Sign up USA
Proactive Investors - Run By Investors For Investors

PreveCeutical Medical boosted as major pot group Aurora set to export cannabis to Australia for its research programme

The material will be shipped from Canada by Aurora Cannabis and used for the drug delivery research programme.
cannabis plant
PreveCeutical aims to apply Sol-gel technology to cannabinoids to develop various therapies

Health sciences group PreveCeutical Medical Inc (CSE:PREV, OTCQB:PRVCF) has reached a major milestone for its Sol-Gel research programme - receiving permits to allow cannabis to be imported into Australia.

The  flower and oils will be shipped from Canada by major pot group Aurora Cannabis Inc  (TSE:ACB) and used for the group's drug delivery research programme.

"We are extremely excited to receive the permits, allowing us to further our Sol-gel research programme with the high quality cannabis products provided by Aurora," said Stephen Van Deventer, chief executive and chairman of the group.

"The goal of the programme is to cultivate a range of therapies that will benefit people with ailments such as epilepsy, pain and inflammation, safely and economically."

Three permits were granted by the Australian government, Department of Health. They were granted to the Pharmacy Australia Centre of Excellence (PACE) at the University of Queensland (UQ) .

The research is being conducted by PreveCeutical's research partner UniQuest Pty Inc and led by PreveCeutical's chief research officer Dr Harendra Parekh.

PreveCeutical aims to apply Sol-gel technology to cannabinoids to develop therapies for a range of symptoms, including pain, inflammation, seizures and neurological disorders.

The advantages of Sol-gels over conventional liquid nasal sprays include longer therapeutic effects, reduced dosages, and less irritation, the company noted.

For the shipment, Aurora has received certain rights, including the option to either license, on a non-exclusive basis, the technology for Canada and Australia, or to opt for a royalty arrangement on product sales, as well as to buy PreveCeutical shares.

"We see an important market for cannabis-based products that are more narrowly targeted at specific therapeutic areas but that are higher value add and being involved with initiatives such as PreveCeutical's is part of our strategy to gain access to these types of products," said Terry Booth, Aurora's chief executive.

Aurora operates a 55,200 sq ft state-of-the-art production facility in Mountain View County, Alberta, known as 'Aurora Mountain', and a second 40,000 sq ft high-technology production facility known as 'Aurora Vie' in Pointe-Claire, Quebec on Montreal's West Island.

In January this year,  Aurora's 800,000 square foot flagship cultivation facility, Aurora Sky, located at the Edmonton International Airport, was licensed.

Once at full capacity, this is expected to produce over 100,000 kg a year of cannabis.

View full PREV profile View Profile

PreveCeutical Medical Inc Timeline

Related Articles

nizoral shampoo
Tue
The new product will be the company's fourth international star brand
mri scanner
June 06 2018
It is actively supporting the hunt for breakthrough treatments for Alzheimer’s, Parkinson’s, Huntington’s and multiple sclerosis
test tubes in a laboratory
November 06 2017
“We are delighted that RedX has exited administration as a going concern and with a strengthened board and management team that will ensure enhanced oversight and provide relevant industry expertise as well as continuity to the business”

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use