SAN JUAN, Puerto Rico, May 15, 2019 (GLOBE NEWSWIRE) -- Veritas Pharma Puerto Rico, Inc., a wholly owned subsidiary of Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas”), is pleased to announce the completion of its clinical trial on its lead cannabis treatment (“CTL-X”) for acute pain. The clinical trial was designed as a randomized, double-blinded, cross-over trial and tested the efficacy of vaporized CTL-X for the treatment of acute pain in healthy adult subjects.
FDI Clinical Research ("FDI"), a San Juan-based clinical research organization, conducted the studied following GMP standards. Veritas' Medical Director Dr. Scott Alexander and FDI’s CEO Dr. Jose F. Rodriguez Orengo designed and successfully carried out this study to obtain clinical data on the safety and potential efficacy of CTL-X in acute pain
During the next three (3) months, Veritas and FDI will analyze the data and submit a scientific manuscript for publication addressing the key outcomes from the trial including:
- Preliminary efficacy data on CTL-X compared to placebo
- Guidelines on dosage
- Safety and tolerability data, such as side effects and adverse events, associated with CTL-X
Dr. Scott Alexander commented, “from this study, we will be able to provide real scientific and evidence-based data on the use of cannabis for medical purposes for treatment of acute pain. We believe that for millions of people suffering from acute pain vaporized cannabis can potentially reduce the need for other medications, including opioids. From results of this study, clinicians will have a better understanding for specific dosage and delivery of cannabis for acute pain. Additionally, our data will encourage further research to further quantify possible risks and valid functional benefits of whole plant cannabinoids as a complementary therapeutic approach in medicine.”
Furthermore, Veritas would like to announce granting of 1,200,000 options to the company’s interim CEO/CFO and directors under the stock option plan at an exercise price of $0.52 for a period of 5 years from the date of the grant.
About the Fundación de Investigación
The Fundación de Investigación (or “Foundation for Investigation”) is one of Puerto Rico’s leading clinical researchers with the only Phase 1 and Bio-Analytical Laboratory on the island. The FDI has successfully completed hundreds of FDA-regulated clinical trials sponsored by some of the world’s top pharmaceutical companies. In FDI’s Bioanalytical laboratory, multiple analytical assays have been developed and validated, converting FDI’s clinic to a one-stop-shop for pharmaceutical companies.
For more information, please visit their website: fundaciondeinvestigacion.com
About the Institute for Medical Cannabis
The Institute for Medical Cannabis is one of Puerto Rico’s leading industry specialists that provides cultivation, extraction, formulation, multiple forms of production, research, and distribution using the best, award-winning strains, technology, and processes that the industry offers. Located on a private 25-acre farm in Ponce, Puerto Rico, IMC’s facilities and operations are designed to withstand hurricane wind loads, control temperature and humidity, and maximize the island’s natural sunlight. Licensed under Puerto Rico’s State Department Medical Cannabis Health Code. Last year, IMC became the first local cannabis business to be certified as “Clean Green,” thus surpassing USDA-standards for organic products.
For more information, please visit their website: imc-pr.com
About Veritas Pharma Puerto Rico, Inc.
Veritas Pharma Inc. is an emerging pharmaceutical and IP development company, which, through its 100% owned subsidiary Veritas Pharma Puerto Rico, Inc. is advancing the science behind medical cannabis. It is the Company’s aim to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy, and PTSD, solving the critical need for clinical data to support medical marijuana claims. Veritas’ unique value proposition uses a low-cost research and development model to help drive shareholder value and speed-to-market.
Veritas’ investment is led by a strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect IP (cultivars & strains) and sell or license to cancer clinics, the insurance industry, and pharma, targeting multi-billion-dollar markets.
Veritas Pharma Inc. is a publicly traded company in Canada, on the Canadian Stock Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.
For more information, please visit our website: veritaspharmainc.com
On behalf of the Board of Directors
Interim Chief Executive Officer & CFO
The CSE has not reviewed, nor approved or disapproved the content of this press release.