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Pascal Biosciences and SōRSE Technology Optimize Cannabinoid Formulation for Clinical Development of Cancer Treatment

SEATTLE, WA and VANCOUVER, BC / ACCESSWIRE / December 8, 2020 / December 2, 2020 / Pascal Biosciences Inc. (TSXV:PAS)(OTC PINK:BIMUF) ("Pascal" or the "Company") and SōRSE Technology Corporation ("SōRSE") have validated and optimized a formula for oral cannabinoid delivery. Their shared efforts are advancing the cannabinoid PAS-393 towards clinical testing against cancer.

"This progress is very promising because this step is critical for testing in human volunteers," said Patrick Gray, CEO. "We will next identify a drug product manufacturer to prepare our product for testing in cancer patients treated with checkpoint inhibitors."

This will be the first pharmaceutical use of the novel formulation technology developed by SōRSE and the first clinical trial for Pascal and SōRSE. The collaboration utilizes propriety discoveries by both companies, including Pascal's intellectual property, which covers the use of cannabinoids in cancer patients treated with checkpoint inhibitors, and SōRSE's proprietary formulation expertise.

"It's great to see such rapid progress with the invitro studies using our formulation technology," said SōRSE CEO Howard Lee. "We are on track to enter our first clinical trial with Pascal within a year."

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Following characterization of safety and pharmacology in a Phase 1a clinical trial, Pascal and SōRSE may elect to continue clinical development as equal partners in a Phase 1b cancer trial in combination with a checkpoint inhibitor.

About Pascal Biosciences Inc.
Pascal is a biotechnology company targeting innovative therapies for serious diseases, including COVID-19. Pascal is also developing treatments for cancer with targeted therapies for acute lymphoblastic leukemia and cannabinoid-based therapeutics. Pascal's leading portfolio also comprises a small molecule therapeutic, PAS-403, that is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy. For more information, visit www.pascalbiosciences.com.

About SōRSE Technology
SōRSE Technology Corporation is a water-soluble emulsion technology designed for product developers to provide consumers with a better, more consistent cannabinoid experience with greater bioavailability, near-perfect dosing, shelf-stability, and safe ingredients. Its patent-pending technology converts oil into SōRSE, a proprietary water-soluble emulsion, for infusing CBD and other functional ingredients into beverages, food items, topicals, and medical applications. SōRSE Technology currently powers more than 45 leading products in the CBD space.PASCAL BIOSCIENCES INC.ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Patrick W. Gray, CEO

Investors:
invest@pascalbiosciences.com

Media Contact:
Julie Rathbun
info@pascalbiosciences.com
Tel: 206-769-9219

SōRSE TECHNOLOGY CORPORATION
ON BEHALF OF THE BOARD OF DIRECTORS

Howard Lee, CEO

DISCLAIMER
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Pascal Biosciences Inc.



View source version on accesswire.com:
https://www.accesswire.com/619885/Pascal-Biosciences-and-SRSE-Technology-Optimize-Cannabinoid-Formulation-for-Clinical-Development-of-Cancer-Treatment