Ceapro Inc. Receives Research License from Health Canada Controlled Substances and Cannabis Branch
Pioneering the second wave of medical cannabis through the development of unique delivery systems using its PGX technology
EDMONTON, Alberta, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced it has received special authorization from Health Canada to initiate a research program entitled “Impregnation of Water-Soluble Biopolymers with Cannabis Extracts Using the Pressurized Gas eXpanded (PGX) Technology and Formulation of Solid Cannabinoid Delivery Systems: Oral Thin Films and Transdermal Patches.”
Formulation studies will be conducted at Ceapro’s premises in Edmonton while bioavailability and pharmacokinetics studies will be performed by a Montreal-based licensed partner.
“This is a significant moment in Ceapro’s history. We have been working for the last three years on the development of unique delivery systems using our disruptive PGX technology for multiple applications,” commented Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro. “Today, given the growing body of evidence that the potential for cannabis lies with its medicinal properties and given that the low oral bioavailability of cannabinoids has prompted the development of various methods of administration, we are confident that our unique PGX technology might be a solution to overcome absorption limitations or improve current marketed formulations. By utilizing our PGX technology, we believe we will be able to create a formulation that brings cannabis in a ‘faster to the blood the better’ way with the lowest dose that will provide the most benefits to the patients, as well as offer the best side effect profile.”
“Our Juvente line of products will also be assessed as a way to deeply deliver cannabinoids to the skin for pain management, for alleviation of anxiety and sleep disorders to name a few applications. Additionally, we have developed sublingual thin films, dermal patches and creams using polymeric carriers that should suit that purpose. Of particular interest, we hope that the use of our formulated dermal patches will be efficacious as an alternate form of treatment to help alleviate dependency on other hard drugs that we are currently witnessing in this era of opioid crisis. We are committed to developing these formulations for medical use only for the benefits of patients and all while creating value to our shareholders,” concluded Mr. Gagnon.
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.
For more information contact:
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
Gilles R. Gagnon, M.Sc., MBA
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Released February 14, 2020