Dr. Lui Franciosi reports
VERITAS' RESEARCH ARM CANNEVERT SIGNS A MATERIAL TRANSFER AGREEMENT WITH THE INSTITUTE FOR MEDICAL CANNABIS OF PUERTO RICO
Veritas Pharma Inc.'s research arm, Cannevert Therapeutics Ltd. (CTL), has signed a material transfer agreement with the Institute for Medical Cannabis Corp. of Puerto Rico. IMC will provide Cannevert with specific cannabis strains for coming human studies in the U.S. territory.
IMC is the first licensed medical cannabis company under the State Department Medical Cannabis Health Code to supply a variety of the high-quality medical cannabis products for the medical community. It has a state-of-the-art facility in Ponce that provides cultivation, extraction, formulation, multiple forms of production and research using the best, award-winning strains, technology and processes in the industry.
IMC operates in a 44,000-square-foot building with 15,000 square feet of indoor cannabis under lights with an additional 1,800 square feet of ISO Class 7 clean-room class manufacturing space.
Veritas's chief executive officer, Dr. Lui Franciosi, stated: "We are pleased that Cannevert has identified a reputable producer that is focused on providing certified quality products, educating the medical community on the potential benefits of cannabis and conducting clinical research on its products. They will enable us to get medical-grade strains of interest into the clinic and scientifically evaluated against different kinds of pain."
About Veritas Pharma Inc.
Veritas Pharma is an emerging-stage pharmaceutical and IP (intellectual property) development company, which, through its 80-per-cent-owned Cannevert Therapeutics, is advancing the science behind medical cannabis. It is the company's aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD (posttraumatic stress disorder), solving the critical need for clinical data to support medical marijuana claims. CTL's unique value proposition uses a low-cost research and development model to help drive shareholder value and speed to market. The company's commercial mission is to patent protect CTL's IP (cultivars and strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multibillion-dollar global markets.
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