PAOG Cannabis Pharma Initiative Stands To Benefit From Senator Marco Rubio And Congresswoman Jenniffer González Colón New B...
August 11 2020 - 11:42AM
InvestorsHub NewsWire
PAOG Reveals Puerto Rico Cannabis Pharmaceutical Plans In Light
Of New Bill Introduced By Senator Marco Rubio And Congresswoman
Jenniffer González Colón
Sandusky, OH -- August 11, 2020 --
InvestorsHub NewsWire -- PAO Group, Inc. (USOTC:
PAOG)
today revealed the company's ongoing business development
initiative in Puerto Rico.
PAOG recently acquired cannabis pharmaceutical development
assets. Simultaneously the company initiated efforts in Puerto Rico
to partner with a Contract Research Organization (CRO) to advance
an Investigational New Drug Application (IND) to ultimately achieve
Food and Drug Administration (FDA) approval for PAOG's newly
acquired RespRx, a treatment for Chronic Obstructive Pulmonary
Disease (COPD).
The market for COPD treatment is anticipated to reach $14
billion by 2025.
Based on positive results from an informal trial of RexpRx with
25 COVID-19 patients, PAOG also plans to make Coronavirus Treatment
Acceleration Program (CTAP) application after entering into a CRO
agreement.
Congresswoman Jenniffer González Colón and Florida Senator Marco
Rubio introduced legislation last week to position Puerto Rico as a
national production center of medical equipment and drugs.
"The coronavirus pandemic has made it clear that we must rebuild
our national manufacturing capacity, especially in our medical
industry," Rubio said. "For too long, our manufacturing
capabilities have moved to China, impacting communities across our
country, including Puerto Rico, which was once home to a strong
manufacturing industry in the United States. I am proud to join
Congresswoman González-Colón in this vital effort to rebuild our
manufacturing capacity, especially in the economically marginalized
areas that were most affected by the COVID-19 pandemic."
The RespRx COPD biopharmaceutical technology is based on U.S.
Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING
HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT." PAGO's
RespRx COPD research and development has been submitted under
separate patent application and trademark.
An analyst report from Goldman Small Cap Research covering
PAOG's Cannabis Biopharmaceutical assets and business strategy is
anticipated later this week on Thursday, August 14, 2020.
In the interview, Mr. DiPrima confirms a recently published new
PAOG website and the coming publication of PAOG's financial
reports. He further confirms the company now has a revenue base
with the recent acquisition of a cannabis cultivation operation
from Puration, Inc. (PURA). Mr. DiPrima concludes the interview
with a discussion of why he believes the PPS is undervalued and
that he anticipates a PPS correction when the PAOG financials are
published.
www.paogroupinc.com
Forward-Looking Statements: Certain statements in this news release
may contain forward-looking information within the meaning of Rule
175 under the Securities Act of 1933 and Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor
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 actual results and future events could
differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. The Company undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release.
CONTACT INFORMATION
Contact Us:
Jim DiPrima
888-272-6472
info@pao.group
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