Breaking News: Veritas’ Research Arm Cannevert Therapeutics Signs Letter of Intent with Fundación de Investigación (FDI)to Begin Human Trials of Lead Cannabis Strain

Veritas Pharma Inc. (OTC: VRTHF) (CSE: VRT), (“Veritas” or the “Company”) announces that its research arm, Cannevert Therapeutics Ltd. (“CTL”) has signed a letter of intent with the Fundación de Investigación (FDI) in San Juan, Puerto Rico, to conduct the first human study of CTL-X, its lead cannabis strain targeting pain.

The study will be done in two stages to assess the analgesic effects of this lead strain. The first stage will have an open label design to look at the feasibility of two doses of CTL-X in 5 subjects while the second stage will use a randomized, double-blind, crossover design to assess one dose of CTL-X against a placebo control strain in 16 subjects who will be exposed to various modalities of acute pain.

Veritas’s CEO Lui Franciosi stated, “We are pleased to see Cannevert’s lead strain for pain is finally heading into human trials.  It’s important to us to move quickly into this next phase of providing clinical proof of cannabis’ effectiveness, this after our chemical and animal assays delivered favorable results.  FDI is a reputable group of clinicians and clinical trialists with a long history of evaluating treatments for major pharmaceutical companies. The Puerto Ricans are becoming world leaders in investigating and selling cGMP medical cannabis and their insights will be valuable.  We aim to provide physicians and patients with scientifically tested and clinically proven cannabis therapies targeting pain.  In the next year, Veritas’s goal is to have a branded analgesic strain in which its dose and method of administration are standardized to actively compete with over-the-counter analgesics as well as potentially reducing or eliminating opioid use in the acute and chronic pain markets.”

Puerto Rico is one of the world’s best known pharmaceutical production and development centers with a growing biotech presence.  Most of the biggest pharmaceutical companies have used this US territory as a manufacturing or outsourcing base due to its established infrastructure, highly skilled labour force, popular tax incentives, and immediate access to the US market.  Around 60% of Puerto Rico’s export value is pharma-related and over 25% of the country’s GDP comes from the pharma industry (Puerto Rico Report, 2017).  In 2015, the territory legalized the use of medical cannabis to treat at least 14 pre-approved conditions including pain, HIV, cancer, multiple sclerosis, migraines, anxiety and epilepsy.  According to the popular online magazine The Cannabist, there are nearly 9,000 Puerto Ricans who have paid $25 USD a year for a permit to use medical cannabis, 27 dispensaries, 11 grow facilities, five manufacturing centers and two laboratories responsible for analyzing all medical marijuana before it’s sold (The Cannabist, 2017).

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