Toronto, Canada, June 13, 2018 – WeedMD Inc. (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) (“WeedMD”), a federally-licensed producer and distributor of medical cannabis, and Revive Therapeutics Ltd. (TSX-V:RVV) (OTCQB:RVVTF) (FSE:31R) (“Revive”), a company focused on the research, development and commercialization of novel cannabinoid-based therapies, are pleased to announce they have entered into medical cannabis research and development supply and collaboration agreements (the “Agreements”).
Under the Agreements, WeedMD will supply Revive with cannabidiol (“CBD”) for the research program evaluating CBD in the treatment of liver disease, specifically non-alcoholic steatohepatitis (“NASH”) and autoimmune hepatitis (“AIH”). Working alongside Revive, WeedMD will support the research, development and potential commercialization of CBD in the treatment of liver disease. Additionally, Revive and WeedMD will identify opportunities for developing and commercializing medical cannabis products and therapies for potential collaboration in other treatments.
“The relationship with WeedMD represents a significant milestone for Revive as we have secured a strategic supply of medical-grade CBD for our research, development and commercialization efforts for liver diseases,” said Fabio Chianelli, President of Revive. “With WeedMD’s commitment to the research, development and commercialization of medical grade cannabis, they are the ideal strategic partner for Revive to accelerate the execution of our business plan in commercializing novel cannabinoid-based therapies and to validate our commercial development efforts in the medical cannabis market.”
“WeedMD continues to push ahead with its research and development initiatives, both independently and with research institutions to accelerate cannabinoid applications and delivery system innovations, in addition to collecting valuable data about strains and their effects,” said Dr. Luc Duchesne, Chief Scientific Officer of WeedMD. “Both WeedMD and Revive are making advances as participants in the pharmaceutical cannabis market which begins with the validation of new products and innovations through clinical-evidence and the establishment of intellectual property.”
Having recently secured the intellectual property for its own delivery systems, Revive has assembled a diversified pipeline of pharmaceutical, prescription, and over the counter (OTC) products and together with WeedMD, they will evaluate the efficacy of CBD in the treatment of NASH and AIH, in addition to other potential indications in the future.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV)(OTCQB:RVVTF) is focused on the research, development and commercialization of novel cannabinoid-based therapies. Additional information on Revive is available at www.ReviveThera.com.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis and oils under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company operates a 26,000 sq. ft. indoor facility in Aylmer, Ontario, and a second cultivation site at its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. WeedMD is focused on providing medical cannabis to the seniors’ markets in Canada through its proprietary seniors care program. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays – including as it pertains to regulatory requirements, indications and potential side effects.
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For further information, please contact:
Keith Merker, Chief Financial Officer
Tel: 519-765-2440 Ext. 222
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Revive Therapeutics Ltd.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of WeedMD to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to our expectations with respect to: the timing and outcome of the merger with Hiku; and, planned cannabis production capacity of WeedMD. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. WeedMD does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
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