PreveCeutical Provides Corporate Update Vancouver, British Columbia--(Newsfile Corp. - May 31, 2021) - PreveCeutical Medical Inc. (the "Company" or "PreveCeutical") (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) is pleased to provide the following update.
The Company's highest priority is to create shareholder value through the development and commercialization of products and delivery technology.
The Company has partnered with UniQuest Pty Limited and the University of Queensland through its Australian subsidiary, PreveCeutical (Australia) Pty Ltd, to conduct research and development. The Company is very pleased with the positive outcome from the successful completion of the following programs:
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Stabilization of Blue Scorpion Venom was completed in October 2019.
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Sol-gels for Nasal Delivery of Cannabinoids was completed in June 2020.
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COVID-19 Sol-Gel Formulation Development was completed in November 2020. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain COVID-19 at this time.
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Disulfide Linker Technology in Engineering Analgesic Peptides completed in February 2021.
The Company is creating a library of patentable intellectual property and forming partnerships to develop and commercialize patentable delivery of therapies and products. The Company has filed the following provisional patent applications at the Australian Patent Office:
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2020-07-01, application number 2020902233, "Peptides and Uses Thereof", aiming to seek protection for certain peptides analogues of dynorphin and their use in pain management.
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2020-08-31, application number 2020903102, "Cannabinoid Formulations and Methods of Use", to seek the protection of its sol-gel formulations containing cannabinoids for nasal delivery
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2020-11-20, application number 20200904291, "Sol-Gel Cannabinoid Formulation and Antiviral Use", aiming to seek protection for certain cannabinoid formulations and their use in the prevention and treatment of COVID-19 caused by SARS-CoV-2 infection.
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2020-12-22, application number 2020904798, "Cyclic Peptides and Uses Thereof", aiming to seek the protection for certain cyclic peptides and their use in the prevention and treatment of brain cancer.
To achieve its goals, the Company has appointed the following three advisors who, with their relationships and knowledge, will be guiding the Company through the development and commercialization phase:
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Dr. Ajit Shetty, past chair of Janssen Pharmaceutical, with background and experience in leading commercial and supply chain operations. His connection with the pharmaceutical industry continues to be of great benefit to the Company.
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Dr. Linnea Olofsson has extensive knowledge in areas of medicine, including oncology, immunology, molecular biology and structure-based drug design. She continues to work with the Company in implementing commercialization strategies.
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Aditya Bahl, CEO and founder of RAS LSS, providing strategic guidance to biotechnology and pharmaceutical companies on clinical development and commercialization. He was a Director of Competitive Intelligence at Novartis Pharma AG. He continues to provide the Company with commercialization strategies and guidance.
The Company is working with its team on the next step and resource requirements. The next steps will include retaining of required staff to take the Company through the commercialization phase, including conducting required clinical trials and getting regulatory approvals.
Mr. Stephen Van Deventer, the Company's Chief Executive Officer, is very pleased with the Company's progress and said, "This is a very exciting phase for the Company as it moves to the commercialization phase with the next steps being marketing and sales. I am very grateful to the shareholders for their confidence in our Company".
About PreveCeutical
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 its products' clinical development, and commercialization. It has filed a number of provisional patent applications to protect the intellectual property from its research programs.
For more information about PreveCeutical, please visit our website www.PreveCeutical.com or follow us on Twitter and Facebook.
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 ir@preveceutical.com