Veritas Offers Fiscal Q2 Corporate Update

Veritas Pharma (CSE:VRT; OTC:VRTHF) issued a corporate update to shareholders on the development of the company during the second quarter of its fiscal 2018.

As quoted in the press release:

Status of Human Trials
Earlier this year, Veritas Pharma’s subsidiary Cannevert Therapeutics (“CTL”) signed an agreement with Puerto Rico’s Fundación de Investigación (“FDI”) Clinical Research to perform trials of its lead cannabis strain, CTL-X, to target pain. The anticipated approvals were expected to come at the end of Q1 2018 with a potential start this Q2 2018. Challenges arose with the importation of placebo cannabis from a non-US supplier. The designated placebo is a cannabis plant material which resembles CTL-X both in appearance and scent but does not contain the active constituents that can potentially produce the therapeutic effects Cannevert scientists are currently sourcing a similar placebo, preferably locally within Puerto Rico. Once this task has been completed, the details of this material will be incorporated into the documentation for local regulatory review. The start of human trials is now anticipated in early Q3 2018.

Health Canada Dealer Licence
In late 2017, Health Canada issued CTL a dealer licence (no. 2018/6970) under its Section 9.2 of the Narcotic Control Regulations (“NCR”). This license enables CTL to possess, produce, analyze, sale, send, transport, and deliver cannabis, hemp and related products and enables CTL to be a commercial service provider of chemistry and biological testing services for licensed producers. Since then, Veritas and CTL have been searching for potential therapeutic cannabis strains in various parts of the World to import for further testing. CTL has been also preparing to update its license to enable it to package its propriety cannabis products.

Click here to read the full press release.

Source: globenewswire.com