- PreveCeutical is continuing its extensive research work on the Sol-gel CBD-based delivery system
- An expansion to Australia has enabled the company to run simultaneous tests on cannabis strains and delivery systems
- The scientific work is in line with a growing demand for cannabidiol and medicinal cannabis products
Over the past few months, PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) has been working on the advancement of its innovative Sol-gel drug delivery research program. The focus of the research is to apply Sol-gel technology to develop cannabinoid-based therapies for the relief of symptoms associated with pain, inflammation, seizures and neurological disorders.
The company’s Sol-gel delivery system is unique in that the formulations gel rapidly with nasal mucosal tissue to facilitate direct nose-to-brain delivery of cannabinoids. The gel substantially improves bioavailability and provides controlled cannabinoid release, staying in the nasal passages for up to seven days.
Two major developments occurred in May as part of the company’s advancing Sol-gel research and development.
On May 7, 2018, PreveCeutical signed a non-disclosure agreement (NDA) with a globally-recognized manufacturer of drug delivery systems. Under the NDA, PreveCeutical will enter negotiations for the supply of spray devices that will be used in the Sol-gel research program.
On May 14, a second shipment of cannabis materials arrived to the Pharmacy Australia Centre of Excellence at the University of Queensland to help the PreveCeutical research on the development of the Sol-gel program. In March 2018, PreveCeutical incorporated its first subsidiary in Australia – an expansion aimed at making the best of the strong clinical research principles in the country and the commitment of the Australian government to support innovation.
Currently, the company’s research is focused on testing various cannabis strains for the purpose of formulating potent and effective Sol-gels. PreveCeutical Chief Research Officer Dr. Harendra Parekh is leading the program.
In addition, various spray devices have already been tested. According to PreveCeutical CEO and President Stephen Van Deventer, a focus on safety regulations and a tamper-proof delivery system will be of paramount importance. While the Sol-gel program is still in its early phases, the evaluation of delivery systems alongside the cannabis strain testing demonstrates a strong commitment to having a working innovative treatment product on the market.
Research has shown that cannabidiol (CBD) has significant anti-inflammatory, anti-anxiety and anti-emetic properties (http://nnw.fm/z2D8Y). The CBD market is growing exponentially, with the Hemp Business Journal estimating that this cannabis industry sector will grow to $2.1 billion by 2020 (http://nnw.fm/q1E7Z). For comparison, the CBD market last year was valued at $202 million.
CBD market growth is in line with the overall expansion of the medical cannabis market. Grand View Research predicts that the medical cannabis industry will reach $55.8 billion by 2025 (http://nnw.fm/Z1kMC). The growing prevalence of medical conditions that have chronic pain as a symptom is one of the factors that will drive the demand for such treatments, alongside cannabis legalization initiatives across the U.S., which will also play a role. In 2017, chronic pain accounted for the largest medical cannabis segment – nearly 39 percent of all therapeutic applications.
PreveCeutical is well positioned to capitalize on this market growth. In addition to the Sol-gel delivery platform, the company is developing solutions based on peptides derived from Caribbean blue scorpion venom for pain management, cardiovascular conditions, cancer, metabolic disorders and infectious diseases.
For more information, visit the company’s website at www.PreveCeutical.com
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