VANCOUVER, Oct. 5, 2016 /PRNewswire/ – Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), (“Veritas” or the “Company”) announces that it has received a quarterly research report from Cannevert Therapeutics Limited (CTL), lead researcher for Veritas. The report outlines both general and scientific progress since their last update.
Overall, CTL is a fully functional research company able to efficiently determine the amounts of cannabinoids present in different cultivars with precision and accuracy. This is to confirm that the materials received from cannabis suppliers have the purported characteristics, especially the cannabinoids of interest. In their initial animal studies, CTL has identified a number of cultivars with analgesic actions. They are now performing secondary screening, in particular, the collection of dose-response data for all pharmacological types of actions. The company continues to source more strains across Canada with potential therapeutic characteristics of interest. From a finance perspective, it has been fiscally responsible while ensuring that a six-month operational window is in place at all times. Its funding has been improved by obtaining grants to help reduce research costs for personnel salaries. It has now accumulated a total of 16 committed personnel, comprising faculty, research associates, postdoctoral fellows, graduate students and co-op students. For the remainder of the year, Cannevert aims to acquire more skilled workers, identify further appropriate cultivars or mixtures of cultivars with therapeutic potential, and initiate planning for future clinical trials.
Veritas CEO, Dr. Lui Franciosi, stated “Cannevert research experiments have greatly progressed in both capacity and sophistication. I am impressed by the quality of the research and the team’s expanding capabilities. I believe we have made substantial gains in both developing the required infrastructure (facilities and personnel) and in our actual work to deliver on Veritas goals and timelines.”
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging discovery and IP development company, advancing the science behind medical cannabis. The company’s current R&D efforts are to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for real science to support medical marijuana claims.
Our unique value proposition employs a whole plant methodology, using a low cost research and development model to help drive shareholder value and speed-to-market. Veritas is led by strong management, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect its IP (cultivars/ strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
Veritas Pharma Inc. is a publicly traded company which trades in three countries including 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.