BETHESDA, Maryland, Feb. 29, 2016 /PRNewswire/ — Cannabics Pharmaceuticals Inc. (CNBX) announced that it has placed its wholly owned subsidiary “Grin Ultra Ltd.” and all accompanying Intellectual Property rights into its public company.
The Intellectual Property involves the company’s IP filed with the USPTO entitled “A Method of in Vitro High Throughput Screening of Cancer Biopsies with Cannabinoid Extracts“. This system analyzes cancer cells taken directly from patient biopsies, and then tests them against a multitude of cannabinoid combinations for anti-tumor activity via the High Throughput Screening process. These natural extracts could also be tested in conjunction with already approved and common synthetic drugs for patients who undergo chemotherapy for the most personally tailored therapy. This multilayer method produces a large-scale database that will capture the knowledge gained as to the unique effects of different combinations of cannabinoid compounds on diverse malignancies.
Grin Ultra Ltd. is the Company’s wholly owned subsidiary created in 2014, and is specifically licensed by the Israeli Health Ministry for cannabinoid research, allowing the company unparalleled opportunities to conduct its cutting edge R&D.
Said Itamar Borochov, CEO: “We can now proceed forward with all our IP, Subsidiary and energies within the Company moving confidently ahead to our next goals. We also have found the right “fit” of institutional investors in Aloni-Haft Group, one of Israel’s largest global investment banks, which has brought together investors from the pharmaceutical and bio-tech industries who understand both our science and our vision for growth and upscaling through our next contemplated phases.”
About Cannabics Pharmaceuticals Inc.
Cannabics Pharmaceuticals (CNBX), a U.S based company, is dedicated to the development of palliative and personalized anti-cancer treatments. The Company’s scientific focus is on harnessing the therapeutic properties of natural cannabinoids. Cannabics’ vision is to create tailored therapies for cancer patients, utilizing advanced screening systems and bioinformatic tools. The Company’s R&D is based in Israel, where it is licensed by the Ministry of Health and involves both scientific and academic research as well as current medical clinical studies.
About Aloni-Haft Group:
Aloni-Haft Group, founded in 2005, is an innovative investment bank specializing in domestic and foreign IPOs, Mergers & Acquisitions, Private Placements, Debt Financing and Financial Management services. Aloni Haft has long-standing ties to all of Israel’s commercial banks as well as direct access to institutional lenders and private investors.
Certain statements contained in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects” and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on January 22nd, 2016. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time.