Global Hemp Group Announces Execution of Exclusive Licensing Agreement for the Intellectual Property of Apollon Formularies PLC Covering the United States, Canada, and Mexico
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2023) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) ("GHG" or the "Company") is pleased to announce that further to the Company's announcement of January 11, 2023 regarding the execution of the binding LOI with Apollon Formularies Plc - (AQSE: APOL) ("Apollon"), the Parties have now executed an exclusive licensing agreement (the "License Agreement") dated January 19, 2023 covering the licensing of the right to Apollon's Patent Applications and the Technology for the United States, Canada, and Mexico.
Apollon is a UK-based international pharmaceutical company developing cancer treatments from natural biologics, including medical cannabis, functional mushrooms, psychedelic mushrooms and most importantly combinations of these compounds. These formulations have demonstrated significant success in independent, third-party pre-clinical testing (see Apollon's July 19, 2021 news release "Apollon Formulations Kill Prostate Cancer Cells" for further information).
Licensing Fee - During the Term of this License Agreement GHG shall pay a quarterly licensing fee to Apollon ("Licensing Fee"), the payment of which shall be triggered when revenues are first generated from sublicensing activities. Payment of the Licensing Fee shall commence with the subsequent quarter. The Licensing Fee shall equal 10% of gross sublicensing fees received by GHG, and the Parties agree to reconsider the Licensing Fee from time to time, and if circumstances warrant, the Parties agree to negotiate in good faith to determine a reasonable revised License Fee.
Global Hemp Group will now look to begin an IP sub-licensing program to legally licensed manufacturers, distributors, and retailers in any and all locations where legally permitted in the United States, Canada, and Mexico. Until now, Apollon has been precluded from entering the North American market to license and sub-license its IP due to jurisdictional constraints placed on Apollon being an Aquis Exchange listed UK company. Dr. Stephen Barnhill, the Company's Special Medical Advisor and creator of Apollon's IP will assist GHG in entering these markets.
The vast majority of diseases are associated with alterations in multiple molecular pathways and complex interactions at the cellular and organ levels. Single-target monotherapies therefore have intrinsic limitations with respect to their maximum therapeutic benefits. The potential of combination drug therapies has received interest for the treatment of many diseases and is well established in some areas, such as oncology. Combinatorial pharmaceuticals can enable precision medicine by promoting the rational development of combination therapy at the level of individual patients for many diseases.1
Apollon has shown in independent; third-party preclinical testing that combinations of medical cannabis, functional mushrooms, and psychedelic mushroom compounds work synergistically together in the killing of cancer cells with a higher success rate than using the individual compounds alone. Based on the demonstrated higher efficacy of using combinatorial pharmacology, Apollon patent protected its discoveries in the following patents.
These patents are among the Intellectual Property Exclusively Licensed to Global Hemp Group for the entirety of North America.
Curt Huber, President & CEO of Global Hemp Group stated, "I am pleased to announce the signing of the exclusive License Agreement, which is the next step in the execution of the binding LOI between the companies." Mr. Huber continued, "We believe that there will be significant interest by legally licensed manufacturers, distributors, and retailers to sub-license the Apollon formulations from GHG and make them available to patients and doctors throughout the United States where legally allowed. These IP licenses will be offered on an exclusive and non-exclusive basis, state by state with an initial upfront license fee and recurring annual license fees. The United States is the largest cannabis market in the world. Apollon is a leading natural biologics pharmaceutical company that has demonstrated successful pre-clinical and clinical testing of their unique formulations for killing cancer cells and patent protected their discoveries including combining medical cannabis, functional mushroom, and psychedelic mushroom compounds working together to create a Super Entourage Effect. GHG is honored to be the Exclusive Licensee of the Apollon formulations for the entirety of North America.
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About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) is focused on a executing a multi-phased strategy to become a leader in the industrial hemp industry in the United States. The Company is headquartered in Vancouver, British Columbia. The current phase of the strategy focuses on the development of "sustainable" and "green" value-added industrial hemp products utilizing the processing of the entirety of the hemp plant for multi-merchantable applications, as will be showcased at the Colorado Hemp Agro-Industrial Zone (HAIZ) project in Hayden Colorado.
To further support and innovate the HAIZ, Global Hemp Group has established a Research and Development Division to actively pursue the development of Intellectual Property that can be patented for implementation at its projects and beyond. The Division is led by Prof. Víctor M. Castaño, Ph.D.-from the National Autonomous University of Mexico (UNAM), a highly recognized leader in areas of applied science and technology. The R&D team brings an amazing wealth of knowledge and experience in multiple disciplines and will initially focus on development of Environmentally Friendly Construction Materials, Nanofertilizers and Enhanced Extraction from Hemp.
For Further Information Contact Global Hemp Group
Curt Huber, President
Cautionary Note Regarding Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, and the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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