LONDON, UNITED KINGDOM--(Marketwired - Dec 8, 2016) - Plandaí Biotechnology, Inc. (OTCQB: PLPL) ("Plandaí" or "the Company"), producer of the highly bioavailable Phytofare® catechin complex, today announced the Parliamentary Portfolio Committee on Health in South Africa outlined a clear plan endorsing the need for greater availability of medicinal cannabis to those who suffer from chronic pain. This action may pave the way for parliament to pass the Medical Innovation Bill proposed by Dr. Mario Ambrosini in 2013. Plandaí submitted a letter in support of this bill and campaigned for its passage over the past three years. This recent shift in the Department of Health's position with respect to cannabis medical research may lead to the bill's passage in the near future. Apart from the well-known medical benefits of cannabis, such as reducing nausea, improving appetite, and reducing anxiety, previous third party research suggests that medical cannabis may be useful in the treatment of many chronic conditions such as Glaucoma, Parkinson's, epilepsy, seizures, dementia, Alzheimer's, arthritis, chronic pain and multiple sclerosis.
In April 2014, Plandaí applied for a research license under the South African Medicines and Related Substances Act No. 101 of 1965 to undertake defined cannabis-related medicinal research; however, the South African Government took no action on this request and the Company halted its development efforts. Due to the Department of Health's revised position and support of the Ambrosini bill, Plandaí's South Africa legal representatives sent a letter on December 5, 2016 to the South African Director-General of Health, requesting clarification on the Department of Health's position on granting research licenses in light of the Dept. of Health's endorsement. Should the Dept. of Health decide to grant research licenses, Plandaí may then move forward with plans to validate and clinically develop its Phytofare® extract in South Africa in conjunction with North West University's Drug Development Platform.
The Company's 2014 Cannabis initiative was focused on the possible development of a cannabis extract utilizing its Phytofare® technology with the objective to design a non-psychoactive, full profile Cannabis complex of all 113 known cannabinoids. The Company's unique extraction process should prohibit the metabolizing of non-psychoactive acid-form cannabinoids (THC-A and THCB), resulting in an extract that could deliver all the potential medical benefits from a full cannabinoid complex without being psychoactive.
Roger Baylis-Duffield, Chairman and Chief Executive Officer of Plandaí Biotechnology, stated, "We are pleased to see this change in the department's stance on medical cannabis and are looking forward to producing and testing our Phytofare® cannabinoid complex in the near future in South Africa. It gives us pleasure in knowing that Dr. Ambrosini's bill is close to being passed even after his death and we hope to continue in his memory with research for which he was so passionate."
About Plandaí Biotechnology, Inc.
Plandaí Biotechnology, Inc. and its subsidiaries develop highly bioavailable extracts. It controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its proprietary Phytofare® extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include cosmeceutical, wellness, anti-aging, pharmaceutical and animal husbandry.
For more information, please visit http://www.plandaibiotech.com.
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