Parties Agree to Extend Research to Focus on Medicinal Crop
MONTREAL, March 26, 2020 /CNW/ - Mondias Natural Products Inc. (TSXV: NHP) (the "Company" or "Mondias") specializing in evidence-based natural products for the healthcare, bio-agriculture and functional beverages markets today announces that the Company has successfully completed the initial research studies previously announced with Premier Tech. Premier Tech efficacy results for CELEXT07 confirm that the product has potential as a biocontrol and bio-stimulant agent. As part of the research agreement, Premier Tech has shared study results with Mondias and both parties have completed the 180-day exclusivity period. In addition, both parties have agreed to extend their research collaboration to confirm Mondias' results and protocol on the use of CELEXT07 as a bio-stimulant in medicinal crops under greenhouse conditions.
Mondias CEO Dr. Patrick Frankham stated that "these results confirm that CELEXT07 is a versatile and robust organic agriculture product and that the previous data generated by our CSO Dr. Samsatly and his team in collaboration with the McGill University Faculty of Agricultural and Environmental Sciences are highly reproducible as reported by our colleagues at Premier Tech." Dr. Frankham added that "the Company is positioning CELEXT07 as a commercial product to initiate product sales including ongoing discussions with potential partners. Given our prior experience with cannabis plants and the time to market this represents the best opportunity to monetize the product."
Dr. Jamil Samsatly, Mondias CSO stated that "over the past 6 months, we have continued to advance our agricultural research and developed commercial application protocols for the use of CELEXT07 in various crops." Dr. Samsatly also added that "we have initiated MITACS grant funded research and we have expanded our pipeline of novel organic plant biocontrol and bio-stimulants."
CELEXT07 Target Markets in Canada
As of 2018, there was an estimated 11M square feet of cannabis greenhouse in Canada and an eligible 59M, 53M, 39M square feet of greenhouse tomatoes, peppers and cucumbers in the country. According to Health Canada data there are an estimated 29,193 individuals registered for personal and designated cultivation of cannabis for their own medical purposes at the end of September 2019.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the healthcare, bio-agriculture and organic markets. The company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers for use on household plants, lawns and golf courses and in urban gardens, nurseries, commercial greenhouses and to indoor cannabis growers, in collaboration with McGill's Faculty of Agricultural and Environmental Sciences.
For more information, visit: www.mondias.ca
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Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company's inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company's research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation.
SOURCE Mondias Natural Products Inc.
For further information: Mondias Natural Products Inc., Patrick Frankham, PhD, MBA, Chief Executive Officer, 514-943-1899, [email protected]