KELOWNA, British Columbia, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Allied Corp. ("Allied") (OTCQB: ALID), an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions, stated in it’s October 28th press release that it had entered into a Master Services Agreement with the University of Haifa, Israel via their wholly owned commercialization subsidiary: Carmel - Haifa University Economic Corporation Ltd. (“Carmel-Haifa”). In accordance, Allied has come to a final agreement on the terms for the Research Protocol and associated Pre-Clinical work which is to begin at Haifa University in the Laboratory of Dr. Irit Akarav.
As previously noted, this world-class academic research center gives Allied access to a proprietary pre-clinical animal model that is owned by Carmel-Haifa. This proprietary animal model will focus on specific pharmaceutical cannabinoid research and pharmaceutical product development.
Following approval by the Ministry of Health, Pre-Clinical Phase 1 work will begin. If positive indications are realized in Pre-Clinical Phase 1 it would be followed by Pre-Clinical Phase 2 and Pre-Clinical Phase 3 toward the Research Protocol’s objectives for PTSD indications, safety and efficacy.
Allied now has access to Carmel-Haifa’s leading-edge facilities, proprietary animal model, pharmaceutical development, academic laboratory and associated scientists and investigators, enabling Allied to conduct the pre-clinical phase of the development of a proprietary pharmaceutical product (“AC001”) for which Allied has filed a United States Provisional Patent Application.
This pharmaceutical product targets the treatment of Post-Traumatic Stress Disorder and related mental health conditions. Following the completion of the pre-clinical research phases, Allied intends to bring AC001 through to human clinical trials. After successful completion, Allied would then intend to seek global commercialization.
“We are excited to begin our pre-clinical work with the exceptional team of experienced researchers led by Dr. Irit Akarav at the University of Haifa, Israel,” says David Weinkauf, Chief Development Officer for Allied Corp. “As part of our Intellectual Property and Pharma Development (IP&PD) Strategy, this pre-clinical research allows us to advance the science behind our Provisional Patent Application for Cannabinoid and Terpenoid Pharmaceutical Compositions and Methods for Treating Post-Traumatic Stress Disorder (PTSD) and bring help to all those suffering from 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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