March 21, 2018, Vancouver, B.C. – Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) is pleased to announce the Company has completed the 100% takeover of its research arm, Cannevert Therapeutics Ltd. (“CTL”).
As previously announced on February 20, 2018, Veritas and Cannevert entered into an agreement on the potential value of taking over the remaining 20% of Cannevert not already owned by Veritas which resulted into entering a purchase agreement (the “Purchase Agreement“). Davidson & Company LLP (“Davidson”) of Vancouver provided a Fairness Opinion and according to Davidson, a Fairness Opinion is defined as, “any written communication containing a conclusion as to the fairness of a proposed transaction to security holders, from a financial point of view.”
Pursuant to the terms of the agreement, the Company will issue CTL 5,000,000 Common Shares (“Shares”) of Veritas.
The Cannevert acquisition will further enhance and extend the Company’s product offering through development of the most effective cannabis strains, advancing the science behind medical cannabis, providing distribution channels for the Companies patent protected IP (cultivars & strains) products and sell or license to cancer clinics, in Canada, the US, and Europe.
Veritas’ CEO, Dr. Lui Franciosi, stated: “The closing of the Cannevert transaction marks a milestone and Veritas continues to demonstrate its commitment to Cannevert through this increased participation. Plans are to now focus on enhancing the value of its current assets while keeping an eye on the market for additional acquisition opportunities.”
January 10, 2018, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), is pleased to announce that its research arm, Cannevert Therapeutics Ltd. (“CTL“) has signed a clinical research agreement with the FDI Clinical Research (FDI-CR) in San Juan, Puerto Rico, to conduct the first human study of its lead cannabis strain (CTL-X) targeting pain.
This announcement follows a previous release (November 20, 2017), in which CTL announced the signing of a Letter of Intent with FDI-CR to conduct a human study of CTL-X in two stages. The first stage will have an open label design to look at the feasibility of two doses of CTL-X in 5 subjects while the second stage will use a randomized, double-blind, crossover design to assess one dose of CTL-X against a placebo control strain in 16 subjects who will be exposed to various modalities of acute pain.
Prof. Michael Walker, President of Cannevert Therapeutics stated, “Cannevert is pleased to have CTL-X investigated by FDI’s clinical researchers, who are experienced in evaluating all types of treatments for pharma and biotech. We want their help in providing physicians and patients with the best possible scientific evidence for CTL-X as well as our future cannabis therapies.” FDI’s CEO, Dr. José F. Rodríguez Orengo mentioned, “Cannevert’s study sets a precedent for establishing Puerto Rico as a hub for cannabis clinical research. It will be a first for the Island in that a locally grown medical cannabis strain will undergo clinical investigation to assess its therapeutic utility, based on preclinical evidence from formal pharmacological and chemical experiments.” Veritas Pharma’s CEO Lui Franciosi indicated, “We are now closer than ever to seeing CTL-X enter in human trials; if FDI’s study findings suggest that it can produce analgesia, this strain could be available later this year as an acute pain reliever product in Puerto Rican dispensaries.”
Friday, December 29, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), announces that its has completed a prestudy visit of the Fundación de Investigación (FDI) facilities in San Juan, Puerto Rico. This will be the site where the Company’s research arm, Cannevert Therapeutics Ltd. (“CTL“) will be conducting its first human study of CTL-X, a cannabis strain targeting pain management.
As mentioned in a previous release November 20, 2017, a Letter of Intent (the “LOI”) was signed between CTL and FDI to conduct a human study in two stages. The first stage would use an open label design to look at the feasibility of two doses of CTL-X in 5 subjects while the second stage would use a randomized, double-blind, crossover design to assess one dose of CTL-X against a placebo control strain in 16 subjects exposed to various modalities of acute pain.
