- Unique scientific approach lends more credibility and increases consumer confidence
- Huge potential for cannabis to replace opioids as analgesics
- Strategic partnerships position Veritas strongly in the medical cannabis industry
On September 13, 2017, Cannevert Therapeutics Ltd. (“CTL”), the research arm of Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF) (FRT: 2VP), filed a provisional patent for the use of a specific strain of Cannabis to enhance the actions of opioid analgesics. Opioid analgesics are traditionally prescribed for relief of acute and chronic pain. However, over-prescription or prolonged use can lead to addiction. Recreational users of opioids commonly run the risk of fatal overdose, with more than 33,000 deaths from opioid overdose reported in 2015, according to the U.S. Centers for Disease Control and Prevention. Cannabinoids found in cannabis provide similar pain relief to opioids, but without the side effects and fatality risk. There is evidence that cannabinoids and opioids can work in synergy to moderate pain. As restrictions on the use of cannabis are eased, there is tremendous potential for cannabis to provide a safe alternative to opioids as an analgesic.
Veritas Pharma employs a scientific approach to support medical cannabis claims and is intent on developing and commercializing the most effective strains of cannabis for medical use. The company is concerned that, with the rapid growth of the medical cannabis industry, product quality is inconsistent and scientific proof of effectiveness is lacking. By forming strategic alliances and partnerships within the industry, the company intends to address this issue. Its approach to research and development is aimed firstly at chemically profiling the various cultivars of cannabis. As a second step, each cultivar is pharmacologically profiled to identify strains for specific diseases before clinical trials are undertaken to establish each cultivar’s utility and efficacy. By using this approach, Veritas will provide physicians and patients the scientific evidence necessary to enable them to use its products with confidence.
There are almost 800 strains of cannabis that have been identified globally, all with varying degrees of quality, potency, and efficacy. Veritas Pharma intends to develop a database of scientific knowledge on these strains while identifying their potential medicinal uses. The company owns an 80 percent stake in Cannevert and will use CTL’s team of pharmacologists, chemists, and anesthetists for the research and development of new strains of medical cannabis.
To date, over 150 pharmacological and biological studies have been conducted leading to the identification of two cannabis strains for the relief of pain and nausea. In addition, the company’s development pipeline includes clinical research and development for strains that can be used for migraines, muscle spasms, epilepsy, inflammation and post-traumatic stress disorder.
To expand and bring its products to market, Veritas Pharma signed an agreement in 2016 with Sechelt Organic Marijuana Corp., subject to Sechelt getting an ACMPR (Access to Cannabis for Medical Purposes Regulations) license to produce cannabis. In anticipation of the license award, Sechelt has leased a property, with an option to purchase, to build a 20,000 square feet two-story facility in British Columbia, Canada. This will include budding rooms of 6,800 square feet, 3,000 square feet of cloning rooms, a testing laboratory and a secure storage room.
Veritas Pharma’s approach to cannabinoid-based product development is unique in the industry. The company has the full belief that its scientific approach will increase consumer confidence and give the industry the credibility it is currently lacking.
For more information, visit the company’s website at www.VeritasPharmaInc.com
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