Agreement Will Facilitate Completion of First Candidate Product to Treat Traumatic Brain Injuries
MIAMI, FL / ACCESSWIRE / December 17, 2018 / Qrons Inc. (OTC PINK: QRON) ("Qrons " or the "Company"), a preclinical biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a laser focus on treating traumatic brain injuries ("TBIs"), announced today that it has renewed its Services Agreement with Ariel University for an additional year. This will allow Qrons to carry out the development of its modified mesenchymal stem cells ('MSCs") lines and supply models to aid in the treatment of TBI.
The Agreement contains the same terms and conditions as the expiring Agreement.
Jonah Meer, CEO of Qrons noted "We are pleased to renew our relationship with Ariel for a third year and are appreciative of the services provided. Our scientists are pleased with the progress made toward developing our first candidate product. Together with the Sponsored Research Project at Dartmouth College, we believe we are on track to have our first candidate product delivered next year. Following delivery, we will take the necessary preparatory steps to enable us to enter into clinical trials. We believe our solution stands out as our goal is to effectively heal the patient from the devastating consequences of TBI, a huge unmet medical need. Healing the patient will serve to avoid long-term treatment, degradation of the quality of life, possible future neuro-degenerative diseases and the substantial costs associated with TBI."
About Qrons Inc.
Headquartered in Miami, Florida, the Company is a publicly traded preclinical stage biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a laser focus on traumatic brain injuries. The technology could potentially treat a wide range of neurodegenerative diseases. The Company's treatment integrates proprietary, engineered mesenchymal stem cells, 3D printable implant, smart materials, and a novel delivery system. The Company entered into a license and research funding agreement ("License Agreement") and related service agreements with Ariel University R&D Co., Ltd., a wholly owned subsidiary of Ariel University, based in Ariel, Israel. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty-bearing license in Ariel patents and know-how to develop and commercialize products for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding. The Company entered into a Sponsored Research Agreement with Dartmouth College funding further research with Professor Chenfeng Ke and his team at the Chemistry Department, aiming to develop innovative 3D printable, biocompatible advanced materials and stem cell delivery techniques to treat TBI. The Company is negotiating, a worldwide, royalty-bearing, exclusive license with Dartmouth for Professor Ke's 3D printable materials in the field of human and animal health. Please visit http://www.qrons.com.
About Ariel University
Ariel University ('AU") is one of Israel's most respected institutions. AU has 23 research centers, including an Integrative Brain Science Center and a world-renowned Material Research Center.
AU has signed academic cooperation agreements with over 51 higher education institutions around the world, including the United States, Russia, France, Germany, Brazil, Portugal, Costa Rica, Ecuador, Argentina, Turkey, Poland, Ukraine, Georgia, Kazakhstan, Taiwan, and Armenia.
AU's Molecular Biology Department which has been operating independently since 2003 has a wide variety of laboratory courses in which students apply the theoretical knowledge they have acquired.
Safe Harbor Statement
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements concerning our future product development plans, other statements regarding future research, and any other statements which are other than statements of historical fact. These statements involve risks, uncertainties, and assumptions that could cause the Company's actual operations, results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. The Company has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are the Company's need for, and the availability of, substantial capital in the future to fund its operations and research and development; successful development of clinical studies for any product we may develop, U.S. Food and Drug Administration clearance for any products developed, manufacturing of a commercially-viable version of our system and demonstration of safety and effectiveness sufficient to generate commercial orders by customers for any product we may develop. A more complete description of these risk factors is included in the Company's filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. The Company undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
Contact:
Jonah Meer 786-620-2410
Email: jmeer@qrons.com
SOURCE: Qrons Inc.
View source version on accesswire.com:
https://www.accesswire.com/530539/Qrons-Extends-Services-Agreement-with-Ariel-University-for-Additional-Year
