PreveCeutical Signs Non-Disclosure Agreement with World Leading Specialized Drug Delivery Device Manufacturer
Vancouver, British Columbia: PreveCeuticalMedical Inc. (the “Company”or “PreveCeutical”) (CSE: PREV, OTCQB: PRVCF, FSE: 18H), announces that it has signed a non-disclosure agreement (the “NDA”) with a globally recognized, innovative drug delivery device manufacturer (the “Manufacturer”). The NDA will allow the Company to enter into discussions with the Manufacturer for the supply of spray devices for use in the Company’s soluble gel (“Sol-gel”) drug delivery research program (the “Program”).
The Company’s research partner, The University of Queensland, has received various prototype spray devices from the Manufacturer at the Pharmacy Australia Centre of Excellence, where research on the Sol-gel Program and testing of the devices for the Program is being conducted. The research and testing is being led by PreveCeutical’s Chief Research Officer, Dr. Harendra Parekh.
PreveCeutical intends to use the Sol-gel technology to develop therapies for a range of symptoms, including pain, inflammation, seizures and neurological disorders (see news release dated April 24, 2017). Engineered Sol-gels present an ideal platform for these therapies as they are in-solution upon administration and rapidly gel upon contact with mucosal tissue. The Company believes that the Sol-gels have the ability to provide for safer and more reliable drug delivery of agents, such as cannabidiols (“CBDs”), that are rapidly metabolized or that would benefit from direct nose-to-brain CNS (central nervous system) delivery.
PreveCeutical’s Chairman, CEO and President, Mr. Stephen Van Deventer commented, “We are pleased to have signed an NDA with this world-leading manufacturer that has set a standard for the drug delivery industry with their advanced quality products. Their recognition of the significance of safety regulations, such as tamper-proof drug delivery devices, are of the upmost importance to us. Although the Program is still in its preliminary stage, coordinating the evaluation of drug delivery devices in parallel with the Sol-gel Program demonstrates PreveCeutical’s commitment to bringing the Sol-gel nose-to-brain delivery system to market.”
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel Program; Nature Identical™peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury). PreveCeutical sells CELLB9®, an Immune System Booster. CELLB9®is an oral solution containing polarized and potentiated essential minerals extracted from a novel peptide obtained from Caribbean Blue Scorpion venom. This product is available on the Company’s website.
On Behalf of the Board of Directors
“Stephen Van Deventer”
Chairman, CEO & President
For further information, please contact:
Director of Corporate Communications & Investor Relations
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future including the Company’s anticipated business plans, and the prospect of its ability and success in executing its proposed plans. Often, but not always, forward-looking statements can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “schedules”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Such forward-looking statements include, among others, the ability of the Company to enter into an agreement for the supply of the drug-delivery devices from the Manufacturer and the success of the Company in utilizing the drug-delivery devices in the Program, the ability of Sol-gels to provide for safer and more reliable drug delivery of certain agents such as CBDs, matters related to the Company’s current and planned research and development programs, and matters related to the Company’s future business plans. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, commercialise therapeutic and diagnostic technologies, including the Sol-gel technology, execute its proposed business plans, pursue a business partnership with the Manufacturer and other strategic partners, complete its research programs as planned and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the biotechnology or pharmaceutical industry, may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company’s filings are available at www.sedar.com.
Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.