Shares of PreveCeutical Medical Inc. are expected to begin trading on the Canadian Securities Exchange on July 14 under the symbol PREV. The company, named after its focus on preventative nutraceuticals, has a pipeline that includes a cannabidiol-infused soluble gel delivery system and a dual-gene therapy targeting obesity and diabetics.
In April, PreveCeutical formed a partnership with UniQuest Pty Limited at Queensland University in Australia. According to the company, UniQuest will conduct a research program "for the extraction, formulation and ex vivo evaluation of cannabinoids (CBDs) for local/direct nose-to-brain delivery via Sol-Gels. UniQuest is the main commercialisation company for The University of Queensland."
"Due to increasing evidence of the clinical benefits presented by CBDs, and recent legalisation of 'medical marijuana' across a number of jurisdictions, PMI is seeking development and evaluation of translatable formulations for central nervous system (CNS) delivery of CBDs, for which, soluble gels (sol-gels) present an ideal platform for achieving this aim, being in-solution upon administration, and rapidly gelling upon contact with mucosal tissue, paving the way for safer, reliable drug delivery for agents, such as CBDs that are rapidly metabolised, or that would benefit from direct nose-to-brain CNS delivery to provide clinical benefit," the company noted.
PreveCeutical CEO Stephen Van Deventer, in an interview with CFN Media Group, noted that "Through our research and development program with UniQuest, we are developing what we believe will be the first FDA approved, CBD-based nose to brain delivery system that will provide relief across a range of indications from pain, inflammation, seizures, and neurological disorders."
"We believe we will have our delivery platform fully tested, approved and ready for market deployment with licensed medical marijuana company partners in approximately 18 months," Van Deventer stated.
PreveCeutical is also working with UniQuest on a dual-gene therapy for obesity and diabetes. Van Deventer noted that "PreveCeutical's plan to address this disease involves a broader, longer term program of research and development with the aim of developing a 'curative' gene therapy approach. . .with this program we aim to target the root cause of this disease using siRNA therapeutics to identify the over-expression of that key gene implicated in both diabetes and obesity."
"With the assessment of safety and efficacy in appropriate preclinical models of diabetes, we could pave the way not only to cure this disease but perhaps, in the future, prevent it all together," Van Deventer noted.
"Our goal is to have at least 3 new drugs either on the market or filed for FDA approval approximately by 2021. Our criteria are that all our development projects have the potential to generate more than $1 billion in sales each year," concluded Van Deventer.
Editor's note: An earlier version of this article stated trading should begin June 12. It has been pushed back.
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