PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H), a health sciences company aiming to become a preventive health sciences leader, has announced the grant of three permits from the Australian government’s Department of Health allowing for the importation of cannabis into Australia for purposes of research. The permits, which have been granted to the Pharmacy Australia Centre of Excellence (PACE) at the University of Queensland, will allow PACE to import cannabis plant material shipments for research purposes. Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) (FSE: 21P) (WKN: A1C4WM) will export the cannabis to PACE and has obtained the necessary Canadian permits to do so. Once shipped by Aurora, the cannabis will be used in PreveCeutical’s drug delivery research program for its Sol-gel (soluble gel).
The Sol-gel drug delivery research program, which is being undertaken at the University of Queensland, targets the development of a system that will enhance the bioavailability of drugs using a nose-to-brain delivery system. The program is being conducted by PreveCeutical’s research partner, UniQuest Pty Inc., and is being led by PreveCeutical Chief Research Officer Dr. Harendra Parekh.
The intention of PreveCeutical is to apply its Sol-gel technology to cannabinoids for the development of therapies to relieve a variety of symptoms, including pain, inflammation, seizures and neurological disorders. The permits obtained by PACE will allow PreveCeutical to test various cannabis strains for the development and commercialization of cannabinoid-based Sol-gels. Sol-gels boast a variety of advantages over traditional liquid nasal sprays, offering longer therapeutic effects, lower dosage requirements and a reduction in irritation and other unwanted side effects.
In consideration of its cannabis shipment for the research program, Aurora Cannabis has been granted certain rights, including an option to either license (on a nonexclusive basis) the Sol-gel technology for Canada and Australia or to choose a royalty arrangement on product sales, along with an option to purchase PreveCeutical shares. Part of Aurora’s strategy in becoming involved with PreveCeutical’s initiatives is gaining access to cannabis-based products that are more narrowly targeted at specific therapeutic areas but with a higher value add.
For more information, visit the company’s website at www.PreveCeutical.com
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