There’s growing buzz with medical CBD, and the potential for further acquisitions. Just over the last week, Jazz Pharmaceuticals announced it would acquire GW Pharmaceuticals to help strengthen its neuroscience business with GWPH’s cannabis-based epilepsy treatment. Plus, Tilray Inc. (NASDAQ:TLRY) just announced a deal with Grow Pharma to import and distribute medical cannabis products in the UK.
Helping even more, Senate Democrats could make cannabis reform a top priority in 2021. “We are committed to working together to put forward and advance comprehensive cannabis reform legislation that will not only turn the page on this chapter in American history, but also undo the devastating consequences of these discriminatory policies,” said Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ), as quoted by Marijuana Moment.
Also, Canopy Growth Corp. (TSX:WEED)(NASDAQ:CGC) just announced it could soon see profitability. “We are building a track record of winning in our core markets, while also accelerating our U.S. growth strategy with the momentum building behind the promising cannabis reform in the U.S.,” said Canopy Growth CEO David Klein said, as quoted by CNBC.
As the cannabis story continues to evolve, other top companies to watch include Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF), Aphria Inc. (NASDAQ:APHA)(TSX:APHA), and Jushi Holdings Inc. (CSE:JUSH)(OTC:JUSHF).
Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF) BREAKING NEWS: Revive Therapeutics Ltd., a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to provide a corporate update on its cannabinoid pharmaceuticals program specifically as it relates to the clinical development of Cannabidiol in the treatment of rare diseases and the Company’s novel drug delivery technology.
Revive has built a portfolio of U.S. Food and Drug Administration orphan drug designations for CBD that support the long-term potential of cannabinoid prescription medicines for rare diseases and disorders, which the Company believes has been validated by the FDA approval of the GW Pharmaceuticals plc EPIDIOLEX® product and the recently announced acquisition of GW Pharmaceuticals by Jazz Pharmaceuticals for $7.2 billion.
For its rare disease cannabinoid product pipeline, Revive was granted in the past by the FDA two orphan drug designations for CBD in the treatment of autoimmune hepatitis, a rare liver disease, and CBD in the prevention of ischemia and reperfusion injury resulting from solid organ transplantation, such as liver, kidney, heart and lung. Revive recently entered into a clinical trial agreement with The Trustees of Indiana University to develop and manage a proposed Phase 2 clinical study entitled, “Use of Cannabidiol as an adjunct therapy for difficult to treat autoimmune hepatitis.” TIU and the Company are in the process of completing the protocol and study documents for submission of a pre-Investigational New Drug meeting with the FDA. Upon the receipt of permission from the FDA to proceed with the study under an IND, the Company will proceed to evaluate a potential study with CBD for ischemia/reperfusion injury and other liver diseases.
There are over 100 described diseases of the liver affecting at least 30 million people alone in the U.S. A number of factors are driving the liver disease treatment market, which includes rapidly changing lifestyle patterns such as increasing alcohol consumption, unhealthy diets, and increasing prevalence of liver diseases. Liver diseases can result from injury to the liver caused by hepatitis C virus (HCV), hepatitis B virus (HBV), obesity, chronic excessive alcohol use or autoimmune diseases. Major drug categories used in the treatment of liver diseases includes anti-rejection drugs, vaccines, immunosuppressant, chemotherapy drugs and antiviral drugs. According to Allied Market Research, titled, "World Liver Disease Treatment Market – Opportunities and Forecast, 2014 - 2022", the global market for liver disease treatment is projected to reach approximately $19.5 billion by 2022.
As previously announced, the Company is developing its novel drug delivery technology for psychedelics and cannabinoids under a research agreement with the University of Wisconsin-Madison. This includes hydrogel formulations in combination with synthetic CBD which was evaluated in an anti-inflammatory preclinical model and successfully demonstrated a stable formulation with anti-inflammatory activity complementing the mode of action of CBD. The CBD hydrogel based on the delivery systems novel tannin-chitosan composite successfully demonstrated the control of synthetic CBD permeability through the simulated skin membrane, thus increasing the time for its availability and enabling the potential to be developed as a controlled or sustained release delivery system that may lead to single-dose treatments. The delivery technology shows potential to deliver both synthetic cannabinoids and natural extracts of cannabis in a potential number of ways such as topical gels, creams or ointments, oral or transdermal patches, and oral dosages.
