Acquisition Includes IP Related to its Lead
Compound, Epidiferphane™, Used to Attenuate the Negative Side
Effects of Chemotherapy and Slow Tumor
Progression
DENVER, CO / ACCESSWIRE / July 20, 2017 /
United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United
Cannabis"), a biotechnology company dedicated to the development of
phyto-therapeutic based products, today announced the acquisition
of a majority share of Prana Therapeutics, Inc. ("PTI"), a clinical
stage biotechnology company developing Polymolecular Botanical
therapeutics for the oncology, neurology, and orthopedic
markets.
Prana Therapeutics is a biotech company focused on developing
targeted therapeutics for prevention of the negative side effects
of chemotherapy, management of rheumatoid arthritis, and treatment
of brain cancer. PTI's approach to drug development reflects the
recognition that most diseases have multiple causes and require
therapeutics that target multiple mechanisms. With the aid of
disease-specific screens, PTI has identified unique combinations of
botanical extracts to target the mechanisms of initiation and
progression of these diseases.
PTI's flagship product is Epidiferphane™, a proprietary
formulation composed of three botanical extracts, that has
demonstrated efficacy at preventing and treating several conditions
and disease indications, including:
- The Negative Side Effects Of Chemotherapy
An estimated 650,000 patients undergo chemotherapy each year, in
the US alone, at a cost of approximately $12 billion. Although
there are several protocols to minimize the side effects associated
with chemotherapy, there is currently no protocol that prevents
these symptoms. Preclinical data have shown Epidiferphane to be
effective in preventing Anemia (low red blood cells), Neutropenia
(low white blood cells), attenuating Chemotherapy Induced
Peripheral Neuropathy, and protecting the endogenous neural stem
cell population that is associated with Chemofog (memory problems).
These negative side effects reduce quality of life, can be life
threatening and result in dose reductions and treatment delays,
both which reduce the efficacy of chemotherapy.
At least one of these conditions is experienced by 90% of
patients going through chemotherapy.
Approximately 150 million patients suffer from inflammation and
pain associated with arthritis and back-centric conditions,
spending in excess of $30 billion on treatments, many of which have
significant side effects. Epidiferphane™, in combination with
nutritional ketosis, reduces levels of cytokines that contribute to
inflammatory diseases and in a small cohort of patients has been
reported to reduce pain, morning stiffness and improve sleep.
There are approximately 80,000 new brain cancer diagnoses in the
US each year; Glioblastoma, the most common type, has a survival
diagnosis of approximately 12 months. In pre-clinical rodent
testing, Epidiferphane™, in conjunction with a nutritional ketosis,
has been shown to double the mean life expectancy, increase the
effectiveness of chemotherapy, and sensitize chemotherapy resistant
tumors to standard of care drugs.
Earnest Blackmon, the Company's Chief Executive Officer,
commented on the announcement, "At United Cannabis, our work in the
development of cannabinoid therapeutics follows a conventional
biopharmaceutical research and development model. Our acquisition
of Prana Therapeutics broadens our foundation in plant-based drug
development. Just as we utilize the compounds found in the cannabis
plant to create our Prana Bio Medicinal products, Prana
Therapeutics identifies novel combinations of botanical compounds
to address unmet medical needs. Their principal drug,
Epidiferphane™, is a leading example of how combinatorial targeting
can be used to address complex and difficult-to-treat diseases.
Dr. Brent Reynolds, PTI's Chief Executive Officer, added, "The
conditions that PTI focuses on are multifaceted with numerous
mechanisms affecting their progression. One of the contributing
factors to the poor success rate of traditional drug development is
the focus on single mechanisms and individual drugs, which do not
take into account the redundancy that exists in the complex
interplay of disease development and progression. We have dedicated
our research efforts to developing combinatorial drugs that target
multiple mechanisms and focus on using botanical compounds that
have a high established safety profile. Epidiferphane™ is a first
generation Polymolecular Botanical Drug and has applications in a
number of disease fields. Our relationship with United Cannabis
will allow us to expand our clinical program and identify new
products that may combine the expertise of our two companies."
"The preliminary clinical results on Epidiferphane™ have been
very encouraging and we will dedicate our full resources to moving
the technology from pre-clinical to clinical testing, by submitting
an Investigational New Drug application and moving down the
rigorous FDA drug approval process. The goal will be filing a New
Drug Application with the FDA," according to Blackmon.
PTI was founded in 2012 by scientists from the Department of
Neurosurgery at the University of Florida based on technology
developed by Drs. Brent Reynolds and Loic Deleyrolle. Multiple
patents have been filed by the University of Florida centered
around composition of matter and uses of Epidiferphane™ for
treating cancer, attenuating the negative side effects of cancer
treatments and managing inflammatory diseases. These patents were
exclusively licensed to PTI in 2017.
Under the terms of the Agreement, United Cannabis has acquired a
majority ownership in PTI by exchanging newly issued shares of the
Company's common stock. PTI will continue to operate
independently.
About Prana Therapeutics, Inc.
Prana Therapeutics, Inc. is a clinical stage drug company
developing polymolecular therapeutics for the oncology, neurology,
and orthopedic markets. The company's intellectual property
foundation is based on discoveries made by University of Florida
scientists, Drs. Brent Reynolds and Loic Deleyrolle.
About Dr. Brent Reynolds
Dr. Reynolds received his PhD from the University of Calgary,
where he co-discovered the existence of stem cells in the adult
mammalian brain, a finding that challenged and overcame a century
old dogma that the mature brain did not have the capacity to repair
itself. After graduating, Dr. Reynolds co-founded the world's first
neural stem cell company, NeuroSpheres, LTD, where he developed a
patent portfolio and protocols related to the application of neural
stem cells to treating disorders of the central nervous system.
This technology is in the clinical testing phase for childhood
disorders, spinal cord injury, stroke, Macular Degeneration, and
ALS. Dr. Reynolds is a Professor in the Department of Neurosurgery
at the University of Florida, College of Medicine. His lab focuses
on the application of natural products for treating diseases and
dysfunction of the nervous system.
About Dr. Loic P. Deleyrolle
Dr. Loic Deleyrolle received his PhD degree in Neurobiology in
2006 from the University of Montpellier (France), where he studied
the molecular pathways regulating proliferation and differentiation
of spinal cord stem, and progenitor cells. He then joined Dr. Brent
Reynolds' laboratory as a postdoctoral research associate at the
Queensland Brain Institute of the University of Queensland
(Australia) until 2008, and subsequently moved with the lab to the
McKnight Brain Institute at the University of Florida. Dr.
Deleyrolle is an Assistant Professor in the Department of
Neurosurgery at the University of Florida, where his research is
focused on investigating the key cellular, molecular, and genetic
mechanisms underlying brain tumor heterogeneity and therapy
resistance.
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated
to the development of phyto-therapeutic based products supported by
patented technologies for the pharmaceutical, medical, and
industrial markets. The Company is a pioneer in the application of
cannabinoids for medical applications and is building a platform
for designing targeted therapies to increase the quality of life
for patients around the world. The Company's products are patent
protected, first in class medicines with applications to a global
market. United Cannabis trades on the OTCQB under the symbol
CNAB.
For further information, please visit www.unitedcannabis.us.
Contact:
Staff@UnitedCannabis.us
Phone: 303-386-7321
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933, and are subject to Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe
harbors, created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and other results and
further events could differ materially from those anticipated in
such statements. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying
the forward-looking statements.
SOURCE: United Cannabis Corporation