH, a subsidiary of Sanity Group.

The agreement grants Endosane an option to license the sol-gel technology for the delivery of cannabinoid products on an exclusive basis.

The purpose of the option agreement is for Endosane to evaluate the bioavailability of cannabinoids with the sol-gel technology.

It is expected that the use of the technology will result in significantly improved cannabinoid uptake compared to conventional dosage forms.

Endosane is currently in phase 2B of a clinical trial program for its cannabinoid pharmaceutical product for schizophrenia treatment.

Endosane is engaged in the discovery, development and commercialization of drugs and pharmaceutical products for the treatment of various indications through direct or indirect targeting of the human endocannabinoid system.

“We are very pleased that PreveCeutical Medical has entrusted us with their technology for further targeted investigation,” said Max Narr, Managing Director of Endosane.

“While we will first have to wait and see whether the previous assumptions reflect those results from corresponding studies, we are optimistic that this technology will be a decisive step forward in the development of our drugs,” he added.

“Subject to successful evaluation, Endosane will be using PreveCeutical’s technology to advance from Phase 2 to Phase 3 of its clinical trial program for its cannabinoid pharmaceutical product for schizophrenia treatment – if successful, we believe this would increase the value of our sol-gel technology and ultimately be beneficial to both companies,” stated Stephen Van Deventer, CEO and Chairman of PreveCeutical.

If the option to license the Sol-Gel technology is exercised, in consideration of the rights granted, the licence agreement is expected to contain certain milestones, which will require payments to be made by Endosane to PreveCeutical when each milestone is met and approved.

Endosane Pharmaceuticals GmbH, a joint venture between an international team of scientists and the Berlin-based health and life science company Sanity Group, develops finished medicinal products for the treatment of neuropsychiatric and psychiatric disorders.

Sanity Group has set itself the goal of improving the quality of life of people through the sensible use of cannabinoids and the use of the endocannabinoid system.

PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products.

PreveCeutical Medical Inc. opened trading at C$0.035.


More From The Market Herald

" @ the Bell: Tech leads TSX comeback

It was another rocky day for Canada’s main stock index that ultimately ended up in the green thanks to a lead powered by
Geomega Resources - President & CEO, Kiril Mugerman

" Geomega Resources (TSXV:GMA) granted $3M for recycling demo plant

Geomega Resources (GMA) has been awarded a $3 million grant from the government of Quebec’s Technoclimat Program.
First Hydrogen Corp. - CEO of Automotive, Steve Gill.

" First Hydrogen (TSXV:FHYD) unveils next gen FCEV images

First Hydrogen (FHYD) has received the initial Generation II images for its hydrogen fuel cell vehicle (FCEV), designed in collaboration with EDAG Group.
The Tugaske Project.

" Gensource Potash (TSXV:GSP) closes non-brokered private placement

Gensource Potash Corporation (GSP) has closed its previously announced non-brokered private placement of units and flow-through common shares.