VANCOUVER, British Columbia, Sept. 30, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with Agrima Botanicals Corp (“Agrima”) where both companies will share the intellectual property (“IP”) jointly developed as part of a proposed agreement that outlines a medical cannabis research collaboration.
Under the terms of the MOU, both companies wish to collaborate in a structured, scientific manner with respect to formally identifying and cooperating on the advancement of medical cannabis strains or cultivars as well as to jointly develop, commercialize and patent protect medicinal products to treat specific diseases and chronic conditions.
Veritas’ CEO, Dr. Lui Franciosi stated, “With Agrima’s superior breeding and cultivating practices, our scientists at Cannevert Therapeutics Ltd. (“CTL”) will be able to further research for both companies by infusing CTL’s pharmacological knowledge and practices in discovering and developing proprietary products that have consistent and optimal clinical effects. This will be a great partnership for the science and business of medical cannabis”.
The definitive agreement is expected to be finalized by the end of this year.
About Agrima Botanicals Corp.
Agrima Botanicals is a patient focused company that strives to provide consistent, quality medical cannabis products and related services. The company has an industry leading facility, the design and specifications of which have attracted the attention of top ranking Canadian universities. It continues to set the standard by hosting other BC municipalities to aid them in the development of their local medical cannabis by-laws. Agrima shares a strong passion for growing. Its lead production staff, with over 30 years of combined experience, are at the forefront of the industry. Through the continuous examination and refinement of their methods, it aims to advance the science of producing consistent, quality medical cannabis. For more information about Agrima, please visit: www.agrima.ca
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging pharmaceutical and IP development company, who, through its 100% owned subsidiary Cannevert Therapeutics Ltd. (“CTL“), is advancing the science behind medical cannabis. It is the Company’s aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for clinical data to support medical marijuana claims. CTL’s unique value proposition uses a low-cost research and development model to help drive shareholder value, and speed-to-market. Veritas’ investment in CTL is led by a strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion-dollar markets according to Deloitte’s Insights and Opportunities.
Veritas Pharma Inc. is a publicly traded company in Canada, on the Canadian Stock Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.
For more information, please visit our website: www.veritaspharmainc.com
On behalf of the Board of Directors
"Dr. Lui Franciosi"
Dr. Lui Franciosi
President and Chief Executive Officer
Further information about the Company is available on our website at www.veritaspharmainc.com or under our profile on SEDAR at www.sedar.com and on the CSE website at www.thecse.com.
Investor and Public Relations Contact
Veritas Pharma Inc.
Sam Eskandari
Telephone: +1.416.918.6785
Email: ir@veritaspharmainc.com
Website: www.veritaspharmainc.com
The CSE has not reviewed, nor approved or disapproved the content of this press release.