Vancouver, British Columbia--(Newsfile Corp. - April 17, 2019) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical") announces that the Company's research collaboration with UniQuest and The University of Queensland ("UQ") has led to the filing of two new patent applications for cyclic peptides and their use in pain management (the "Patent Applications").
The Patent Applications follow from PreveCeutical entering into a research agreement in 2018 (see news release dated January 30, 2018) with UniQuest, UQ's commercialisation company. The research includes the application of UQ's disulphide linker technology to potentially develop non-addictive analgesics (the "Analgesics Research Program").
The two new Australian Patent Office patent files are:
- Australian Patent Application No. AU2019/900226, entitled "A Cyclic Peptide" filed January 24, 2019; and,
- Australian Patent Application No. AU2019/900292, entitled "A Cyclic Peptide" filed January 30, 2019.
PreveCeutical's President and Chief Science Officer, Dr. Mak Jawadekar stated: "I am pleased by the two new Australian patent applications which are based upon PreveCeutical's research collaboration with UQ and UniQuest. We are incredibly excited by our partnership with UniQuest and the intellectual property arising from the non-addictive analgesics program at UQ. The research program aims to develop a non-addictive alternative to opioid painkillers by developing cyclic peptides. Opioid-based pain treatments such as morphine, codeine and fentanyl activate the mu opioid receptor, which can be highly addictive. This research provides a potential mechanism for pain treatment without activating that receptor. An additional potential advantage of the cyclic peptides is their enhanced metabolic stability and more importantly oral bioavailability, meaning that they could be taken orally rather than intravenously."
UQ School of Pharmacy researchers, Associate Professor Peter Cabot and Dr. Harendra (Harry) Parekh are leading the two-year research program into the peptides and their potential application as a treatment for pain.
UniQuest CEO, Dr. Dean Moss stated: "The patent applications represent an important milestone in our relationship with PreveCeutical and follow the entry into three other research agreements with PreveCeutical in recent years, including an agreement to stabilise peptides isolated from scorpion venom for use in immune-boosting applications; an agreement for the development of a new formulation to deliver cannabinoids directly to the central nervous system via the nasal cavity; and an agreement for a gene therapy to treat diabetes and obesity."
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilising organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the soluble gel drug delivery research and development program; Nature Identical peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).
For more information about PreveCeutical, please visit www.PreveCeutical.com, follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical.
UniQuest is Australia's leading commercialisation entity, specialising in commercialising the intellectual property of The University of Queensland, a global top 50 university. UniQuest benchmarks in the top tier of technology transfer worldwide.
For more information about UniQuest, please visit https://uniquest.com.au/.
On Behalf of the Board of Directors of PreveCeutical
"Dr. Makarand (Mak) Jawadekar"
President & Chief Science Officer
For further information, please contact
Director of Corporate Communications & Investor Relations
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the granting of the Patent Applications and the continued research interests of PreveCeutical, PreveCeutical anticipated business plans and their prospects of success in executing their proposed plans. Often, but not always, forward-looking statements can be identified by words such as "will", "pro forma", "plans", "expects", "may", "should", "budget", "schedules", "estimates", "forecasts", "intends", "anticipates", "believes", "potential", "proposes" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking statements are based on certain assumptions regarding PreveCeutical, including expected growth, results of operations, including PreveCeutical's research and development activities, performance, industry trends, growth opportunities, and that PreveCeutical will be able to obtain the financing required to carry out its planned future activities, retain and attract qualified research personnel and obtain and/or maintain the necessary intellectual property rights needed to carry out future business activities.
Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to: complexities and delays in connection with research and development activities and the actual results of research and development activities including the Analgesics Research Program; the acceptance of the Patent Appplications and the granting of the patents thereunder; the ability of PreveCeutical, to, among other things, protect their respective intellectual property, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities; and the ability of PreveCeutical to commercialise the Analgesics Research Program, pursue business partnerships, complete their research programs as planned, and obtain the financing required to carry out their planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the biotechnology or pharmaceutical industry, may also adversely affect the future results or performance of PreveCeutical. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, PreveCeutical assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although PreveCeutical believe that the statements, beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by PreveCeutical from time-to-time. These reports and PreveCeutical's filings are available at www.sedar.com.
Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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