Acquisition Includes IP Related to its Lead Compound, Epidiferphane™, Used to Attenuate the Negative Side Effects of Chemotherapy and Slow Tumor Progression
DENVER, CO / ACCESSWIRE / July 20, 2017 / United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United Cannabis"), a biotechnology company dedicated to the development of phyto-therapeutic based products, today announced the acquisition of a majority share of Prana Therapeutics, Inc. ("PTI"), a clinical stage biotechnology company developing Polymolecular Botanical therapeutics for the oncology, neurology, and orthopedic markets.
Prana Therapeutics is a biotech company focused on developing targeted therapeutics for prevention of the negative side effects of chemotherapy, management of rheumatoid arthritis, and treatment of brain cancer. PTI's approach to drug development reflects the recognition that most diseases have multiple causes and require therapeutics that target multiple mechanisms. With the aid of disease-specific screens, PTI has identified unique combinations of botanical extracts to target the mechanisms of initiation and progression of these diseases.
PTI's flagship product is Epidiferphane™, a proprietary formulation composed of three botanical extracts, that has demonstrated efficacy at preventing and treating several conditions and disease indications, including:
- The Negative Side Effects Of Chemotherapy
An estimated 650,000 patients undergo chemotherapy each year, in the US alone, at a cost of approximately $12 billion. Although there are several protocols to minimize the side effects associated with chemotherapy, there is currently no protocol that prevents these symptoms. Preclinical data have shown Epidiferphane to be effective in preventing Anemia (low red blood cells), Neutropenia (low white blood cells), attenuating Chemotherapy Induced Peripheral Neuropathy, and protecting the endogenous neural stem cell population that is associated with Chemofog (memory problems). These negative side effects reduce quality of life, can be life threatening and result in dose reductions and treatment delays, both which reduce the efficacy of chemotherapy.
At least one of these conditions is experienced by 90% of patients going through chemotherapy.
- Inflammatory Disease
Approximately 150 million patients suffer from inflammation and pain associated with arthritis and back-centric conditions, spending in excess of $30 billion on treatments, many of which have significant side effects. Epidiferphane™, in combination with nutritional ketosis, reduces levels of cytokines that contribute to inflammatory diseases and in a small cohort of patients has been reported to reduce pain, morning stiffness and improve sleep.
- Brain Tumors
There are approximately 80,000 new brain cancer diagnoses in the US each year; Glioblastoma, the most common type, has a survival diagnosis of approximately 12 months. In pre-clinical rodent testing, Epidiferphane™, in conjunction with a nutritional ketosis, has been shown to double the mean life expectancy, increase the effectiveness of chemotherapy, and sensitize chemotherapy resistant tumors to standard of care drugs.
Earnest Blackmon, the Company's Chief Executive Officer, commented on the announcement, "At United Cannabis, our work in the development of cannabinoid therapeutics follows a conventional biopharmaceutical research and development model. Our acquisition of Prana Therapeutics broadens our foundation in plant-based drug development. Just as we utilize the compounds found in the cannabis plant to create our Prana Bio Medicinal products, Prana Therapeutics identifies novel combinations of botanical compounds to address unmet medical needs. Their principal drug, Epidiferphane™, is a leading example of how combinatorial targeting can be used to address complex and difficult-to-treat diseases.
Dr. Brent Reynolds, PTI's Chief Executive Officer, added, "The conditions that PTI focuses on are multifaceted with numerous mechanisms affecting their progression. One of the contributing factors to the poor success rate of traditional drug development is the focus on single mechanisms and individual drugs, which do not take into account the redundancy that exists in the complex interplay of disease development and progression. We have dedicated our research efforts to developing combinatorial drugs that target multiple mechanisms and focus on using botanical compounds that have a high established safety profile. Epidiferphane™ is a first generation Polymolecular Botanical Drug and has applications in a number of disease fields. Our relationship with United Cannabis will allow us to expand our clinical program and identify new products that may combine the expertise of our two companies."
"The preliminary clinical results on Epidiferphane™ have been very encouraging and we will dedicate our full resources to moving the technology from pre-clinical to clinical testing, by submitting an Investigational New Drug application and moving down the rigorous FDA drug approval process. The goal will be filing a New Drug Application with the FDA," according to Blackmon.
PTI was founded in 2012 by scientists from the Department of Neurosurgery at the University of Florida based on technology developed by Drs. Brent Reynolds and Loic Deleyrolle. Multiple patents have been filed by the University of Florida centered around composition of matter and uses of Epidiferphane™ for treating cancer, attenuating the negative side effects of cancer treatments and managing inflammatory diseases. These patents were exclusively licensed to PTI in 2017.
Under the terms of the Agreement, United Cannabis has acquired a majority ownership in PTI by exchanging newly issued shares of the Company's common stock. PTI will continue to operate independently.
About Prana Therapeutics, Inc.
Prana Therapeutics, Inc. is a clinical stage drug company developing polymolecular therapeutics for the oncology, neurology, and orthopedic markets. The company's intellectual property foundation is based on discoveries made by University of Florida scientists, Drs. Brent Reynolds and Loic Deleyrolle.
About Dr. Brent Reynolds
Dr. Reynolds received his PhD from the University of Calgary, where he co-discovered the existence of stem cells in the adult mammalian brain, a finding that challenged and overcame a century old dogma that the mature brain did not have the capacity to repair itself. After graduating, Dr. Reynolds co-founded the world's first neural stem cell company, NeuroSpheres, LTD, where he developed a patent portfolio and protocols related to the application of neural stem cells to treating disorders of the central nervous system. This technology is in the clinical testing phase for childhood disorders, spinal cord injury, stroke, Macular Degeneration, and ALS. Dr. Reynolds is a Professor in the Department of Neurosurgery at the University of Florida, College of Medicine. His lab focuses on the application of natural products for treating diseases and dysfunction of the nervous system.
About Dr. Loic P. Deleyrolle
Dr. Loic Deleyrolle received his PhD degree in Neurobiology in 2006 from the University of Montpellier (France), where he studied the molecular pathways regulating proliferation and differentiation of spinal cord stem, and progenitor cells. He then joined Dr. Brent Reynolds' laboratory as a postdoctoral research associate at the Queensland Brain Institute of the University of Queensland (Australia) until 2008, and subsequently moved with the lab to the McKnight Brain Institute at the University of Florida. Dr. Deleyrolle is an Assistant Professor in the Department of Neurosurgery at the University of Florida, where his research is focused on investigating the key cellular, molecular, and genetic mechanisms underlying brain tumor heterogeneity and therapy resistance.
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company is a pioneer in the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. The Company's products are patent protected, first in class medicines with applications to a global market. United Cannabis trades on the OTCQB under the symbol CNAB.
For further information, please visit www.unitedcannabis.us.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors, created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE: United Cannabis Corporation