Cannabinoid Market Growth Expands With Rising Influence of Pharma and Biotech Science Advancements
PALM BEACH, Florida, July 11, 2017 /PRNewswire/ --
Cannabinoid biotech and pharmaceutical companies are working to get CBD drugs passed by the FDA to treat serious conditions including epilepsy and MS as well as many other conditions. The remaining financial quarters of 2017 appear to be looking bright for Global Cannabinoid Biotech and other legal medical marijuana operations for active companies such as: Therapix Biosciences (NASDAQ: TRPX), Medical Marijuana Inc. (OTC: MJNA), Corbus Pharmaceutical Holdings, Inc. (NASDAQ: CRBP), Cannabics Pharmaceuticals Inc. (OTC: CNBX) and INSYS Therapeutics, Inc. (NASDAQ: INSY).
Therapix Biosciences (NASDAQ: TRPX) News: CURE Pharmaceutical (OTCQB: CURR), a leading disruptive drug delivery technology and pharmaceutical cannabinoid molecule development company and Therapix Biosciences (NASDAQ: TRPX) (Therapix), a specialty clinical-stage pharmaceutical company dedicated to the development of cannabinoid-based drugs headquartered in Israel, announced today that they signed a memorandum of understanding (MOU) to enter into a research collaboration with Israel's largest and leading private medical services center, Assuta Medical Centers, Ltd., ("Assuta"). The Companies will collaborate to advance, research, develop and commercialize potential therapeutic products in the fields of personalized medicine and cannabinoids. Read this and more news for Therapix Biosciences at http://www.marketnewsupdates.com/news/trpx.html.
"As CURE focuses on targeting unmet needs in traditional pharmaceutical markets that could be disrupted by cannabinoid-based options, we are continuously looking to help bring new therapeutic cannabinoid-based products to market and further efforts toward the creation of personalized medicine," said Robert Davidson, CEO of CURE Pharmaceutical. "Our new collaboration with Therapix and Assuta, two leading companies in Israel, a country that is at the forefront of cannabinoid-based research in the world, is the perfect place to start the development of these products." Dr. Ascher Shmulewitz, Chairman of Therapix, added, "CURE is the ideal partner for us to enter this promising and cutting-edge personalized cannabinoid-based therapeutics; this deal has all the signs of a fruitful venture."
As agreed to in the MOU, the Companies intend to formalize the pooling of professional, scientific, financial resources and expertise, in order to benefit from each of its respective advantages and capabilities to develop new therapeutic products in the fields of personalized medicine and cannabinoids. Specifically, CURE and Therapix will provide support and expertise in the development of pharmaceutical products, while Assuta will support the early research and development of potential projects through its research and facilities.
In other industry developments and market activity:
Medical Marijuana Inc. (OTC: MJNA) recently announced that its subsidiary Dixie Botanicals(TM), one of the most recognizable cannabis brands in the world, has appointed Brent Albin as Director of Sales and Marketing. Albin brings to Dixie Botanicals(R) more than 10 years of experience in online advertising and social media promotion, capable of creating mass followings on social networks for organizations. He also served as Director of Business Development for General Hemp(TM), the world's leading investment group supporting growth in the industrial hemp industry, where he was responsible for helping create Medical Marijuana, Inc.'s subsidiary Kannaway(TM), LLC.
Corbus Pharmaceutical Holdings, Inc. (NASDAQ: CRBP) closed up slightly on Monday at $6.45 with over 530,000 shares traded by the market close. Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Anabasum has demonstrated positive results in two Phase 2 studies, one in diffuse cutaneous systemic sclerosis and one in cystic fibrosis. Additionally, anabasum is being evaluated in a 12-month open-label extension study in systemic sclerosis, a Phase 2 study in skin-predominant dermatomyositis with a 12-month open-label extension, and soon in another Phase 2 study in systemic lupus erythematosus.
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) recently announced it received positive results from screening necrosis (cell death) of circulating tumor cells, from cancer patients, treated with the cannabinoids CBD and CBDA. These results greatly strengthen the company's previously accumulated data on cannabinoid anti-tumor activity. In addition, the screening results which indicate varied effectiveness of the tested cannabinoids upon different tumors (colon, breast, prostate) reaffirm the use of our proprietary technology in providing supportive data for personalized treatments.
INSYS Therapeutics, Inc. (NASDAQ: INSY) closed up at $13.36 on Monday with over 460,000 shares traded on the day. Insys Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve the quality of life of patients. Using proprietary sublingual spray technology and capabilities to develop pharmaceutical cannabinoids, Insys is developing a pipeline of products intending to address unmet medical needs and the clinical shortcomings of existing commercial products. Insys currently markets one product, SUBSYS(R) (fentanyl sublingual spray), CII, and has received approval for the marketing of SYNDROS(TM) (dronabinol) oral solution, CII, a proprietary, orally administered liquid formulation of dronabinol that Insys believes has distinct advantages over the current formulation of dronabinol in soft gel capsule. Insys is committed to developing medications for potentially treating addiction to opioids, opioid overdose, epilepsy, and other disease areas with a significant unmet need.
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