BALTIMORE, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Greater Cannabis Company, Inc. (“GCANRx” or the “Company”) (OTC: GCAN) a biopharmaceutical company pioneering development of next generation cannabinoid therapeutics and consumer products today announced that it has begun the preclinical phase of assessing its novel neuropsychiatric cannabinoid therapy.
The Company’s announcement of the preclinical study follows the signing of a license and research agreement with Shaare Zedek Scientific related to the invention developed by Dr. Adi Aran, renowned cannabinoid researcher. Dr. Aran will lead the clinical study while Professor Tal Burstyn-Cohen, Ph.D. of the Hebrew University, through the Yissum Research Development Company, will be leading the preclinical study. The preclinical study aims to assess the synergistic impact of various combinations of the neuroprotective therapeutic in a preclinical model. Professor Burstyn-Cohen’s lab studies how microglia function in the regulation and maintenance of a healthy nervous system, and the consequences of any disruption of their function. The Company expects the study to generate in vitro data that will demonstrate significant neuroprotective attributes of the therapeutic. The study is expected to conclude by the third quarter of 2022, and the research team will produce interim evaluations of each assessment method beginning in the first quarter of 2022.
“We are excited to be embarking on this initial study in what is the first in a series of steps we are taking to validate our therapeutic and its potential to be an integral part of neuroprotective therapies,'' said Aitan Zacharin, GCANRx CEO. “There is an unmet need in a large population of patients suffering from the serious side effects that typically accompany current standards of care in neuropsychiatric disorders. We know that cannabinoids have been shown to be clinically effective and safe as a treatment for many conditions. It’s our belief, based on past clinical data, that our product will provide better efficacy than cannabidiol alone as a neuroprotective therapeutic. We intend to substantiate this through our accelerated research and development program.”
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About Yissum: Yissum is the technology transfer company of The Hebrew University of Jerusalem. Founded in 1964, it is the 3rd company of its kind ever created, and has a rich tradition of innovation and commercialization. Through its efforts to identify and create breakthrough scientific research at Hebrew University, the company aspires to advance commercial solutions to the most pressing global challenges facing humanity. Some well-known spin-off companies include Mobileye, Orcam, Collplant, Qlight, and Briefcam. Yissum’s business partners span the globe and include companies such as Novartis, Johnson & Johnson, Merck, Intel, Google, Boston Scientific, ICL and many more. Since its inception, Yissum has registered 10 750+ patents covering 3,030+ inventions; licensed 1050+ technologies and produced 170+ spin-off companies.
About Greater Cannabis Company: The Greater Cannabis Company (OTC: GCAN), (“GCANRx” or the “Company”) is a fully reporting publicly traded biopharmaceutical company focused on the development of cannabinoid therapeutics. The Company conducts medical research, and is pursuing clinical trials, to develop innovative cannabis-based treatments for various medical conditions and their symptoms with an initial focus on neuropsychiatric disorders. GCANRx’s mission is to bring its products to the global market through partnerships with leading cannabis and pharmaceutical companies for the benefit of patients and consumers.
Disclaimer: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2020 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.
These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
