SAN DIEGO, CA, July 20, 2020 (GLOBE NEWSWIRE) -- Emerald Health Pharmaceuticals Inc. (EHP), a clinical-stage biotechnology company developing a new class of medicines to treat diseases with unmet medical needs, is now accepting investments under its Regulation A (“Reg A”) offering. As of June, EHP had raised more than $22 million under its Reg A offering.
EHP is currently offering shares of Common Stock at $6.00 per share to both accredited and non-accredited investors. The minimum investment is 500 shares, or $3,000. The Company’s Offering Circular, which was qualified by the SEC on July 14, 2020, can be viewed at www.investehp.com.
Since the initial Reg A qualification in 2018, the Company has made significant progress in its financing, clinical and corporate development efforts, including most notably the successful initiation of its Phase 2a study of EHP-101 for the treatment of systemic sclerosis.
“We are pleased with the success of our previous financing efforts and the ongoing support received from our shareholders,” said Jim DeMesa, MD, MBA, President & CEO of EHP. “Through the advancement of our science and product development, we have the potential to provide disease-modifying therapies for the treatment of our initial target diseases, multiple sclerosis, systemic sclerosis, Parkinson’s disease, and Huntington’s disease. With the funding we have received to date, and with continued investor support, we plan to further advance our research and clinical studies to successfully achieve our mission, along with the goal to increase shareholder value. We hope you’ll join us in our mission and become part of EHP today.”
Proceeds raised to date have been used primarily for preclinical and clinical development of EHP-101, EHP’s oral formulation of a novel synthetic cannabidiol (CBD) derivative that EHP is developing to treat systemic sclerosis and multiple sclerosis. The Company has also advanced preclinical work for EHP-102, its oral formulation of a novel synthetic cannabigerol (CBG) derivative being developed to treat Huntington’s disease and Parkinson’s disease.
Additional proceeds from this offering will be used primarily to complete EHP’s current Phase 2a clinical study of EHP-101 in systemic sclerosis, initiate preparations for EHP’s planned Phase 2 study for multiple sclerosis and continue preclinical development of EHP-102.
Investors are encouraged to read the Offering Circular and exhibits and consult with their tax, legal, or financial professional prior to investing.
Corporate Update
Key Initiatives and Accomplishments
EHP-101: systemic sclerosis (SSc) and multiple sclerosis (MS)
- Demonstrated and published the antifibrotic and anti-inflammatory effects, vascular protection, and vascular regeneration in systemic sclerosis preclinical models.
- Demonstrated and published the potential disease-modifying benefits relating to prevention of demyelination and stimulation of remyelination in four validated multiple sclerosis preclinical models.
- Successfully completed a large Phase 1 human clinical study in Australia to establish EHP-101’s safety, tolerability, and pharmacokinetics (PK) in healthy volunteers.
- Initiated a Phase 2a double-blind, randomized, intracohort placebo-controlled, multicenter study to evaluate the safety, tolerability, pharmacokinetics and preliminary efficacy of EHP-101 in up to 36 patients with diffuse cutaneous systemic sclerosis at approximately 30 study centers in Australia, New Zealand and the United States.
- Continued preparations to initiate a Phase 2 study in multiple sclerosis patients later in 2020.
EHP-102: Parkinson’s disease (PD) and Huntington’s disease (HD)
- Demonstrated and published the anti-inflammatory and neuroprotective activity and the potential to stop the damage to nerves that produce dopamine (the main issue in PD) in PD models.
- Demonstrated and published the potential to promote the regeneration of nerve cells and protect against neuroinflammation and neurodegeneration in HD models.
Regulatory Achievements
- EHP-101 received Orphan Drug Designation for SSc in both the US and EU.
- EHP-101 granted Fast Track Designation for SSc in the US (FDA).
- EHP-101’s active pharmaceutical ingredient, VCE-004.8, deemed not a controlled substance under the Controlled Substance Act (CSA) by the United States Drug Enforcement Administration (DEA).
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- Canada and United Kingdom also determined that EHP’s synthetic cannabidiol-derived molecule is not a controlled substance.
- EHP-102 granted Orphan Drug Designation for Huntington’s disease in the US and EU.
- Several patents granted: EHP has 25 molecules – now backed by 18 US and international patents, with 21 patents pending.
About Regulation A
In the United States under the Securities Act of 1933, any offer to sell securities must either be registered with the United States Securities and Exchange Commission (SEC) or meet certain qualifications to exempt it from such registration. Regulation A (or Reg A) contains rules providing exemptions from the registration requirements, allowing some companies to use public solicitations to offer and sell their securities without having to register the securities with the SEC. Regulation A offerings are intended to make access to capital possible for small and medium-sized companies and to allow non-accredited investors to participate in the offering. The regulation is found under Title 17 of the Code of Federal Regulations, chapter 2, part 230.
About Emerald Health Pharmaceuticals Inc.
Emerald Health Pharmaceuticals is developing product candidates derived from cannabinoids for the treatment of CNS, autoimmune, and other diseases. The Company has two families of patented new chemical entities, derived from synthetic cannabidiol (CBD) and cannabigerol (CBG), that it has modified through rational drug design to affect validated receptors and pathways pertinent to targeted diseases. Its first drug candidate, EHP-101, is entering Phase 2 clinical development for the treatment of systemic sclerosis, a severe form of scleroderma, and multiple sclerosis. Its second product candidate, EHP-102, is in preclinical development and is focused on treating Huntington’s disease and Parkinson’s disease.
EHP-101 has received Orphan designation in the US and EU for systemic sclerosis and EHP-102 has received Orphan designation in the US and EU for Huntington’s disease. For more information, visit http://www.emeraldpharma.life or contact info@emeraldpharma.life.
To the extent statements contained in this news release are not descriptions of historical facts regarding Emerald Health Pharmaceuticals Inc. they should be considered "forward-looking statements," as described in the private securities litigation reform act of 1995, that reflect management's current beliefs and expectations. You can identify forward-looking statements by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "hope," "hypothesis," "intend," "may," "plan," "potential," "predict," "project," "should," "strategy," "will," "would," or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes. Forward-looking statements contained in this news release include, but are not limited to, statements regarding: (i) the success and timing of our product development activities and clinical trials; (ii) our ability to develop our product candidates; (iii) our plans to research, discover, evaluate and develop additional potential product, technology and business candidates and opportunities; (iv) the anticipated timing of clinical data availability; (v) our ability to meet our milestones; and (vi) our expectations regarding our ability to obtain and maintain intellectual property protection. Forward-looking statements are subject to known and unknown factors, risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Undue reliance should not be placed on forward-looking statements. We undertake no obligation to update any forward-looking statements. Emerald Health Pharmaceuticals' investigational drug products have not been approved or cleared by the FDA.