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Vancouver, British Columbia--(Newsfile Corp. - November 29, 2021) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), is pleased to announce it has filed an international patent application on November 19, 2021, entitled "Sol-Gel Cannabinoid Formulation and Antiviral Use" (the "Invention"), claiming priority from Australian patent application number 2020904291.
The patent is for an invention that relates to an antiviral cannabinoid-containing sol-gel formulation and its use in the treatment or prevention of viruses such as Coronaviruses and influenza. In particular embodiments, the cannabinoid containing sol-gel formulation is adapted for nasal delivery and comprises a micellar composition with a cannabinoid composition, where the cannabinoid composition comprises cannabidiol ("CBD").
This application names Stephen Van Deventer as the inventor for all designated states and regions. Mr. Van Deventer has assigned the entire interest in the Invention to PreveCeutical.
COVID-19 is responsible for a pandemic that has spread to more than 210 countries, with more than 37 million people infected, and over a million deaths have been recorded since the pandemic was first declared. No pharmacological agent is available yet to bring the virus 100% under control and to curb its devastating effects. Various anti-viral and anti-inflammatory drugs have been trialled with varying degrees of success, and it has been reported that CBD may have an effect in treating or preventing COVID-19 and symptoms associated with COVID-19.
PreveCeutical's Chief Executive Officer, Mr. Stephen Van Deventer, commented, "There is a need for therapies for Coronaviruses and influenza that are readily delivered to the respiratory system. Our plan is to have products from this Invention delivered through nasal delivery, aiming to make it more patient and practitioner friendly."
The Company is not making any express or implied claims that its product candidate has the ability to eliminate, cure or contain Coronaviruses, COVID-19, and influenza, at this time.
Although PreveCeutical believes that any such intentions, plans, estimates, beliefs, and expectations in this news release are reasonable, there can be no assurance that any such intentions, plans, beliefs, and expectations will prove to be accurate or successful.
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products. The Company aims to be a leader in the preventive health sciences sector.
With the completion of three of its research programs, the Company is actively working on the development, clinical trials, and commercialization of its products; and has filed a number of provisional patent applications to protect the intellectual property from its research programs.
On behalf of the Board of Directors of PreveCeutical
Stephen Van Deventer, Chairman and Chief Executive Officer
For further information, please contact:
Stephen Van Deventer: +1 604 306 9669
Or Investor Relations firstname.lastname@example.org
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future, including, without limitation, matters related to the Company's current and planned research and development programs, including the Analgesic Program, the Company's anticipated business plans and its prospect of success in executing its proposed plans. Often, but not always, forward-looking statements can be identified by words such as "will", "plans", "expects", "may", "intends", "anticipates", "believes", "proposes" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions regarding the Company, including expected growth, results of operations, including the Company's research and development activities, performance, industry trends, growth opportunities, and that the Company will be able to obtain the financing required to carry out its planned future activities, retain and attract qualified research personnel and obtain and/or maintain the necessary intellectual property rights it needs to carry out its future business activities.
Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the Analgesic Program, complexities and delays in connection with research and development activities and the actual results of research and development activities, and the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, commercialize therapeutic and diagnostic technologies, execute its proposed business plans, pursue business partnerships, complete its research and product development programs as planned, including the Analgesic Program, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the healthcare and cannabis industries in Canada may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, intentions, and assumptions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, intentions or assumptions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time to time. These reports and the Company's filings are available at www.sedar.com.
Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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