Emerald Health Therapeutics Inc TBQBF

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GLOBENEWSWIRE

Emerald Health Therapeutics Enters Research Agreement with VivaCell Biotechnologies to Evaluate Proprietary Cannabis Products

 

10/03/2018 7:00:00 PD

 

VICTORIA, British Columbia, Oct. 03, 2018 (GLOBE NEWSWIRE) --  Emerald Health Therapeutics, Inc. (TSXV:EMH; OTCQX:EMHTF) (“Emerald”) has entered into a research agreement with VivaCell Biotechnologies Spain S.L.U. (“VivaCell”). VivaCell is an institute focused on cannabis research, which will provide its cannabis-industry-leading contract research organization (CRO) services to Emerald to elucidate the mechanism of action of proprietary formulations and dosage forms that Emerald is developing. This collaboration has the potential to strengthen Emerald’s intellectual property portfolio and assist in establishing Emerald as a leader in the development of proprietary cannabis products for medical-use and improved adult-use products with more precise and consistent delivery, dosage, and formulations.

“There are a rare few organizations that focus their understanding of the cannabis plant at the heart of its scientific development and strategic operations. We’re fortunate to have VivaCell as part of the Emerald Health group of companies and look forward to working on this project,” said Chris Wagner, CEO of Emerald. “With 17 patents filed to date, we are advancing our product development process. The data from this work will aid us in this process. Our goal is to expand our product pipeline with innovative products substantiated by scientific data and protected by our intellectual property.”

VivaCell was founded in 2003 as a spin-off of the AINP and Cannabis EU projects by a group of internationally renowned researchers. VivaCell’s in-house research and development capabilities are complemented through its partnerships with top academic research centers at the University of Crdoba, Complutense University of Madrid, Instituto Cajal in Madrid, andUniversity of Piemonte Orientale (Italy). This model allows VivaCell to utilize a wide breadth of expertise in biomedicine, pharmacology and chemistry to optimize their contract research offerings to support the product development of their clients.

“Emerald’s focus on scientific innovation has the potential to produce a future product pipeline of next-wave cannabis products that fit the needs and preferences of both adult-use consumers and patients,” said Mari-Luz Bellido, Managing Director of VivaCell. “We believe that cannabis has the potential to be developed into consistent, high-value downstream products. We are pleased to support the development of Emerald’s intellectual property by employing our deep cannabis research experience and conduct rigorous preclinical studies. ”

VivaCell is a wholly-owned subsidiary of Emerald Health Sciences, which also owns approximately 32% of the issued and outstanding shares of Emerald Health Therapeutics, Inc. Accordingly, both VivaCell and EHS are related parties of the Company for purposes of National Instrument 61-01: Protection of Minority Security Holders in Special Transactions. The transaction is exempt from the valuation and minority approval requirements of NI 61-101 pursuant to the exemptions in Sections 5.5(b) and 5.7(1)(a) of NI 61-101.