LOS ANGELES, CA–(Marketwired – Aug 17, 2016) – Vitality Biopharma, Inc. (OTCQB: VBIO) (“Vitality” or the “Company”), a corporation dedicated to the development of cannabinoid prodrug pharmaceuticals, and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders, is pleased to announce that effective immediately, its common stock now trades …
Trading of the company’s stock under the new symbol represents the completion of the company’s transition to Vitality Biopharma, and is reflective of the new company’s mission and focus on the treatment of serious neurological and inflammatory conditions.
Since 2012, the Company has developed a unique capability for production of molecules through glycosylation, a form of enzymatic biosynthesis, which was originally developed to improve the taste of stevia, a high-potency sweetener. As most pharmaceutical companies are focused on chemical synthesis methods rather than enzymatic biosynthesis for the generation of new compounds, the platform is well suited for the discovery of new pharmaceutical products. In late 2015, the Company successfully modified cannabidiol (“CBD”), which is not psychoactive, and in ongoing work has created a novel class of pharmaceuticals known as cannabosides.
Cannabosides may be delivered within a convenient oral drug formulation, and they are prodrugs, where upon ingestion they enable the site-specific delivery and release of cannabinoids like CBD or THC to the gastrointestinal tract. Site-specific delivery could enable more potent therapeutic effects while reducing or eliminating the delivery of psychoactive THC to the brain. The Company is currently developing a cannaboside drug candidate for treatment of inflammatory bowel disease. Approximately 1.4 million Americans are affected by inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis. Most patients are diagnosed before age 30 and require life-long treatment.
Along with the ticker symbol change, a new CUSIP number of 92849B107 has been assigned to the Company’s common stock. Outstanding stock certificates for shares of the Company’s common stock are not affected by the name change; they continue to be valid and need not be exchanged.
About Vitality Biopharma (OTCQB: VBIO)
Vitality Biopharma is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. For more information, visit: www.vitality.bio. Follow us on Facebook, Twitter and LinkedIn.
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