PreveCeutical signs Intercompany Sol-Gel License Agreement
Vancouver, British Columbia: PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”) (CSE: PREV, OTCQB: PRVCF, FSE: 18H), is pleased to announce that it has entered into a license agreement with its subsidiary PreveCeutical (Australia) Pty Ltd. (the “Subsidiary” or “PAPL”) for the exclusive rights to the Sol-Gel intellectual property and technology for the delivery of cannabinoids (“Sol-Gel License”).
PAPL has an exclusive license agreement with UniQuest Pty Ltd, the commercialization company of The University of Queensland (“UniQuest”), giving PAPL the right to use and sub-license the Sol-Gel technology (patent application AU2020903065 titled “Sol-gel composition”) to deliver naturally occurring cannabinoids and chemically synthesized versions thereof to all regions and membranes of the body including nasal delivery. This license agreement provides PreveCeutical the ability to enter into a commercial transaction with a third-party partner in relation to both the PreveCeutical and PAPL intellectual property in preparation for potential commercialization.
Stephen Van Deventer, PreveCeutical’s Chief Executive Officer, commented, “This intercompany licensing arrangement is a part of the strategic plan for PreveCeutical as it will simplify any potential future commercial transactions as all Sol-Gel License-related intellectual properties will be controlled directly by PreveCeutical, the parent company. Mr. Van Deventer further stated that PreveCeutical has been working tirelessly over the last year to ensure that the Company is in a good position for potential commercialization.”
PreveCeutical is a health sciences company developing innovative options for preventive and curative therapies utilizing organic and natural products. The Company aims to be a leader in the preventive health sciences sector.
With the completion of three of its research programs, the Company is actively working on the development, clinical trials, and commercialization of its products; and has filed a number of provisional patent applications to protect the intellectual property from its research programs.
For more information about PreveCeutical, please visit our website www.PreveCeutical.com or follow us on Twitter and Facebook.
On behalf of the Board of Directors of PreveCeutical
Stephen Van Deventer, Chairman and Chief Executive Officer
For further information, please contact:
Stephen Van Deventer: +1 604 306 9669
Or Investor Relations firstname.lastname@example.org
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