TORONTO, Oct. 15, 2018 /PRNewswire/ - Cronos Group Inc.
(NASDAQ: CRON) (TSX: CRON) ("Cronos Group" or the
"Company"), announced today that it has entered into a
sponsored research agreement with the Technion Research and
Development Foundation of the Technion - Israel Institute of
Technology ("Technion") to explore the use of cannabinoids
and their role in regulating skin health and skin disorders. The
preclinical studies will be conducted by Technion over a three-year
period and will focus on three skin conditions: acne, psoriasis and
skin repair.
Research will be led by Technion faculty members Dr.
David "Dedi" Meiri, Head, Laboratory
of Cancer Biology and Cannabinoid Research and Dr. Yaron Fuchs, Head, Laboratory of Cancer Biology
and Cannabinoid Research, two of the world's leading researchers in
cannabis and skin stem cell research, respectively. Dr. Meiri heads
the Laboratory of Cannabis and Cancer Research with vast experience
in cannabis and endocannabinoid research. Dr. Fuchs heads the
Laboratory of Stem Cell Biology and Regenerative Medicine with
years of experience in the biology of the skin and its pathologies.
Development and implementation of the research will be conducted at
Technion's Laboratory of Cancer Biology and Cannabis Research and
the Lorry I. Lokey Interdisciplinary Center of Life Sciences and
Engineering in Haifa, Israel.
"We believe that the potential applications of cannabinoids to
regulate skin health and treat skin disorders are vast, and we are
excited to begin exploring these applications through our
partnership with Technion," said Mike
Gorenstein, CEO of Cronos Group. "Using rigorous data to
develop efficacious topical and transdermal formulations will be
key to creating differentiated products that provide quality
treatments to our consumers and strengthen our brand
portfolio."
The endocannabinoid system and the cannabinoids that modulate
its activity are believed to have an important role in regulating
skin health and skin disorders. The research will utilize Dr.
Meiri's cannabis strain database of over 80 cultivars and Cronos
Group's strain specific cannabis oils to isolate and
investigate the effects of individual and combinations of
cannabinoids, potentially including rare cannabinoids, for treating
acne, psoriasis and wounds using stem cell-derived organoid
cultures developed by Dr. Fuchs' laboratory and mouse models.
Cronos Group expects to be able to adapt the individual and
combinations of cannabinoids to develop products for each of these
three applications and expects to receive an exclusive, worldwide
license to market and manufacture such products.
"We are pleased to partner with Cronos Group on this
groundbreaking cannabinoid research," said Dr. Fuchs. "Using
our state of the art technology, we hope to unlock the vast
therapeutic potential of cannabinoid formulations for treating skin
disorders."
"We are thrilled to begin this joint research with Dr. Meiri and
Dr. Fuchs, who are among the most respected researchers in their
fields," said David Hsu, COO of
Cronos Group. "Dr. Meiri's extensive cannabis strain database and
capabilities in analytical testing provide a strong foundation for
researching Dr. Fuch's world renowned stem cell organoids. Dr.
Meiri and Dr. Fuchs' expertise coupled with Cronos Group's
competencies in the cannabis industry make us optimistic about the
future opportunities from this collaboration."
Dedi Meiri, Ph.D., Head,
Laboratory of Cancer Biology and Cannabinoid Research,
Technion
David Meiri, Ph.D.,
is an Associate Professor at the Faculty of Biology at Technion and
a member of the Technion Integrated Cancer Center (TICC). Dr. Meiri
holds a M.Sc. in Biochemistry and a Ph.D. in plant biotechnology
from Tel Aviv University. He conducted
his post-doctoral fellowship at the Ontario Cancer Institute where
he focused on tumor invasion and metastasis. During his
post-doctoral studies, he expanded his knowledge in human biology
and cancer pathogenesis and gained worldwide recognition as an
expert in the fields of G-protein coupled receptors, small GTPases
and cytoskeleton. Upon completion of his post-doctoral fellowship,
Dr Meiri took a position at Technion, where he heads the Laboratory
of Cancer Biology and Cannabinoid Research. Presently, his
laboratory investigates the therapeutic potential of
phytocannabinoids, with focuses on the antitumor effects of
cannabinoids. In addition to the cannabis research performed
on-site at his laboratory, Dr. Meiri collaborates with cannabis
growers, clinicians, major manufacturers and distributors of
medical cannabis for the purpose of revolutionizing cannabis
treatment. He is operating the Cannabis Database Project and his
laboratory is currently involved in eight clinical trials covering
diverse aspects of cannabis treatment such as colon disease, pain
prevention, cancer treatment and epilepsy.