Veritas’s CEO Lui Franciosi stated, “I recently travelled to Puerto Rico and visited the FDI clinical trial facility. I was very impressed by their Phase I and Phase II-III clinical trial units. They were fully staffed and had a complete array of standard medical and laboratory equipment along with a functioning pharmacy.” Dr. Franciosi went on to say, “Although the island took a big hit by Hurricane Maria this September, most of San Juan’s major clinical centers such as the FDI suffered little or no damage. These buildings were able to operate immediately on generator power; the week before my visit, FDI had their electrical power fully restored.”
Thursday, December 28, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), announces that Health Canada has issued its research and development subsidiary, Cannevert Therapeutics Ltd. (“CTL”) a dealer licence no. 2018/6970 under Health Canada’s Section 9.2 of the Narcotic Control Regulations (“NCR”) that will allow them to possess, produce, analyze, sale, send, transport, and deliver cannabis, hemp and related products.
This is a significant step for CTL in that in conjunction with discovering and developing new therapeutic cannabis strains, it will also be a commercial service provider of chemistry and biological testing services for licensed producers under Health Canada guidelines.
Veritas’ CEO, Dr. Lui Franciosi, stated, “We are excited that Cannevert scientists will now not only be able to obtain a variety of cannabis strains and related products from multiple licensed producers in Canada, but also from around the world with an acquired import permit. They will also be able to produce cannabis liquid extracts and even send them with an export permit to other parts of the world for further laboratory and clinical trial testing.”
Monday, November 20, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP), announces that its research arm, Cannevert Therapeutics Ltd. (“CTL”) has signed a letter of intent with the Fundación de Investigación (FDI) in San Juan, Puerto Rico, to conduct the first human study of CTL-X, its lead cannabis strain targeting pain.
The study will be done in two stages to assess the analgesic effects of this lead strain. The first stage will have an open label design to look at the feasibility of two doses of CTL-X in 5 subjects while the second stage will use a randomized, double- blind, crossover design to assess one dose of CTL-X against a placebo control strain in 16 subjects who will be exposed to various modalities of acute pain.
Veritas’s CEO Lui Franciosi stated, “We are pleased to see Cannevert’s lead strain for pain is finally heading into human trials. It’s important to us to move quickly into this next phase of providing clinical proof of cannabis’ effectiveness, this after our chemical and animal assays delivered favorable results. FDI is a reputable group of clinicians and clinical trialists with a long history of evaluating treatments for major pharmaceutical companies. The Puerto Ricans are becoming world leaders in investigating and selling cGMP medical cannabis and their insights will be valuable. We aim to provide physicians and patients with scientifically tested and clinically proven cannabis therapies targeting pain. In the next year, Veritas’s goal is to have a branded analgesic strain in which its dose and method of administration are standardized to actively compete with over-the-counter analgesics as well as potentially reducing or eliminating opioid use in the acute and chronic pain markets.”
Monday, November 7, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP), announces that 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 in neuropathic pain. An acknowledgement letter from the USPTO was received recently which provided a filing number of US 62/558,066 for this application.
Neuropathic pain is a chronic pain associated with tissue and nerve fiber damage in conditions such as cancer and diabetes, and it is normally treated with anticonvulsants, antidepressants, anesthetics, and steroids. In 2017, the Global Neuropathic Pain Market Research Report Forecast to 2023 is estimated to be $5.5 billion USD and it is expected to grow to $8.1 billion USD in 2023*. The applicants have demonstrated effectiveness of a strain in a pain situation that is normally refractory to treatment with conventional analgesics.
Tuesday, October 24, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), announces that its research arm, Cannevert Therapeutics Ltd. (“CTL”) has hired Medrio Inc. of San Francisco, CA, to provide a data collection through their revolutionary CloudEDCTM technology platform for upcoming clinical trials of its cannabis strains in pain management.
Dr. Lui Franciosi, Veritas Pharma CEO, stated, “This data collection solution will enable us to efficiently collect clinical data in real time for immediate statistical analysis when our pain studies are completed.” Veritas’ priority is to target its strains for chronic pain, in particular cancer pain which has a market of $2.9 billion USD in global drug sales (2015*) and opioids make up 43% of the prescriptions for this use. Dr. Franciosi goes on to say. “If our clinical trials scientifically demonstrate that our strains are analgesic in cancer patients as well as potentially able to reduce opioid use and related side effects**, we will definitely have the attention of physicians who seek evidence on using the best cannabis strains in this market.”