The delivery technology is a natural, non-toxic, biodegradable and biocompatible composite that combines a tannin material, which is derived from a plant group having antibacterial, antifungal, antioxidant and wound healing properties, and a chitosan material, which is derived from the crustacean group having blood-clotting and antimicrobial properties. The delivery technology has rapid onset of action and controlled or sustained release potential capabilities and may allow to combine multiple cannabinoids or cannabis extracts in one formulation, which unlocks the potential to develop novel products that target large dollar market opportunities such as pain (i.e. neuropathic, joint pain), inflammatory skin disorders (i.e. acne, psoriasis), wound healing applications (i.e. battle wounds, scarring) and liver diseases.
“We have a unique portfolio of CBD-based pharmaceutical programs with validated research results which allowed for the FDA to grant us orphan drug designation in both autoimmune hepatitis and organ transplants as well as a novel drug delivery technology that has demonstrated the ability to formulate CBD in a hydrogel enabling the efficient and controlled delivery of CBD through the skin, thus unlocking significant market opportunities in inflammatory skin disorders and wound healing applications,” said Michael Frank, CEO of Revive. “Over the last year, we have evolved in focusing our clinical development programs in high demand pharmaceutical industries such as psychedelics, cannabinoids and infectious diseases that leverages our expertise in drug repurposing and drug delivery to enhance shareholder value.”
Other related developments from around the markets include:
Aphria Inc. (NASDAQ:APHA)(TSX:APHA), a leading global cannabis-lifestyle consumer packaged goods company inspiring and empowering the worldwide community to live their best life, announced Denise Faltischek, Aphria’s Chief Strategy Officer, will also assume the role of Managing Director of Aphria Germany, effective January 23, 2021, reporting to Irwin D. Simon, Aphria’s Chairman and Chief Executive Officer. Ms. Faltischek joined Aphria in September 2019 with extensive consumer-packaged goods experience and expertise leading over 50 acquisitions. She leads Aphria’s global business strategy and oversees Aphria’s medical and international business segments as well as quality function.
Canopy Growth Corp. (TSX:WEED)(NASDAQ:CGC) announced its financial results for the third quarter fiscal 2021 ended December 31, 2020. “We delivered another quarter of record net revenue, with growth across all our businesses, led by improved commercial and supply chain execution,” said David Klein, CEO. “We are building a track record of winning in our core markets, while also accelerating our U.S. growth strategy with the momentum building behind the promising cannabis reform in the U.S.”
Tilray Inc. (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, announced it has established an agreement with Grow Pharma to import and distribute Tilray’s medical cannabis products into the United Kingdom (UK). This agreement allows Tilray to provide authorized UK patients in need with a locally maintained supply of medical cannabis solutions. Tilray expects to have a range of GMP-certified, medical cannabis products available for patients in the UK by March 2021. Patients looking to use medical cannabis will have access to Tilray products in the UK by obtaining prescriptions through private practice or the National Health Service (NHS).
Jushi Holdings Inc. (CSE:JUSH)(OTC:JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has entered into a definitive agreement to acquire 100% of the equity of Organic Solutions of the Desert, LLC, an operating dispensary located in Palm Springs, California, and approximately 78% of the equity of a retail license holder located in Grover Beach, California with the rights to acquire the remaining equity in the future. Jushi is also moving forward in the merit-based application process as one of only three selected applicants for a storefront retail (and ancillary delivery) permit in Culver City, California. On December 17, 2020, one of the Company’s subsidiaries entered into a long-term lease agreement for a bespoke, ground-up build. The closing of the California Dispensary Acquisitions, and the Company’s opening of a storefront retail (and ancillary delivery) dispensary in Culver City, are subject to state and local regulatory approvals. The three new locations will be in addition to the Company’s BEYOND / HELLO™ Santa Barbara store, which opened in October 2020.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Revive Therapeutics Ltd. by a third party. We own ZERO shares of Revive Therapeutics Ltd. Please click here for full disclaimer.
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