IRVINE, CA, May 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Cannabis Science, Inc. (CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, has entered into a new Research Collaboration Agreement with Dana-Farber Cancer Institute, Inc. to investigate the potential use of a proprietary extract from the Justicia plant to treat a number of blood disorders.
There are a number of products that have been initially identified for development based on current research on the proprietary extract from the Justicia plant. These potential products could include a nutraceutical for blood health, a biomaterial that could serve as a blood substitute, and an ingredient to be used in the production of meat substitutes.
CBIS 8-K filing on the matter:
“On November 15, 2018, Cannabis Science, Inc. (the “Company”) entered into a Research Collaboration Agreement (the “RCA”) with Dana-Farber Cancer Institute, Inc. The effective date of the RCA is October 19, 2018, and the agreement term is for twelve (12) months. In consideration for this RCA and for performance of the agreed-upon research, the Company will pay Dana-Farber $200,000.
“The purpose of this new RCA between the Company and Dana-Farber is to investigate a proprietary extract from the Justicia plant to potentially treat a number of blood disorders, and for other potential uses. Justicia is the largest genus of flowering plants in the family Acanthaceae. Some Justicia species are cultivated for their ornamental value, while extracts of some species of Justicia are disclosed as being used for treating various indications.
“The Company has initially identified a number of potential products for development based on current research on the proprietary extract from the Justicia plant. These potential products could include a nutraceutical for blood health, a biomaterial that could serve as a blood substitute, and an ingredient to be used in the production of meat substitutes.”
“We signed our first agreement with Dana-Farber in January 2017, and we signed a new 5-year, $1.8 million research agreement with Dana-Farber in January 2018. Our initial work with Dana-Farber is investigating the effect of cannabinoids with and without radiotherapy on lung and pancreatic cancers. This new initiative, investigating this proprietary Justicia extract, has the potential to help millions of people around the world with another profound phyto discovery. This collaboration was initiated with and championed by our former Chief Medical Officer, Dr. Allen Herman, who died late last year. We will push forward in Allen’s memory,” confirmed Raymond C. Dabney, President and CEO of Cannabis Science Inc.
About Cannabis Science, Inc.
Cannabis Science, Inc. takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on cancers, HIV/AIDS, and neurological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc., does not undertake any duty nor does it intend to update the results of these forward-looking statements. Safe Harbor Statement. The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward looking statements. Certain of the statements contained herein, which are not historical facts are forward looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Cannabis Science, Inc.
Mr. Raymond C. Dabney
President & CEO, Co-Founder