Monday, May 8, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), an emerging discovery and IP development company, is pleased to announce that its research arm, Cannevert Therapeutics Ltd. is moving swiftly towards properly certified and scientifically rigorous clinical trials of a cultivar of significant interest in area of cannabis research.
There are many claims for the usefulness of cannabis in treating various disease conditions. However, many of these trials would not meet the approval of regulatory agencies and thus it is important that Cannevert performs trials of the highest standard that meet regulatory standards. This is important in the case where the material administered is not a single chemical but rather a mixture. Cannevert is working under the hypothesis that synergy exists between the different chemical constituents found in cannabis cultivars. Attempts to mimic this by using the pure cannabinoid molecules has yet to be associated with notably improved therapeutic actions as demonstrated by clinical trials conducted under the surveillance of government regulatory bodies. The use of sufficient and varied animal models enables the Cannevert to ascertain more clearly, and in a defined manner, the true therapeutic potential of cannabis cultivars. With respect to pain and emesis, Cannevert is actively pursuing this clinical route of conducting human experiments to the highest level possible. Obviously, achieving this level is not easy or simple, yet the amount evidence that Cannevert has accrued in this area is thought to be sufficient to persuade regulatory agencies. In view of the increasing workload, and continuing with the goal of implementing clinical trials this year, Cannevert has this month increased its laboratory staff by 25%.
Monday, March 13, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), an emerging discovery and IP development company, is pleased to announce that its research arm, Cannevert Therapeutics Ltd, will soon be entering the security inspection stage of its Health Canada Dealer’s License application to produce, gather or cultivate cannabis for scientific purposes.
Cannevert originally submitted its application on August 23, 2016 to Health Canada’s Office of Controlled Substances; this was processed as a continuation of our previous application by the group’s chemistry team. Cannevert currently holds a Health Canada scientific exemption which allows it to order a set total amount of cannabis using one Canadian licensed producer at a time. The new application will enable the team to produce “whole-plant” extracts, source from multiple licensed producers, and export cannabis materials for research purposes such as clinical trials being conducted overseas. Cannevert also indicated on its application that it would like to be on a public list of licensed laboratories able to conduct such activities with cannabis under the Narcotic Control Regulations; this list can be found at https://www.canada.ca/en/health-canada/services/list-licensed-dealers.htmlVeritas Pharma Inc.
Monday, February 6, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), an emerging discovery and IP development company, is pleased to announce that Dr. Ricardo Rivera Acevedo, a scientist within its research arm, Cannevert Therapeutics Ltd., has been invited to attend the Masterclass on Medicinal Cannabis in Leiden, The Netherlands from March 5-10, 2017.
Bedrocan, a multinational company that has been growing and supplying pharmaceutical grade medicinal cannabis since the early 1980s, hosts this 5-day seminar yearly. The selection process involves selecting from an international pool of applicants with diverse backgrounds and research interests from the industry. Bedocran’s Head of Research and Education, Dr. Arno Hazekamp, has brought together several world experts to review the historical significance, regulatory status, chemical composition, clinical research designs, quality control/assurance matters, and latest cultivation techniques related to medicinal cannabis.
Tuesday, January 31, 2017, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), an emerging discovery and IP development company, is pleased to announce that it is working with its research arm, Cannevert Therapeutics Ltd. to design and implement the first clinical trials of cannabis strains targeting pain. Leading contract research organizations (CROs) with clinical experience of evaluating cannabis and pain are being considered for cost estimates and timelines.
