KELOWNA, British Columbia, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Allied Corp. ("Allied") (OTCQB: ALID), an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions, is pleased to announce it has entered into a Master Services Agreement with the University of Haifa, Israel via their wholly owned commercialization subsidiary: Carmel - Haifa University Economic Corporation Ltd. (“Haifa”). This world-class academic research center gives Allied access to a proprietary pre-clinical animal model that is owned by Carmel. Specifically, Allied will engage with this proprietary animal model for the purposes of specialized pharmaceutical cannabinoid research and pharmaceutical product development.
Through this agreement, Allied now has access to Haifa’s leading-edge facilities, proprietary animal model, pharmaceutical development, academic laboratory and associated scientists and investigators. This will enable Allied to conduct the pre-clinical phase of the development of a proprietary pharmaceutical product for which Allied has patent-pending status. This pharmaceutical product (“AC001”) targets the treatment of Post-Traumatic Stress Disorder and related mental health conditions. Following the completion of the pre-clinical research phase, Allied intends to bring AC001 through human clinical trials. Following this, Allied intends to then seek a global commercialization relationship through a licensing deal for product AC001 with a big pharma global commercialization partner.
“Building upon Allied’s current patent-pending position, and as part of Allied’s Intellectual Property and Pharma Development (IP&PD) Strategy, we are excited to begin pre-clinical testing of our novel formulations. This is outlined in the parameters of our recent United States Provisional Patent Application for Cannabinoid and Terpenoid Pharmaceutical Compositions and Methods for Treating Post-Traumatic Stress Disorder (PTSD)” says David Weinkauf, VP-Pharma Development for Allied Corp. “This is the first important step towards Allied bringing an academically validated pharmaceutical product to those who need it most; those people around the globe who have given of themselves to serve their country and are now suffering with PTSD”.
Additional information about Allied Corp. can be found at www.allied.health.
On behalf of the Board,
Chief Executive Officer
About Carmel - Haifa University Economic Corporation Ltd.
Carmel-Haifa University Economic Corporation Ltd. serves as the commercialization and business arm of the University of Haifa and is responsible for protecting and commercializing its intellectual property. Carmel-Haifa collaborates with various partners and establishes ventures, companies and funds with the goal of maximizing the business potential of commercializing research and knowledge developed at the University.
Additional information about Carmel - Haifa can be found at http://carmel-ltd.haifa.ac.il
About Allied Corp.
Allied Corp. is an international cannabis company with a mission to help people suffering from Post-Traumatic Stress Disorder (PTSD) by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.
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