VANCOUVER, British Columbia, Aug. 16, 2016 (GLOBE NEWSWIRE) -- PreveCeutical Medical Inc. ("PreveCeutical," or the "Company"), a health and wellness company focused on utilizing nature and science for the benefit of health conscious consumers, announces the appointment of Dr. Makarand Jawadekar as Chief Science Officer. Also, the Company announces its first development program for nature identical peptide, similar to the active found in Caribbean Blue Scorpion Venom.
Dr. Makarand Jawadekar worked with Pfizer Inc. at their Groton-New London R & D HQ operations in Connecticut for 28 consecutive years, more recently as a Director of Portfolio Management. At Pfizer, he was responsible for the Drug Delivery Technology Assessment function involving external ‘Drug Delivery’ technologies. He has extensive experience creating and cultivating external partnerships and alliances for drug delivery technologies. He began his professional career at Pfizer Central Research in early 1982, following completion of his Ph.D. in Pharmaceutics at the University of Minnesota.
Dr. Jawadekar will be responsible for leading the Company’s third go-to-market pillar, initiating an accelerated pre-clinical evaluation program for nature identical synthetic peptide similar to the active found in Caribbean Blue Scorpion Venom. Following an extensive literature review, there exists detailed non-clinical evidence related to Caribbean Blue Scorpion Venom’s potential ability to improve or restore a patient’s immune system function. Based on the outcome of this review, it has been recommended that PreveCeutical commence further pre-clinical evaluation.
Under Dr. Jawadekar’s direction, the Company is targeting a 36-month pre-clinical research program to move our current understanding of the nature identical peptide which is found in Caribbean Blue Scorpion Venom to a goal of an IND submission with the U.S. FDA.
“Our lead go-to-market product is CELLB9TM, based on Caribbean Blue Scorpion Venom, and we’ve always believed in the self-reported benefits it’s provided to customers over an extended period. For the first time, we have an opportunity to undertake a pre-clinical evaluation program, led by Dr. Jawadekar, that’s in-line with U.S. FDA guidelines for a Pre-Clinical Drug Development Program,” said Stephen Van Deventer, Chairman and CEO at PreveCeutical. “Dr. Jawadekar is a highly respected researcher and well regarded in the drug development community. His history with Pfizer and experience developing partnerships with research labs around the world should accelerate our timeline immensely, and has the potential to unlock significant value and IP embedded in nature identical peptide, similar to the one found in Caribbean Blue Scorpion Venom.”
About PreveCeutical
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On Behalf of the Board,
"Stephen Van Deventer"
Chairman & CEO
This news release may contain forward-looking statements, including without limitation, future operations of PreveCeutical Medical Inc. (the "Company"). Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “will”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. In particular, there is no guarantee that the Blue Scorpion Venom will effectively treat or cure cancer or other diseases, the length of the pre-clinical evaluation or that the pre-clinical evaluation will result in the Company submitting an IND with the U.S FDA in a timely fashion following such trials or at all. Accordingly actual results may differ materially from those currently anticipated in such statements.
The Company has made numerous assumptions regarding, among other things: the effectiveness of its products; the demand for its products and the stability of economic and market conditions. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that the Company may lose or abandon or may fail to receive necessary licenses and permits; labour disputes; the Company may not receive the necessary regulatory approvals for its products; the increase in cost estimates and the potential for unexpected costs and expenses; general economic and market conditions may worsen; market shifts may require a change in strategic focus; the Company may not be able to raise additional funds when necessary; litigation; and competition. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, consumer sentiment towards the Company’s products, competition, the failure of counterparties to perform their contractual obligations, and fees charged by service providers.
All forward-looking statements concerning the Company's future plans and operations, including management's assessment of the Company's operational expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and financial results may differ materially from any estimates or projections. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate.