HydRx Farms Ltd. (o/a Scientus Pharma) (“Scientus” or the “Company”), a biopharmaceutical company conducting research and product development for extracts and formulations related to medical cannabinoids and their derivatives, today provided an update on its collaboration with Generex Biotechnology Corporation (OTCQB:GNBT) (“Generex”), whereby the companies are co-developing products for the delivery of cannabinoids via the buccal mucosa (the inner lining of the mouth).
Having recently received Health Canada authorization to produce cannabis softgel capsules and oils at its state-of-the-art, 45,000 Sq. Ft. commercial production facility in Whitby, Ontario, the Company will turn its focus towards the final development of a buccal cannabis spray using Generex’s RapidMist™ technology.
“The ability to produce through our proprietary extraction and activation method an intermediary resin that is >99% activated for THC and CBD allows us to provide cannabis APIs at scale that can be incorporated into a variety of delivery methods, such as buccal spray, that were previously challenged by suboptimal potency and/or bioavailability,” said Har Grover, Chairman and CEO of Scientus. “Our collaboration with Generex provides access to the drug delivery technology that will enable development of an effective cannabis buccal spray. This route of administration is an attractive alternative to patients who have concerns about inhaling or eating medical cannabis, but still want its full therapeutic benefit.”
“The RapidMist Buccal Delivery System from Generex is perfectly suited to the formulation and administration of cannabinoids for therapeutic benefit,” said Joe Moscato, CEO of Generex. “THC and CBD ratios can be formulated specifically for therapeutic indications to achieve optimal benefit, and the device provides a consistent, reliable metered dose to ensure proper use. Patients will be satisfied with the ease of use and reliability of effect of the RapidMist Cannabis product line.”
About the Scientus Pharma/Generex Collaboration
In September 2015, CannScience Innovations Inc., one of Scientus’ predecessor companies, finalized a binding co-development and technology licensing agreement with Generex. Pursuant to the agreement, Generex has licensed its proprietary RapidMist™ drug delivery platform technologies to Scientus for the co-development of products for the buccal delivery of cannabinoids and cannabinoid-derived products. Generex has also granted Scientus an exclusive, worldwide license to commercialize such products in exchange for royalty payments. Generex and Scientus will co-own the intellectual property created by the co-development effort.
About Scientus Pharma’s Production
The cannabis plant is highly complex with more than 500 compounds. Although many growers have developed standardized cultivation methods to reduce variation between harvests, more precision is required to reduce or eliminate this variation and align with the high standards of the pharmaceutical and consumer products industries.
Scientus Pharma has developed a proprietary method for the extraction and activation of API from the cannabis plant. This method provides the chemical and biological quality control appropriate for pharmaceutical grade product lines, resulting in an intermediary resin that can be used in a range of dosing forms.
About Generex Biotechnology Corporation
Generex is a strategic, diversified healthcare holdings company with offerings in a variety of services, diagnostics, medical devices, and pharmaceutical development. The Company’s direct-to-patient services support its strategy of all-inclusive access to doctors, diagnostics, therapeutics, and additional health-related services to greatly improve the patient experience in receiving care. On the provider side, Generex’s management services remove administrative burdens in multiple provider settings, including private practice and hospital, allowing doctors to devote more time to patient care. Revenue from the Company’s subsidiaries will support clinical advancement of its wholly owned therapeutic products with a focus in immunotherapeutics based on stimulating critical members of the immune response, known as T helper cells, and its proprietary buccal administration of insulin.
About Scientus Pharma Inc.
Scientus is a vertically-integrated biopharmaceutical Licensed Producer and Licensed Dealer under the Narcotics Control Regulations of Canada who conducts scientific research on cannabinoids with a focus on developing and commercializing pharmaceutical-grade cannabinoid derivative products. Being one of a limited number of Licensed Dealers in Canada authorized to handle and conduct cannabinoid products, Scientus has the ability to wholesale, buy, process and sell cannabinoid derivatives, from and to other Licensed Producers, as well as international markets. Scientus is also a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
This new release includes forward-looking statements regarding the Company and its business. Such statements are based on the current expectations and views of future events of the Company’s management. In some cases, the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Forward-looking statements in this press release include the Company’s development of a buccal cannabis product. No forward-looking statement can be guaranteed. In addition, certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information or statements. Except as required by applicable securities laws, forward-looking statements or information speak only as of the date on which they are made, and the Company does not undertake any obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events, or otherwise.
Chairman and CEO