VANCOUVER, British Columbia, Aug. 08, 2017 (GLOBE NEWSWIRE) -- PreveCeutical Medical Inc. (the “ Company ” or “ PreveCeutical ”) (CSE:PREV) (FSE:18H) announces that on August 7, 2017, the Company signed a non-binding letter of intent (“ LOI ”) with UniQuest Pty Limited (“ UniQuest ”) which describes the essential terms and conditions of a proposed research collaboration between PreveCeutical and The University of Queensland.
The LOI is related to a Research and Development (“ R&D ”) program involving peptide library synthesis, pharmacological evaluation, alongside pharmacokinetic assessment and efficacy determinations in appropriate animal models of pain and inflammation, and may encompass either party’s intellectual property and product line and other pharmaceutical offerings that may fall within the peptide R&D program.
Peptides are currently being used to target an array of disease indications including metabolic disorders, pain, cancers, cardiovascular and infectious diseases. The therapeutic peptide market is expected to undergo an expansion in the foreseeable future.
In this regard, a team led by Dr. Harendra (Harry) Parekh in-conjunction with fellow collaborators at The University of Queensland (“UQ”) propose to expand the use of their disulfide linker technology to develop non-addictive analgesics for moderate-to-severe pain.
PreveCeutical and UniQuest are currently negotiating and preparing the definitive agreement regarding the collaboration.
PreveCeutical’s Chairman and CEO, Mr. Stephen Van Deventer commented, “We are very pleased to be partnered with UniQuest and the University of Queensland on this innovative research program. The development of non-addictive analgesics is very complementary to our focus on utilising nature and science for the benefit of health-conscious consumers. We look forward to moving this project forward into the next phases of development.”
“The proposed R&D program will serve to expand and expedite development of promising lead peptide candidates and facilitate the engagement of highly experienced collaborators to demonstrate proof-of-concept through pharmacological, pharmacokinetic and in vivo evaluation in appropriate models of pain and inflammation,” commented Dr. Parekh, UQ researcher and Chief Research Officer at PreveCeutical Medical Inc.
About PreveCeutical Medical Inc.
PreveCeutical Medical Inc. is a biomedical company that coined the platform for preventive health sciences. PreveCeutical’s innovative research and development department advances organic and Nature Identical products for both prevention and curative therapies.
The Company currently has one product available for sale, the CELLB9® 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. The active potentiated ingredients in the Blue Scorpion venom appear to support health at a deep cellular level, having been used for many years and in over 40 countries. The solution is colourless and odourless and can be administered orally.
For more information about PreveCeutical, please visit www.PreveCeutical.com , follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical .
About UniQuest Pty Limited
UniQuest specializes in the commercialization of intellectual property, research outcomes and expertise developed by UQ and is the principal commercialization company of UQ. UniQuest benchmarks in the top ten percent globally for university-based technology transfers and UQ innovations licensed by UniQuest are now generating annual sales of over AUD $3 billion. For example, UQ superconductor technology, through licensing arrangements, is used in two-thirds of the world’s MRIs and more than 80 million doses of the life-saving Gardasil® cervical cancer vaccine, patented by UniQuest in 1991, have been distributed throughout 121 countries, including 72 developing countries.
On Behalf of the Board of Directors
“Stephen Van Deventer” Chairman & CEO
Forward Looking Statements:
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws. 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. 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. 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, statements as to the proposed first phase of the Company's venom re-engineering project, business plans of the Company regarding the foregoing, the timing of future activities and the prospects of their success for the Company, and the Company’s ability and success in executing its proposed business plans, including a successful IND application. 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, complete the proposed research project as planned or the inability of the Company to obtain any required governmental approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, or 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, including the completion of the proposed research programs. There is no guarantee that the research programs will be successful or that their results can be commercialised by 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 .
For further information, please contact: Deanna Kress Director of Corporate Communications & Investor Relations +1-778-999-6063 deanna@PreveCeutical.com
