PALM BEACH, Florida, November 28, 2017 /PRNewswire/ --
Studies are displaying evidence that new strains of cannabis can aid the battle against opioid addiction and in turn, create yet another new revenue opportunity in the burgeoning and vast cannabis landscape. As America fights an alarmingly disturbing opioid epidemic, the results of these studies could push legislators to continue paving the way for legal use of medical strains of cannabis throughout the country. Researchers studied patients using prescription opioids to treat chronic pain who enrolled in a recent program between 2010 and 2015 discovered patients using cannabis based therapies reported pain reduction, quality of life, social life, activity levels, and concentration, and few side effects from using cannabis one year after enrollment in the New Mexico study program. Active in the legal cannabis markets today include: Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF), Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF), Aphria Inc. (TSX: APH) (OTC: APHQF), Aurora Cannabis Inc. (TSX: ACB) (OTC: ACBFF), Isodiol International Inc. (CSE: ISOL) (OTC: ISOLF)
Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF) announces its research arm, Cannevert Therapeutics Ltd. ("CTL") filed a provisional patent application to US Patent and Trademark Office (the "USPTO") on September 13, 2017 for use of a specific cannabis strain to enhance the actions of opioid analgesics. An acknowledgement letter from the USPTO was received recently which provided a filing number of US 62/558,021 for this application. Read this and more news for Veritas Pharma at: http://www.marketnewsupdates.com/news/vrt.html
Opioids are substances that are derived from the opium poppy plant. They bind to the human body's own opioid receptors to provide pain relief or 'analgesia' for patients with acute or chronic pain when prescribed legally; morphine is an example opioid analgesic. Use of these drugs for a brief time is considered safe for pain management. However, when they are overprescribed and/or frequently misused, they produce a sense of euphoria along with relieving pain. Hence, drug dependence can occur despite using them as prescribed over prolonged periods with the potential of fatal overdose. Opioid overdose contributed to more than 33,000 deaths in 2015 according to US Centers for Disease Control and Prevention. Heroin and fentanyl are the most widely known opioids for their illegal, recreational use, abuse potential and fatal overdoses. Cannabis contains substances called cannabinoids that appear to bind to human body's own cannabinoid receptors to also produce similar effects to those of the body's opioids in mediating analgesia and behavioral effects. However, they do not have the same drug dependence or overdose potential. When cannabinoids and opioids are combined, they appear to augment each other's effects synergistically. Therefore, the combination may allow for opioids to be used at lower doses with fewer side effects for the treatment of pain and related addiction. According Coherent Market Insights*, the global opioids market was approximately USD $17b in 2015 and is forecasted to moderately increase to near USD $26 bn in 2024. It indicates that legal cannabis is expected to impact the opioids market growth as it gets adopted as a safe alternative pain relieving therapy to opioids and it is increasingly being used to address related addiction. According to the World Drug Report 2016, approximately 17 million people suffered from opioid drug abuse.
Veritas CEO, Dr. Lui Franciosi stated, "We are pleased with Cannevert's latest submission to protect its discovery of a cannabis strain that could potentially reduce the dose and side effects of clinically used opioids while maintaining a good pain relieving effect for patients." Dr. Franciosi goes on to say, "This strain could be also potentially useful in addressing the current fentanyl crisis throughout North America. If we're targeting pain or opioid addiction, we want to deliver a scientifically tested, standardized product that clinicians can rely upon."Also, to note, the Company will be issuing 1.1 million stock options based on today's closing price of CAN$0.81 cents.
In other industry developments and market performances of note:
Canopy Growth Corporation (TSX: WEED.TO) (OTC: TWMJF) is continuing to develop its hemp operations. It has entered into a definitive agreement to acquire certain assets and intellectual property from Green Hemp Industries Ltd. and its principal, Jason Green. Mr. Green is a veteran hemp farm operator based in Saskatchewan. The transaction marks a major milestone in Canopy Growth's hemp business and is expected to enhance Canopy Growth's vertically integrated field-scale hemp production capabilities. In addition to acquiring Green's farm operations and associated assets, equipment, genetic stock, and other property, Canopy Growth will operate approximately 300 acres of existing hemp production after completion of the transaction, which it anticipates will be scalable to 2,200 acres for the 2018 growing season.
Aphria Inc. (TSX: APH.TO) (OTCQB: APHQF) has achieved another milestone as part of its expansion strategy, obtaining its dealer's license pursuant to the Controlled Drugs and Substances Act under Health Canada. This permits the company to possess, sell and transport medical cannabis oil and resin to international markets. "There is an incredible appetite for high-quality medical cannabis in legal markets around the world. Obtaining our dealer's license is a significant milestone in our international expansion strategy as it enables Aphria to have greater control over importing and exporting medical cannabis oil globally," said Vic Neufeld, Chief Executive Officer of Aphria. "This license will accelerate our speed to international markets and broaden our patient base internationally, resulting in greater revenue for Aphria."
Aurora Cannabis Inc. (TSX: ACB.TO) (OTCQX: ACBFF) wholly owned subsidiary BC Northern Lights (BCNL) and Namaste Technologies Inc. have signed a hardware supply agreement whereby Namaste will be the first third party distributor to sell BCNL's premium home cultivation systems and accessories through its on-line technology platform. Namaste will roll out same-day delivery service of select BCNL products to the Greater Toronto Area (GTA), as well as next-day delivery in most other parts of Canada, to help meet the growth in demand for home gardening systems anticipated with the passing of the federal Cannabis Act to legalize adult consumer use, as well as continued rapid growth of the medical cannabis market.
Isodiol International Inc. (CSE: ISOL.CN) (OTCQB: ISOLF) recently announced it has entered into a binding agreement to acquire 100% of C3 Global Biosciences (C3GBS), a cause driven organization committed to developing sustainable health solutions through the advancement of cannabis science. "Isodiol and C3GBS are truly complementary. We look forward to bringing the C3GBS brand and world class team onboard to pursue the shared vision of providing consumers with the highest quality of bioactive CBD products," said Marcos Agramont, CEO of Isodiol. "By combining the two companies, we can align our efforts strategically to further strengthen our portfolio of assets. This partnership will be aimed at increasing market expertise as we establish both companies as leaders in the CBD market."
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