(CSE: $VRT.C), (OTC: $VRTHF) News: US Patent Office Acknowledges
Provisional Patent Application for Use of Specific #Cannabis Strain to Enhance
Opioid Analgesia
Patent Filed by Veritas’ Research
Arm Cannevert
November 28, 2017, Vancouver, B.C. – (Investorideas.com
Newswire) Veritas Pharma Inc.
(CSE: VRT; OTC:
VRTHF;
and Frankfurt: 2VP), (“Veritas” or the “Company”) announces its research arm,
Cannevert Therapeutics Ltd. (“CTL”) filed a provisional patent application to
US Patent and Trademark Office (the “USPTO”) on September 13, 2017 for use of a
specific cannabis strain to enhance the actions of opioid analgesics. An acknowledgement letter from the USPTO was
received recently which provided a filing number of US 62/558,021 for this
application.
Read this news in full at http://www.investorideas.com/news/2017/marijuana/11281CannabisCSEVRT.asp
Opioids are substances that are derived from the opium
poppy plant. They bind to the human
body’s own opioid receptors to provide pain relief or ‘analgesia’ for patients
with acute or chronic pain when prescribed legally; morphine is an example
opioid analgesic. Use of these drugs for
a brief time is considered safe for pain management. However, when they are overprescribed
and/or frequently misused, they produce a sense of euphoria along with
relieving pain. Hence, drug dependence
can occur despite using them as prescribed over prolonged periods with the
potential of fatal overdose. Opioid
overdose contributed to more than 33,000 deaths in 2015 according to US Centers
for Disease Control and Prevention. Heroin and fentanyl are the most widely
known opioids for their illegal, recreational use, abuse potential and fatal
overdoses.
Cannabis contains substances called cannabinoids that appear to bind
to human body’s own cannabinoid receptors to also produce similar effects to those
of the body’s opioids in mediating analgesia and behavioral effects. However, they do not have the same drug
dependence or overdose potential. When
cannabinoids and opioids are combined, they appear to augment each other’s
effects synergistically. Therefore, the
combination may allow for opioids to be used at lower doses with fewer side
effects for the treatment of pain and related addiction. According Coherent
Market Insights*, the global opioids market was approximately USD $17b in
2015 and is forecasted to moderately increase to near USD $26b in 2024. It indicates that legal cannabis is expected
to impact the opioids market growth as it gets adopted as a safe alternative
pain relieving therapy to opioids and it is increasingly being used to address related
addiction. According to the World Drug Report 2016, approximately 17 million
people suffered from opioid drug abuse.
Veritas CEO, Dr. Lui Franciosi stated, “We are pleased with Cannevert’s latest
submission to protect its discovery of a cannabis strain that could potentially
reduce the dose and side effects of clinically used opioids while maintaining a
good pain relieving effect for patients.”
Dr. Franciosi goes on to say, “This strain could be also potentially
useful in addressing the current fentanyl crisis throughout North America. If we’re targeting pain or opioid addiction,
we want to deliver a scientifically tested, standardized product that
clinicians can rely upon.”
Also, to note, the Company will be issuing 1.1 million stock options
based on today’s closing price of CAN$0.81 cents.
*Global Opioids Agonist Drugs Market, By Product Type (Codeine,
Fentanyl, Meperidine, Methadone, Morphine, Hydrocodone), Therapeutic
Application (Pain Management, Cough Treatment, Diarrhea Treatment), and
Geography - Trends, Analysis and Forecast till 2024 (Market Report – March 2017)
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical
and IP development company, who, through its 80% owned Cannevert Therapeutics
Ltd. ("CTL"), is advancing the science behind medical cannabis. It is
the Company aim, through its investment in CTL, to develop the most effective
cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD,
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. Veritas investment
in CTL is led by strong management team, bringing together veteran academic
pharmacologists, anesthetists & chemists. The company's commercial mission
is to patent protect CTL’s 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.
For more information, please visit our website: veritaspharmainc.com
On behalf
of the Board of Directors
"Dr. Lui Franciosi"
Dr. Lui Franciosi
President and Chief Executive Officer
Further information about the Company is available on
our website at www.veritaspharmainc.com or under our profile on SEDAR at www.sedar.com and on the CSE website at www.thecse.com.
Investor
and Public Relations Contact
Veritas Pharma Inc.
Sam Eskandari
Telephone: +1.416.918.6785
The CSE has not reviewed, nor
approved or disapproved the content of this press release.
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