Veritas CEO, Dr. Lui Franciosi indicated that, “Cannevert’s chemical and animal studies have identified suitable strains that warrant immediate human trials, which will be done to the highest standards at institutes of high repute”. Veritas and Cannevert intend to implement these clinical trials this year that meets the highest quality standards, i.e., Good Clinical Practices (GCPs). CROs with experience in evaluating cannabis for the treatment of pain are currently being visited and screened for suitability. Once a site is identified and a contract negotiated, a formal announcement will be made.
Wednesday, October 26, 2016, Vancouver, B.C.
Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), an emerging discovery and IP development company, is pleased to announce that CanniMed Ltd. of Saskatoon, Canada, is the new supplier of cannabis strains for Cannevert Therapeutics Ltd (”CTL”) ongoing research. Veritas and CTL have entered this commitment in order to fulfill their mission to establish a sound scientific basis for the therapeutic uses of cannabis. With the vast number of compounds within the cannabis plant (more than 140 known cannabinoids), CTL will identify and develop the most effective cannabis strains for treatment of specific disease conditions such as chronic pain, cancer pain, PTSD, and emesis.
Veritas Pharma CEO, Dr. Lui Franciosi stated, “Thus far Cannevert Therapeutics has been successful in screening numerous strains in both their chemical and animal assays leading to identification of a few candidate strains. We believe access to a great variety of quality cannabis strains will be key to our success. CTL is excited to evaluate CanniMed’s specialized cannabis strains in Cannevert’s animal screens for analgesia. CanniMed possesses two great qualities: a history of supplying standardized pharmaceutical-grade products and a continued interest in testing the efficacy of their cannabis strains. We share a similar vision in using an evidence-based approach in identifying what will be the most effective cannabis products.”
Tuesday, October 4, 2016, Vancouver, B.C.
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. It’s 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.
Wednesday, May 3, 2016, Vancouver, B.C.
Cannevert Therapeutics Ltd., the research partner of Veritas Pharma Inc. (“VRT” or the “Company”) (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) has obtained an exemption from Health Canada to legally perform cannabis research.
“We’re pleased with Health Canada’s approval. Cannevert scientists can now begin the hard work of screening the various cannabis cultivars from Whistler Medical Marijuana Corporation,” explained Veritas CEO, Lui Franciosi. Health Canada also granted permission for the scientists to use other controlled substances to better understand the effects of cannabis.
Cannevert Therapeutics Ltd. Delivers Its First Quarterly Scientific Progress Report
Thursday, 7 April 2016, Vancouver, BC
Veritas Pharma Inc. (“VRT” or the “Company”) (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP) is pleased to announce that Cannevert Therapeutics Ltd. has delivered its first quarterly scientific progress report.
The report outlines the establishment and standardization of the chemical and pharmacological assays that will be used to screen new cannabis cultivars. Veritas’ CEO, Dr. Lui Franciosi commented, “We are pleased with what the Cannevert team has achieved thus far within budget. We think that the chemical and biological assays now in place will allow us to quickly process different cannabis strains over the coming months.”
Tuesday, 16 February 2016, Vancouver, BC
Veritas Pharma Inc. (“VRT” or the “Company”) (CSE: VRT) announced in a news release dated December 21, 2015, that the Company would invest in Cannevert Therapeutics Ltd. (“CTL”) to assist in the discovery and development of new cannabis cultivars for specific disease conditions.
Below are the key Cannevert scientists:
Wednesday, 10 February 2016, Vancouver, BC
Veritas Pharma Inc (CSE: VRT), a Vancouver-based pharmaceutical company, announced today that the company has named Whistler Medical Marijuana Corp. as its principal supplier of cannabis cultivars. Veritas will purchase cannabis cultivars from Whistler, whom is licensed by Health Canada to produce dried or fresh marijuana as well as cannabis oil, over the next 18 months and supply it to Cannevert Therapeutics Ltd. for preclinical and clinical testing.
"The variety of cannabis that Whistler has to offer will ensure that Cannevert will have the best quality and quantity of material needed to conduct research,” said Dr. Lui Franciosi, CEO of Veritas Pharma.