#Cannabis
Stock News -Patent Filed by Veritas’ (CSE: $VRT.C) (OTC: $VRTHF) Research Arm #Cannevert;
@VeritasPharma
US Patent Office Acknowledges Provisional
Patent Application for Use of Specific #Cannabis Strain to Enhance Opioid
Analgesia
Vancouver,
B.C. - November 29, 2017 (Investorideas.com Newswire) – Cannabis stock news- Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt:
2VP), reports 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.
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
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release.
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