VANCOUVER, British Columbia, Jan. 30, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”) (CSE:PREV) (OTCQB:PRVCF) (FSE:18H), announces that, further to its news release dated August 8, 2017, it has entered into a research and option agreement (the “Research Agreement”), with the University of Queensland (“UQ”) and UniQuest Pty Limited (“UniQuest”), UQ’s main commercialisation company. Pursuant to the Research Agreement, the parties intend to conduct a research program (the “Research Program”) which expands the use of their disulfide linker technology and seeks to develop non-addictive analgesics for the treatment of pain, which may offer an alternative to addictive opioids. The opioid epidemic has led to significant numbers of opioid-related deaths and addictions, taxing public health care systems and affecting social and economic welfare.
The multiphase Research Program will involve peptide library synthesis pharmacological evaluation, and acute pharmacokinetic assessment and efficacy determinations in appropriate models of pain and inflammation.
The Research Program
The Research Program has a targeted start date of March 1, 2018, and will be led by UQ researcher and PreveCeutical’s Chief Research Officer, Dr. Harendra Parekh, in collaboration with the UQ School of Pharmacy’s pain and inflammation pharmacology expert, Associate Professor Peter Cabot.
Pursuant to the Research Agreement, PreveCeutical will own all intellectual property developed under the Research Program and will be granted an option to negotiate an exclusive, worldwide licence to UniQuest’s background intellectual property. As consideration for the licence, the Company will pay UniQuest sales-based royalties and certain amounts upon the achievement of predetermined development milestones.
About PreveCeutical Medical Inc.
PreveCeutical Medical Inc. is a health sciences company that develops innovative preventive 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; a Sol-gel platform for nose to brain delivery of medical compounds including cannabinoids; Nature Identical™ peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to 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.
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 commercialisation of intellectual property, research outcomes and expertise developed by UQ and is the principal commercialisation company of UQ. UniQuest benchmarks in the top ten percent globally for university-based technology transfers and UQ innovations licensed by UniQuest generate annual sales of over AUD $3 billion. For example, UQ superconductor technology is used in two-thirds of the world’s MRIs and more than 80 million doses of the 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
For further information, please contact:
Deanna Kress
Director of Corporate Communications & Investor Relations
+1-778-999-6063
deanna@PreveCeutical.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Forward-Looking Statements:
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 expectations regarding the future, including, the ability of the Company to complete the Research Project as anticipated and the timing of the Company’s future business 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. 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 ability of the Company to, among other things, obtain any required governmental approvals, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, complete the Research Program or any of 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. 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 Canadian continuous disclosure filings are available at www.sedar.com.
Readers are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. 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 the forward-looking statements.