Yaron Fuchs, Ph.D., Head,
Laboratory of Stem Cell Biology and Regenerative Medicine,
Technion
Yaron Fuchs, Ph.D.,
is an Assistant Professor in the Lokey Interdisciplinary Center for
Life Sciences & Engineering and the Faculty of Biology and the
TICC. Dr. Fuchs is also a Deloro Career Advancement Chair and an
Alon Fellow. He began his academic career at Haifa University where he received a B.Sc.,
followed by a direct Ph.D. track for outstanding students, which
was conducted at Technion. Upon completion of his doctorate degree,
he performed his post-doctoral research at The
Rockefeller University and Howard Hughes Medical Institute.
Recently, he returned to Technion where he heads the Laboratory of
Stem Cell Biology and Regenerative Medicine. Dr. Fuchs has had a
long-term interest in different modes of cell death and how they
regulate diverse aspects of stem cell biology and stem
cell-dependent processes. His research has taken advantage of
state of the art mouse models where he manipulates and traces
different stem cell populations. Throughout his career, Dr. Fuchs
has received more than 20 awards for his scientific excellence and
his unique teaching style. He has published in leading scientific
journals and has spoken nationally and internationally about his
research focusing on adult stem cells in regeneration and
cancer.
About Cronos Group
Cronos Group is a globally
diversified and vertically integrated cannabis company with a
presence across five continents. Cronos Group operates two
wholly-owned Canadian licensed producers regulated under Health
Canada's Access to Cannabis for Medical Purposes Regulations:
Peace Naturals Project Inc., which was the first non-incumbent
medical cannabis license granted by Health Canada, and Original BC
Ltd., which is based in the Okanagan Valley, British Columbia.
Cronos Group has multiple international production and distribution
platforms across five continents. Cronos Group intends to continue
to rapidly expand its global footprint as it focuses on building an
international iconic brand portfolio and developing disruptive
intellectual property. Cronos Group is committed to building
industry leading companies that transform the perception of
cannabis and responsibly elevate the consumer experience.
About Technion - Israel Institute of Technology
Founded in 1912, Technion is Israel's first university. Technion is
acclaimed as the source of ingenuity behind Israel's status as the world's "Start-Up
Nation". Technion's innovation has a high global impact in areas
including life-saving medicine, sustainable energy, water
conservation, computer science, and nanotechnology. Technion, with
18 faculties and more than 50 research centers, offers degrees in
science and engineering, architecture, medicine, industrial
management, and education. To date, it has awarded over 100,000
degrees. Its faculty numbers some 550 members, including three
Nobel laureates, and it has an international reach that includes
the Jacobs Technion–Cornell Institute in New York City, and the Guangdong
Technion–Israel Institute of Technology in China.
Forward-looking statements
This news release contains
"forward-looking information" and "forward-looking statements"
within the meaning of applicable Canadian and U.S. securities laws.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. In some cases,
forward-looking statements can be identified by words or phrases
such as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms,
or other similar expressions intended to identify forward-looking
statements. Some of the forward-looking statements contained in
this press release include Cronos Group's expectations regarding
the potential success of, and the costs and benefits associated
with the research collaboration with Technion, the definitive
license terms to be agreed between the two parties, the potential
therapeutic or beneficial effects of cannabis and cannabinoids on
skin health and skin disorders including acne, psoriasis and skin
repair, the ability of Cronos Group to develop products based on
cannabinoids found to have an effect on acne, psoriasis and skin
repair, the ability of Cronos Group to use or commercialize any
intellectual property developed from this research collaboration,
as well as the Cronos Group's intention to continue to rapidly
expand its global footprint, build an international iconic brand
portfolio and develop disruptive intellectual property.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic and competitive risks, uncertainties and contingencies
that may cause actual financial results, performance or
achievements to be materially different from the estimated future
results, performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are
not guarantees of future performance. A discussion of some of the
material risks applicable to Cronos Group can be found in its
current MD&A and Annual Information Form, both of which have
been filed on SEDAR and can be accessed at www.sedar.com. The
forward-looking information included in this news release is made
as of the date of this news release and, except as required by law,
Cronos Group disclaims any obligation to update or revise any
forward-looking statements. Readers are cautioned not to put undue
reliance on these forward-looking statements.
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SOURCE Cronos Group Inc.