ICC Labs Announces New Initiative to Conduct Various Scientific and Medicinal Research Activities
April 05 2018 - 8:13AM
ICC Labs Inc. (“
ICC Labs” or the
“
Company”) (TSX-V:ICC) (Frankfurt:2Q9) is pleased
to announce that it and one of its Uruguayan subsidiaries have
entered into a framework collaboration agreement (the
“
Framework Agreement”) with the Pasteur Institute
of Montevideo, a Uruguayan foundation devoted to biomedical
research.
In accordance with the Framework Agreement, ICC
Labs will provide the Pasteur Institute with various cannabinoid
extracts and the Pasteur Institute will conduct scientific and
medicinal research programs (the “Research
Programs”). Each Research Program will be subject to
regulatory approval and to further definitive agreements that will
define the specific contributions of the parties. Under the
Framework Agreement, the Research Program will be managed by a
steering committee consisting of two representatives of ICC Labs
and two representatives of the Pasteur Institute. It is the intent
of the parties that the results of the Research Program, whether
patentable or not, will be owned solely by ICC Labs. Any inventions
that occur incidental to the Research Program will be subject to a
co-ownership agreement between the parties.
In addition to the above, ICC Labs is pleased to
announce its first Research Program with the Pasteur Institute.
Over a period of two years, ICC Labs will provide US$400,000 in
funding and three phytocannabinoid extracts to the Research Program
and the Pasteur Institute will conduct various scientific and
medicinal research activities designed to ascertain potential
effects of the phytocannabinoids on immune response,
neuroprotection and intestinal microbiota.
Alejandro Antalich, the CEO of ICC Labs,
commented: “We are very committed to this framework for the
development of pharmaceutical products, and the related impact on
the scientific community. With this first step we are seeking to
innovate in the use of new medicines applied to different clinical
pathologies, and to generate and making available to the global
health community the necessary tools for proper medical
prescriptions related to cannabinoids. We are excited by the search
for new solutions for a better quality of life, and to reduce the
suffering caused by different diseases and the side effects of the
treatments used to combat them.”
ABOUT ICC LABS INC.
ICC Labs is a fully licensed producer and
distributor of medicinal cannabinoid extracts, recreational
cannabis and industrial hemp products in Uruguay as well as a fully
licensed producer of medicinal cannabis in Colombia. The Company
has active operations in Uruguay, and is focused on becoming the
worldwide leading producer of cannabinoids extracts, giving support
and promoting the responsible use for medicinal purposes, backed by
scientific research and innovation, while following strict
compliance and the highest standards for quality and safety.
For more information, please visit
www.icclabs.com.
Contact:ICC Labs Inc.Alejandro Antalich, Chief
Executive Officer t: 598-2900-0000e: ir@icclabs.com
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TSX-V) accepts responsibility for the adequacy or accuracy of this
release.
Certain statements in this press release
constitute forward-looking information. All statements other than
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including, without limitation, those regarding the Company’s future
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results may differ materially from what is expressed, implied or
forecasted in such forward-looking statements.
Additional factors that could cause actual
results, performance or achievements to differ materially include,
but are not limited to: receipt of the requisite regulatory
approvals required to complete the Research Programs and the
ownership of any intellectual property related thereto. Additional
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Company’s filings with Canadian securities regulators, and
available at www.sedar.com. Management provides forward-looking
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developments will be realized or, even if substantially realized,
that they will have the expected consequences to, or effects on,
the Company. These forward-looking statements are made as of the
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