Nov 02, 2017, 09:00 ET
VANCOUVER, Oct. 31, 2017 /CNW/ - Valens GroWorks Corp. (CSE: VGW) (the "Company" or "Valens"), is pleased to announce the signing of a Memorandum of Understanding ("MOU") with the Bill Nelems Pain and Research Centre, operating the Okanagan Interventional Pain Clinic, to form a strategic alliance for the purpose of conducting clinical research and development of safe, efficacious and reliable pharmaceutical-grade medicinal cannabis products (CBD and THC combinations) specific for the treatment of particular conditions.
The Bill Nelems Pain and Research Centre ("BNPRC") serves as the main referral pain centre for approximately 750,000 patients within the Interior Health region, as well as patients from the Northern Health region in British Columbia. This centre specializes in comprehensive pain care, including cutting-edge interventional options, and interdisciplinary pain management.
Tyler Robson, CEO of Valens stated, "It is a great honour to forge this alliance with BNPRC, and an opportunity to realize our vision as a high-science company at the forefront of the cannabis sector, and our objective towards becoming a leading purveyor of cannabis products and technologies." Robson adds, "The collaboration of our scientists with front-line physicians fast-tracks the development of effective and reliable pharmaceutical-grade medicinal cannabis products to best serve prescribing physicians and their patients. The resulting formulations will platform an industry-leading Valens RX™ line of products with proven efficacy that doctors, and their patients, can rely on."
Dr. Paul Etheridge, the Medical Director at the BNPRC commented, "Our doctors have been prescribing medicinal marijuana as an alternative to pharmaceutical drugs such as opioids for the treatment of various conditions, including the reduction of chronic pain and PTSD." He continued, "It is however challenging to determine the effective combination of CBD and THC and other cannabinoids for treatment of patients and particular conditions. This collaboration provides us access to Valens' high-level analytical testing capabilities and licensed capability to develop customized medicinal formulations from Cannabis plants."
Dr, Rob O'Brien, President of Valens AgriTech Ltd and Chief Scientific Officer at Supra THC Services, Valens' Health Canada licenced wholly-owned subsidiaries, added, "In order for Cannabis based products to be acceptable as medicines, physicians need to understand the complex relationship between a prescribed dose and how the Cannabis cannabinoids interact with the patient's system. Our Center of Excellence in "Plant Based Medicine Analytics" possesses the advanced instrumentation and scientific expertise needed to measure cannabinoid metabolites as well as the patient's biomarkers. This strategic alliance with front-line physicians will lead to an increased understanding of how Cannabis products interact with the human system and may provide physicians with a natural and effective alternative to opioids and other potentially harmful pharmaceuticals when treating chronic pain and related conditions."
About Valens GroWorks Corp.
Valens GroWorks Corp. is a CSE-listed biotechnology company with an aggressive buildout strategy. The Company seeks to capture a broad spectrum of medical cannabis users, and adult recreational users once legalized, as well as clinical trial and R&D clients, in pursuit of its ambitious "plants to premium products" objectives. The Company also provides management, consulting, testing and support services to domestic and international clients.
The Company operates a 17,000 square foot facility located on two acres in Kelowna, in the heart of British Columbia's Okanagan Valley. Wholly owned subsidiary Supra THC Services Inc. ("Supra") recently announced a collaboration with Thermo Fisher Scientific, a world leader in Health Science services, to develop a "Centre of Excellence in Plant Based Medicine Analytics" to provide analytical services and directed research and development, including clinical trials. Supra, and the Company's wholly owned subsidiary Valens AgriTech Ltd. ("Valens AgriTech"), a Health Canada Licensed Dealer, recently announced a $330,000 MITACS funded research grant to support a collaboration with UBC Okanagan and Thompson Rivers University to explore potential cannabis bio-products including pharmaceuticals, nutritional products, and industrial fiber.
On behalf of the Board of Directors,
VALENS GROWORKS CORP.
(signed) "Tyler Robson"
Chief Executive Officer
Notice regarding Forward Looking Statements
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are 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. The Corporation 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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SOURCE Valens Groworks Corp.
For further information: Saul Katz, Telephone: +1.250.681-4551
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