VANCOUVER, British Columbia, July 26, 2021 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABD), (Frankfurt: LD6, WKN: A3CSSU) (the “Company”) is pleased to announce that its wholly owned subsidiary Akome Biotech Ltd. (“Akome”) has commenced the development of another breakthrough psychedelic drug formulation, and confirms the filing of another provisional patent application with the United States Patent and Trademark Office (USPTO) under application number 63147338, for the protection of its intellectual property designed to address Parkinson’s Disease, also known as AKO004.
Akome’s AKO004 psychedelic drug formulation, for use in the treatment of Parkinson’s disease, is a composition comprising the psychedelic compound N,N-dimethyltryptamine (DMT) and, a specifically chosen, naturally occurring plant bioactive. Initial data analysis indicates that the AKO004 composition is safe and efficacious for use, and presents many positive properties which may counter or mitigate neurodegeneration including, anti-oxidant activity (through downregulation of adhesion molecules), oxidative stress suppression (through direct free radical scavenging), and upregulation of intracellular antioxidant defenses (e.g. enhancing glutathione levels). Additionally, initial data mapping also suggests that the compound may play a neuroprotective role in the brain, generally.
Parkinson’s disease is a progressive neurodegenerative disorder that is caused by degeneration of the nerve cells in the part of the brain called the substantia nigra, which controls movement. Neurodegeneration occurs when nerve cells in the brain or peripheral nervous system lose function over time and ultimately die. 1It is estimated that over 10 million people worldwide are living with Parkinson’s disease. Within the United States it is further estimated that over 930,000 people live with Parkinson’s disease and approximately 60,000 more are diagnosed each year. An even more staggering statistic is that this number is predicted to rise to 1.2 million by 2030.
Although treatments may help relieve some of the physical or mental symptoms associated with neurodegenerative diseases, there is currently no way to slow disease progression and no known cures.
“Cellular reprogramming has been very progressive over the last decade. Akome’s AKO0004 drug formulation presents strong indication as a viable candidate for the treatment of Parkinson’s disease,” stated Joel Shacker CEO of the Company.
About Core One Labs Inc.
Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.
ON BEHALF OF THE BOARD OF DIRECTORS OF CORE ONE LABS INC.
Chief Executive Officer
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Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.