Rich Pharmaceuticals to Launch CannCodex, marking its entry into Medicinal Cannabis Industry
BEVERLY HILLS, CA--(Marketwired - Mar 21, 2017) - Rich Pharmaceuticals, Inc. (OTC PINK: RCHA) ("Rich" or the "Company"
, a biopharmaceutical company focused on developing and commercializing innovative therapies in oncology, announced today that it has reached agreement with I Tech Health Corp. to form a subsidiary and launch CannCodex to serve the Medicinal Cannabis industry as well as provide data and services to pharmaceutical companies worldwide.
The strategic move was identified as Rich Pharmaceuticals' management has been approached by numerous players in the Cannabis Industry seeking assistance in formulating a strategy regarding FDA approval of MMJ products.
"A significant number of executives in the Cannabis industry believe that one path the government may take to regulating the industry nationally is to guide all producers into a regulatory framework like the FDA," stated Ben Chang, CEO Rich Pharmaceuticals. "We believe that building a database and providing related advisory services can help us bridge the period between now and when our drug pipeline starts to generate its own revenue stream," he continued.
Rich Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing innovative therapies in oncology. The company is in Phase 1/2 clinical trials for the treatment of Acute Myelocytic Leukemia (AML) and Myelodysplastic Syndrome (MDS).
The terms of the agreement with I Tech Health Corp., and a copy of the agreement, were disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 21, 2017, which may be found at www.sec.gov or on the Company's website at www.richpharmaceuticals.com/investor-relations/sec-filings/.
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