VICTORIA, British Columbia, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics, Inc. (TSXV:EMH; OTCQX:EMHTF) (“Emerald”) has entered into a research agreement with VivaCell Biotechnologies Spain S.L.U. (“VivaCell”). VivaCell is an institute focused on cannabis research, which will provide its cannabis-industry-leading contract research organization (CRO) services to Emerald to elucidate the mechanism of action of proprietary formulations and dosage forms that Emerald is developing. This collaboration has the potential to strengthen Emerald’s intellectual property portfolio and assist in establishing Emerald as a leader in the development of proprietary cannabis products for medical-use and improved adult-use products with more precise and consistent delivery, dosage, and formulations.
“There are a rare few organizations that focus their understanding of the cannabis plant at the heart of its scientific development and strategic operations. We’re fortunate to have VivaCell as part of the Emerald Health group of companies and look forward to working on this project,” said Chris Wagner, CEO of Emerald. “With 17 patents filed to date, we are advancing our product development process. The data from this work will aid us in this process. Our goal is to expand our product pipeline with innovative products substantiated by scientific data and protected by our intellectual property.”
VivaCell was founded in 2003 as a spin-off of the AINP and Cannabis EU projects by a group of internationally renowned researchers. VivaCell’s in-house research and development capabilities are complemented through its partnerships with top academic research centers at the University of Córdoba, Complutense University of Madrid, Instituto Cajal in Madrid, and University of Piemonte Orientale (Italy). This model allows VivaCell to utilize a wide breadth of expertise in biomedicine, pharmacology and chemistry to optimize their contract research offerings to support the product development of their clients.
“Emerald’s focus on scientific innovation has the potential to produce a future product pipeline of next-wave cannabis products that fit the needs and preferences of both adult-use consumers and patients,” said Mari-Luz Bellido, Managing Director of VivaCell. “We believe that cannabis has the potential to be developed into consistent, high-value downstream products. We are pleased to support the development of Emerald’s intellectual property by employing our deep cannabis research experience and conduct rigorous preclinical studies. ”
VivaCell is a wholly-owned subsidiary of Emerald Health Sciences, which also owns approximately 32% of the issued and outstanding shares of Emerald Health Therapeutics, Inc. Accordingly, both VivaCell and EHS are related parties of the Company for purposes of National Instrument 61-01: Protection of Minority Security Holders in Special Transactions. The transaction is exempt from the valuation and minority approval requirements of NI 61-101 pursuant to the exemptions in Sections 5.5(b) and 5.7(1)(a) of NI 61-101.
About VivaCell Biotechnologies Spain S.L.U.
VivaCell Biotechnologies España SL is a privately held research company focused on new non-psychotropic cannabinoids for the treatment of inflammatory and neurodegenerative diseases. It is a worldwide pioneer in the discovery and research of cannabidiol and cannabigerol chemical derivatives that improve the therapeutic properties of the natural cannabinoids. Additionally, VivaCell’s expertise includes research on hemp extracts (non-psychotropic cannabis varieties) such as CDE-001 to improve inflammatory skin conditions as atopic dermatitis. In addition, as a leading cannabis research institute, VivaCell provides broad contract research services that maintain exceptionally high standards for their scientific teams, and state-of-the-art facilities, with a focus on expediting research programs, drug discovery and lead candidate selection, and preclinical development. More information about the company is available here.
About Emerald Health Therapeutics, Inc.
Emerald Health Therapeutics, Inc. (TSXV: EMH; OTCQX: EMHTF; Frankfurt: TBD) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald owns 50% of Pure Sunfarms, which is converting a licensed existing 1.1 million square foot greenhouse in Delta, BC, and is in commercial production. It owns Agro-Biotech, a Québec-based licensed cannabis grower with a 75,000 square foot indoor facility and has secured a long-term supply contract for approximately 500 acres of industrial hemp in 2018 and up to 1000 acres in 2019 to 2022, which provides low-cost cannabidiol (CBD) supply for the company’s manufacturing needs.. Emerald’s team is highly experienced in life sciences, product development, large-scale agri-business, and marketing, and is focused on developing value-added cannabis-based products with potential wellness and medical benefits. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical, and nutraceutical products that may provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information or contact:
Rob Hill, Chief Financial Officer
(800) 757 3536 Ext. #5
Ray Lagace, Investor Relations Manager
(800) 757 3536 Ext. #5
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Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include strengthening Emerald’s intellectual property portfolio; establishing Emerald as a leader in development of proprietary cannabis products; advancing Emerald’s product development process; expanding Emerald’s product pipeline with innovative products substantiated by scientific data and protected by intellectual property; and development of cannabis into consistent, high-value downstream products. .
We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, failure to obtain regulatory approvals; failure to obtain necessary financing; results of scientific research; regulatory changes; demand for products; efficacy of products; as well as the risk factors described in the Company’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.