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.
This news release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “become”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Such forward-looking statements include, but are not limited to, that the Company will experience growth and will be able to expand globally. We are also subject to various additional risks as described in our SEC filings at www.SEC.gov.
Forward-looking statements are based on management’s current expectations and may materially differ from actual results. Further, such forward-looking statements are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price.
We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Source: Allied Corp.
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