PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PPRVCF) told investors Monday that the cannabis product required for its coronavirus-targeting sol-gel nasal formation was received for development and testing by Pharmacy Australia Centre of Excellence (PACE) at the University of Queensland (UQ) on July 8.
The group's technology works by infusing cannabis extracts into water-based sol-gels, which are delivered using a nasal spray applicator. PreveCeutical believes that such a formation could possibly reduce side effects from, reduce contraction rates or even prevent infection from the coronavirus.
Compared to traditional nasal sprays, sol-gels provide sustained delivery and therapeutic effects; reduced dosages due to higher bioavailability; and reduced irritation and other negative side effects. Achieving those aims is crucial ahead of any vaccines being commercialized, the company said.
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"We are very pleased with the speed in which we were able to procure the appropriate cannabis product delivered, which was made through our relationships in Australia,” PreveCeutical CEO Stephen Van Deventer said in a statement. “Having the appropriate cannabis product in hand will allow us to develop and test the cannabinoid sol-gel formulation leading to pre-clinical trials, clinical trials and possible commercialization of the cannabinoid sol-gel formulation."
PreveCeutical stressed that it was not making any express or implied claims at this point that its product has the ability to eliminate, cure or contain the coronavirus.
PreveCeutical, based in Vancouver, is also advancing non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone, and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).
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