Veritas Pharma Inc. (
) (CSE: VRT), an early stage pharmaceutical company developing innovative medical cannabis cultivars for specific conditions, recently announced that it has developed several cannabis strain candidates and is fully engaged in chemical and biological assessment of these key strains. The move marks the next milestone in the company’s efforts to bring cannabis therapies to market.
“We are extremely pleased with the progress being made; Further recruitment and recent additions to the R&D team now stands at 16 qualified individuals to advance and deliver on our R&D goals within the intended timelines,” said Veritas Pharma CEO, Dr. Lui Franciosi. “Thus far, six cannabis strains have already undergone both chemical and pharmacological analyses with many more strains being processed over the coming weeks.”
The company’s three-pronged approach involves chemically profiling different marijuana cultivars, pharmacologically profiling the most promising cultivars in search for disease-specific strains, and then performing clinical trials to establish the clinical utility of each cultivar administered as a dried leaf or an oil extract. The company is initially targeting conditions like chronic pain, emesis, and epilepsy, but could expand into additional indications.
Veritas recently raised $1.12 million through private placements and expanded its inter-disciplinary team of chemists, pharmacologists, anesthetists, and clinical pharmacologists – many of whom hold PhD’s in their respective fields. The company expects to match its existing research funds through available industry-academic grants and use those funds to analyze as many strains as possible over the coming months.
Watch a video showcasing the company’s team on Vimeo:
https://vimeo.com/169918404/ee7f85183f
The company is among the first companies in Canada to scientifically investigate the claims made about the therapeutic benefit of whole cannabis plants. With its lean approach, it aims to bring therapeutics to the market at a lower cost and faster timeline than competitors. The Bank of America estimates that the U.S. medical cannabis industry alone stands at $2.9 million and could grow to between $10.8 and $35 billion in five years.
Investors interested in the medical cannabis industry may want to take a closer look at Veritas Pharma as it continues to conduct research in the field. For more information, visit the company’s website at www.veritaspharmainc.com.
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