HOUSTON, June 05, 2024 (GLOBE NEWSWIRE) -- Vita Biotech Research has entered into a significant partnership with Cannabis Bioscience International Holdings (OTCMKTS: CBIH), to fund the clinical data collection efforts of CBIH’s rigorous data clinical studies, underscoring Vita Biotech's commitment to supporting cutting-edge research and ensuring the highest standards of clinical data integrity.
Through this strategic alliance, Vita Biotech will act as a financial subsidiary and catalyst for CBIH's data collection trials, a vital phase in evaluating the efficacy and safety of its formulations before they reach the market. This accelerated funding is expected to speed up CBIH's progress toward its scientific and commercial goals.
Furthermore, this collaboration allows CBIH to chart a course of its reconstruction process as it facilitates to isolate each medical formulation into a unique legal entity. This risk management strategy aligns with industry practices aimed at simplifying financing and partnerships, streamlining intellectual property and licensing processes.
The choice of Texas as the jurisdiction for patent housing is driven by its business-friendly environment, including favorable judicial precedents, cost-effective litigation, and access to federal courts adept in handling complex cases. Therefore, this calculated maneuver would place CBIH in a strong defensive posture in the event of legal challenges, and it is foreseen to lessen potential legal liabilities of the parent corporation.
The decision to proceed with this collaboration followed medical legal standards to mitigate any potential medical conflicts arising from the studies, upholding ethical standards to maintain credibility and executing CBIH’s protocols effectively, which could lead to improved statistical significance.
“The nature of clinical trials and data collection necessitates a cooperative endeavor between different entities, each bringing unique advantages to the table, without compromising the integrity and safety of data management during the trials. This way we take a significant leap forward in both organizations' missions and the enhancement of patient care,” says Dr. Jennifer Salguero, PhD in Science specialized in Microbiology from São Paulo Brazil University, and VITA’s Director of Clinical Trial Operations.
Overall, this partnership offers a platform for funding CBIH’s projects, safeguards both parties from risks related to intellectual property and litigation, and ensures the meticulous and ethical collection of data. CBIH and Vita Biotech look forward to potentially bolster the credibility of our research among leading pharmaceutical companies, paving the way as pioneers in medical cannabis clinical research.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCmarkets.com.
For more information contact us at:
(214) 733-0868
ir@cbih.net
Dante Picazo
CEO - CBIH
Website: www.cbih.net
X: www.twitter.com/cbihstock
Instagram: www.instagram.com/CBIHSTOCK
Investor Relations:
East Coast
Peter Nicosia
Bull in Advantage, LLC
Phone: 585-703-6565
Email: Info@BlueHorseshoeStocks.com
West Coast
Zach Logan
Pacific Capital Markets LLC
Phone: 858.864.0011
Email: pacificcapitalmarketsllc@gmail.com
