Veritas Announces New Subsidiary in Puerto Rico

Veritas Pharma (CSE:VRT; OTC:VRTHF) announced the establishment of its new subsidiary Veritas Pharma Puerto Rico for the development of cannabis-based therapies.

As quoted in the press release:

With the management and regulatory guidance of Essèntium Group LLC, Veritas PR establishes a foothold for the scientific investigation, product development and commercialization of cannabis-based therapies in Puerto Rico and throughout Latin America.

Veritas PR will commence the upcoming human trials of Cannevert Therapeutics Ltd.’s (“CTL”) lead cannabis strain, CTL-X. The trials are being conducted by Fundación de Investigación (“FDI”) Clinical Research facilities in San Juan, Puerto Rico. 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 subjects who will be exposed to various modalities of acute pain. The Institute for Medical Cannabis (“IMC”) Corporation of Puerto Rico will prepare and supply the CTL-X and placebo for the upcoming studies.

Veritas CEO, Dr. Lui Franciosi stated, “We are pleased with our partnerships in Puerto Rico, especially with FDI and IMC. Both are reputable, scientifically-minded companies, who possess all the required licenses to conduct our collaborative activities in Puerto Rico. With their assistance, Veritas PR will aim to bring the Cannevert brand of evidence-based therapies to the Puerto Rican market.”

Click here to read the full press release.

Source: globenewswire.com