CORAL SPRINGS, FL, Aug. 10, 2016 /CNW/ - The medical sector of the cannabis industry continues to explode behind constant research and innovative studies for identifying viable cancer treatments and other therapies for different ailments. Increased research through pioneering trials and studies including for example, evaluations in rodents allowing a few select companies to reach breakthroughs.
Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF), an emerging discovery and IP development company, advancing the science behind medical cannabis announced the Company has initiated its crucial next phase of research and development, commencing functional pharmacological evaluations in rodents related to multiple cannabis strains. In particular, Veritas is one of very few companies to investigate the safety and efficacy of whole plant extracts in animal models of specific disease conditions. Veritas Pharma, working with Cannevert Therapeutics Ltd., the Company's exclusive partner and high-level R&D arm, has begun animal testing targeting pain and nausea related to cancer and chemotherapy, respectively. The process is an important stage in evaluating safety and effectiveness compared to standard therapies before human trials. Veritas believes the Company's 'whole plant' approach and methodology, versus research at the molecular level, will provide greater speed-to-market, estimated to be one-tenth the time of traditional pharma.
Read the full Veritas Pharma (VRT.CN - VRTHF.PK) Press Release at: http://financialnewsmedia.com/profiles/vrt.html
Veritas' CEO, Dr. Lui Franciosi stated 'With the core animal models in place, we are screening as many cannabis strains as possible over the next couple of months. We are fortunate to be in Canada with sensible federal regulators as well as legal access to cannabis strains that can be ordered and transported across provincial borders." This all important and highly controlled research follows recognized guidelines and protocols, with submissions made to an animal care committee to safeguard the use of animals and to evaluate the ethical and scientific value of the proposed research. Skill availability is scarce, as talented pharmacologists are in high demand and in limited supply. Veritas believes it has assembled a group of pharmacologists with a successful track record of designing and implementing animal experiments that have produced new medicines.
GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced financial results for the third quarter ended 30 June 2016. "We have now reported two positive Phase 3 trials for Epidiolex and are on track for an NDA filing that includes both the Dravet syndrome and Lennox-Gastaut Syndrome indications. We believe that these Phase 3 data show that Epidiolex has the potential to provide a robust and clinically meaningful reduction in seizures in these highly treatment-resistant populations together with an acceptable safety and tolerability profile," stated Justin Gover, GW's Chief Executive Officer. "Our recent successful financing has provided GW with the necessary capital to move forward with confidence in preparing to execute a highly successful launch."
Canopy Growth Corporation (TSX: CGC) (CGC.V) recently closed a $5.5 million financing with a commercial lending institution. The two facilities, which will be used to refinance building construction and for expenditures related to the purchase of capital equipment, is the second financing agreement that the institution has entered into with Canopy Growth. The three facilities total approximately $7 million.
Abbott Laboratories (NYSE: ABT) announced recently the introduction of Alinity™, its harmonized family of next-generation systems across immunoassay, clinical chemistry, point of care, hematology, blood and plasma screening and molecular diagnostics. Each Alinity platform will include a number of features to help institutions, clinicians and laboratorians better navigate through a pressure-packed health care environment.
Insys Therapeutics, Inc. (NASDAQ: INSY) recently announced financial results for the three-month period ended June 30, 2016. "We are pleased that despite the recent drop-off in volume, Subsys has maintained an approximately 44% market share. We believe that Subsys will continue to provide a very solid financial foundation for the Company, and we remain focused on restoring Subsys scripts to a growth path," said Dr. John N. Kapoor, Chairman, President and Chief Executive Officer of Insys Therapeutics. "The recent FDA approval to market Syndros is excellent news. We are eager to expand our commercial portfolio with a product that we believe has distinct advantages over the current formulation of dronabinol in soft gel capsule and one that will provide significant long-term growth opportunities for Insys. We are proud of our pipeline and believe that product candidates in both sprays and cannabinoids hold great promise. As always, we remain committed to serving the patients who rely on our compounds, while striving to deliver value to Insys stockholders," he concluded.
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