Algae Dynamics Corp Announces Research Agreement With University of Western Ontario
14 March 2017 - 12:30AM
Marketwired
Algae Dynamics Corp 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, ON-(Marketwired - Mar 13, 2017) - 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:
http://www.schulich.uwo.ca/anatomy/people/bios/fac...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. 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® 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:
Paul Ramsay
Phone:
289-997-6740
Email: ramsay@algaedynamics.com
www.algaedynamics.com
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