VANCOUVER, August 23, 2016, — Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), (“Veritas” or the “Company”), an emerging discovery and IP development company, has announced that Cannevert Therapeutics Ltd., the Company’s exclusive partner and high-level R&D arm, has been awarded a research grant through Mitacs Inc. for research and development work related to the discovery of new cannabis strains for specific disease conditions.
Mitacs is a national not-for-profit organization that has designed and delivered research and training programs for 15 years, with aims to support industrial and social innovation through partnership with provincial governments, federal government, academia, and industry. Cannevert Therapeutics President, Professor Michael Walker commented, “we are extremely pleased to have received the financial support of Mitacs and look forward to working with them. Collaborating with both industry and academic research partners is a key part of our strategy to discover new cannabis strains for specific disease conditions.” Dr. Walker further explained, “we believe that Mitacs’ grant is a vote of confidence by our informed colleagues suggesting that we are on the right path in our work with cannabis based treatments.”
Veritas’ CEO, Dr. Lui Francioisi stated, “this is a positive development for our investors as it directly funds Cannevert in a manner that is non-dilutive to Veritas shareholders.” This funding will be used to identify medical marijuana cultivars with novel therapeutic potential. Specifically the research will be done to evaluate the potential therapeutic efficacy of different cannabis cultivars using sophisticated animal models. Neuropsychological assays will be used for Cannabis cultivars that vary in their constituent cannabinoids. These assays will allow for studies on both clinical properties as well as on the potential adverse events. Cannevert’s industry partners will combine their expertise in neurochemistry with other results to help Cannevert to identify key cultivars for clinical testing in humans.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging discovery and IP development company, advancing the science behind medical cannabis. The company’s current R&D efforts are to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for real science to support medical marijuana claims.
Our unique value proposition employs a whole plant methodology, using a low cost research and development model to help drive shareholder value and speed-to-market. Veritas is led by strong management, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect its IP (cultivars/ strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
Veritas Pharma Inc. is a publicly traded company which trades in three countries including 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: veritaspharmainc.com
On behalf of the Board of Directors; Veritas Pharma Inc.
Dr. Lui Franciosi
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
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Veritas Pharma Inc.
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