ALGAE DYNAMICS CORP (OTCQB: ADYNF) ANNOUNCES RESEARCH AGREEMENT WITH UNIVERSITY OF WESTERN
ONTARIO TO INVESTIGATE THE USE OF CANNABIS DERIVATIVES FOR THE DEVELOPMENT OF
NOVEL PHARMACOTHERAPIES FOR MENTAL HEALTH
TORONTO, CANADA / March 13, 2017 (Investorideas.com Newswire) ALGAE DYNAMICS CORP (OTCQB: ADYNF)
(the "Company"), a development stage company focused on
the development of unique health products and pharmaceuticals utilizing
cannabis and algae oils, today announced a
research and product development agreement with Western University to perform research on cannabis oil and its
constituents in the context of depression, post-traumatic stress disorder,
anxiety and schizophrenia. This is the second of the recently announced
research agreements with Canadian universities involving cannabis oil research.
This announcement brings Algae Dynamics total university research contributions
to $1. 6 million for both programs.
This announcement follows the Company’s previously announced
new strategic initiative to explore the extraction of oils from other
botanicals, most notably cannabis, and to seek product development and
formulation opportunities that combine the benefits of algae and cannabis oils.
This research agreement will directly support this initiative and will “focus
on translational pharmaceutical research, with a specific focus on identifying
how specific phytochemical compounds found in cannabis, including
delta-9-tetrahydrocannbinol (THC), cannabidiol (CBD), cannabinoid-derived
terpenoids and other potential phytochemical derivatives of cannabis may serve
as novel pharmacological treatments for symptoms associated with depression,
post-traumatic stress disorder, anxiety and schizophrenia.”
Paul
Ramsay, Chairman and President of the Company said, “With this research
agreement, we are building upon the previously announced strategic initiative
into the use of extracts from cannabis oil, in conjunction with algae oil, to
develop unique health products and formulations. In our previous press release,
we outlined a three-part approach, the first being Research and Development
work with Canadian universities. This is the second of such research agreements
relating to the use of botanical extracts including cannabinoids that we expect
to employ”.
The
investigator leading the research is Dr. Steven Laviolette, a Professor and Neuroscientist in the
Schulich School of Medicine & Dentistry at Western University. Dr.
Laviolette is a leader in the study of cannabinoids in mental health. Dr.
Laviolette’s research team has previously made numerous fundamental discoveries
related to how cannabinoids impact and may serve as treatments for mental
health disorders including schizophrenia, depression, post-traumatic stress
disorder and anxiety. Dr. Laviolette’s primary research focus is in
characterizing how specific phytochemical derivatives of cannabis may interact
with specific brain pathways and molecular mechanisms whereby they may improve
symptoms associated with various mental health disorders. Research from Dr.
Laviolette’s team has been published in the top neuroscience and psychiatry
journals in the world. His full profile may be seen on the Western University,
website www.uwo.ca:
The
Company’s contribution to the four-year Sponsored Research Agreement, which
commences April 1, 2017 and terminates March 30, 2021, is C$250,000 per year.
The Company believes, from past experience, that it will be able to leverage
the research expenditures with matching scientific grants pursuant to programs
of various branches of government. The Company will be responsible for the
filing of patents relating to this research and will own such patents if and
when issued. The Company has agreed to make payments to the University upon
filing of each patent, when each patent is issued, after first commercial sale
and when gross sales reach C$1,000,000. There
are no ongoing royalty payments, relating to the use of the patents. The
workplan may be extended and modified to achieve best outcomes which may
include 1) delegating specific research areas of research work that require
additional technologies to appropriate providers; and 2) engaging research
collaborators to extend the research into additional areas of benefit to the Company.
The
Company’s core product development strategy has been the production of high
volume specific algae species and extraction of Essential Fatty
Acids (EFAs) which is the
foundation of the endocannabinoid system (ECS). The ECS is a group of endogenous
cannabinoid receptors located in the mammalian brain and throughout the central
and peripheral nervous systems, consisting of neuromodulatory lipids and their
receptors. The extracted algae Omega
3 oil with high concentrations of DHA is used as a health supplement product. In
light of the potential synergies, the Company has
developed its strategy which is aimed at developing new products and
formulations that combine the health benefits of algae and cannabis oils.
As reported earlier, the Company is
continuing to seek opportunities to partner with or take ownership in existing
Access to Cannabis for Medical Purposes Regulations (ACMPR) licensed producers
to allow for access to the marketplace.
Read this release in full at http://www.investorideas.com/CO/ADYNF/news/2017/03131ResearchAgreement.asp
About Algae Dynamics Corp
ADC
is currently engaged in the development of unique health products and
pharmaceuticals that utilize hemp, cannabis and algae oils. This is an
extension of our plan to commercialize our proprietary BioSilo(R) algae
cultivation system for the high volume, low cost production of pure
contaminant-free algae biomass which is high in Omega-3 fatty acids. We have
engaged two Canadian universities to provide research into the use of extracts
from cannabis oil, which we plan to use to develop products that combine the
significant health benefits of Omega-3s derived from algae oil and extracts
from cannabis oil. Our research is focusing on the use of cannabis oil in the
context of cancer, and the use of cannabis derivatives for the development of
novel pharmacotherapies for mental health.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
news release contains "forward-looking statements" as that term is
defined in Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended. Statements in this press release which are
not purely historical are forward-looking statements and include any statements
regarding beliefs, plans, expectations or intentions regarding the future. Such
forward-looking statements include, among other things, use of proceeds and the
development, costs and results of current or future actions and opportunities
in the sector. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors include, among
others, the inherent uncertainties associated with new projects and development
stage companies, our ability to raise the additional funding we will need to
continue to pursue our exploration and development program, and our ability to
retain important members of our management team and attract other qualified
personnel. These forward-looking statements are made as of the date of this
news release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe that any
beliefs, plans, expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors should consult
all of the information set forth herein and should also refer to the risk
factors disclosure outlined in our annual report on Form 10-K for the most
recent fiscal year, our quarterly reports on Form 10-Q and other periodic
reports filed from time-to-time with the Securities and Exchange Commission.
FOR MORE INFORMATION, PLEASE CONTACT:
Disclosure:ALGAE DYNAMICS CORP (OTCQB: ADYNF) is a featured company on the 420 Cannabis Investor Ideas
of 2017 at www.420cannabisinvestorideas.com
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