Initial Focus Will Be Research to Support Patent Applications and Pre-Clinical Trials for Prana Bio Medicinal Product Line
DENVER, CO / ACCESSWIRE / February 25, 2015 / United Cannabis Corporation (OTC: CNAB) (the “Company” or “United Cannabis”) today announced that it has entered into a Business Partnership with Cannabinoid Research & Development (“CRD”) and Jamaica’s Scientific Research Council, to establish a branded genetic database and conduct product analysis and preclinical studies of its entire Prana Bio Medicinal product line. The Partnership will collaborate with the University Of The West Indies, Mona (“UWI”) and have access to its staff and facilities, most notably the School of Medical Sciences, Clinical Trial Centre, and eight associated hospitals.
The announcement comes on the heels of last night’s news that Jamaica’s House of Representatives passed an amendment to its Dangerous Drugs Act, decriminalizing small amounts of marijuana and instituting a licensing agency to establish and regulate a domestic medical marijuana industry.
The changes to the Act will facilitate ganja use for therapeutic purposes, as prescribed by a registered practitioner, or for scientific research conducted by an accredited tertiary institution or otherwise approved by the Scientific Research Council (SRC). SRC is a public sector agency tasked with fostering scientific research and promoting its application within Jamaica.
Commenting on the announcement Tony Verzura, Untied Cannabis’ Chief Technical Officer, stated, “The SRC’s and UWI’s support of our vision for the creation of a state-of-the-art research and development facility is invaluable. With their support, we can now begin the preliminary safety and efficacy testing of our Prana Bio Medicinal Products. The data gathered will be used to further the patent filings we made this past October, as well as help us prepare the protocol documentation necessary to commence clinical trials.”
Mr. Verzura continued, “I see the effect our Prana products have on patients every day, and it’s not just therapeutic; it impacts their entire lives. The opportunity to verify the anecdotal evidence thru the clinical process is the moment of truth. This Partnership will enable us to provide the medical community and policymakers with clinical data to substantiate those results.”
By virtue of the Partnership, United Cannabis and CRD can begin to implement their plans to standardize the cultivation of cannabis and production of medical cannabis products for research and development. One step in this process will be the creation of a “Ganja Cooperative,” which will provide local farmers with access to established genetics as well as training in proven cultivation methodologies, in order to generate standardized crops with optimum yields. Uniform plant production is the precursor to further production, processing and testing.
John Sayers, Jamaican-based Director of CRD, went on to say “This is a very strong partnership. SRC and UWI are on the frontlines of Jamaica’s impending cannabis industry, and our relationship with them gives us the ability to begin channeling the resources we need to begin this project while the infrastructure provided for in the amendment goes into effect. This is an exciting time for the cannabis industry, and I look forward to working with this team to help establish Jamaica as a frontrunner in the innovation of cannabinoid science.
Marcus Richardson, Chief Technology Officer of CRD “The passing of this amendment makes clear that the Jamaican government recognizes the potential impact of cannabis, as a medicinal herb for the world, and an industrial product that just might be the healing of the nation. This Partnership is a first step towards scientifically exploring pure plant profiles, i.e phytocannabinoids, as medicine, and I expect the results will be significant.”
About United Cannabis Corporation
United Cannabis Corporation was founded to provide leadership for the medical cannabis industry by offering patient driven solutions intent on improving biomedical and pharmaceutical pursuits thru the use of cannabis-based research, products and services. For further information, please visit www.unitedcannabis.us.
About Cannabinoid Research & Development
Cannabinoid Research and Development Company Limited is a Jamaican-based corporation pursuing local licensing to advance the use of medical cannabis therapies through biomedical research and development for the nutraceutical industry. The company focuses on genetic restoration, cannabinoid isolation techniques, scientific research, educational programs, and promoting domestic job opportunities. The company is pioneered by Marcus Richardson, a cannabis veteran from Canada, with over 20 years of resin isolation experience, and backed by Jamaican partners specializing in agricultural science and plant-based medicine.
About Scientific Research Council
The Scientific Research Council is Jamaica’s principal public sector agency, responsible for the fostering and coordination of scientific research and the promotion of its application. Most of the Council’s projects support the growth and development of the agro-industrial sector in Jamaica through research, adaptation of available technologies, creation of new and appropriate technologies and the provision of training and technical assistance.
About the University of West Indies
UWI is the largest and longest standing higher education provider in the English-speaking Caribbean. UWI offers undergraduate and postgraduate certificate, diploma and degree options in Engineering, Humanities & Education, Law, Medical Sciences, Pure & Applied Sciences, Science and Agriculture, and Social Sciences. Its Clinical Trial Centre was established to provide the necessary support to investigators for protocol development, budgeting, ethical guidelines, data management and reporting.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE: United Cannabis Corporation