Puration and NCM Biotech Enter Agreement to Accelerate FDA Approval of Candidate Pharmaceutical Products Derived From Patented Cannabis Extraction Process
Puration, Inc., April 4, 2017 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) and NCM Biotech, Inc., today announced that NCM Biotech has licensed to PURA, the right to utilize NCM Biotech's patented cannabis extraction process to produce cannabis extracts for infusion into recreational, fitness wellness, alternative medicine and beauty products. NCM Biotech exclusively owns U.S. Patent No. 9,199,960, entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.".The license of the process to PURA is the first and only license NCM Biotech has executed.
License agreement to accelerate FDA Approval of candidate pharmaceutical products
NCM Biotech's medical advisory team includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University, and John McMichael, Ph.D., President & CEO Beech Tree Labs. Research and development with NCM Biotech's patented process has demonstrated a high potential for bringing FDA approved pharmaceutical products to market, for the treatment of multiple neurological disorders and cancer. The license agreement with PURA is specifically designed to accelerate funding for the FDA approval process, through proceeds generated by PURA's sales of extracts for infusion into non-pharmaceutical consumer products. Beech Tree Labs is slated to manage the FDA approval process.
"I have received doctor feedback from more than one of our research initiatives, that extracts coming from NCM Biotech's patented process are superior in purity and quality to any other available cannabis extracts," said Frederick Ferri, CEO and Founder of NCM Biotech. "Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development, have a greater efficacy potential than GW Pharmaceutical products and candidate products. We are very enthusiastic about working with Puration, to rapidly ramp-up non-pharmaceutical extract sales offering the highest quality extracts available in the growing cannabis market, and in turn using those sales to fund our ongoing pharmaceutical product development and FDA approval process."
PURA introduces EVERx CBD Water: More cannabis infused products coming soon
PURA recently launched its first cannabis infused consumer product. PURA introduced EVERx CBD Infused Bottled Water at the recent Arnold Schwarzenegger Annual Sports Festival, in Columbus Ohio. PURA plans to introduce three new EVERx CBD Infused sports nutritional supplement products later this month, in conjunction with the annual cannabis 420 celebration.
"The license agreement announced today is a substantial and strategic update to the joint venture agreement under which PURA and NCM have already been working," said Brian Shibley, CEO of Puration. "The license agreement is a more reliable and financeable asset than the joint venture agreement. With the license agreement, we anticipate securing conventional financing to build a commercial extraction lab that can support the magnitude of sales interest we have already generated, with just the introduction of one product so far. In fact, look for the first of two anticipated lab facility announcements later this month."
Southwest Cannabis Conference and Expo April 22-23
PURA and NCM Biotech are both participating at the upcoming Southwest Cannabis Conference and Expo April 22-23, in Fort Worth, Texas. PURA's EVERx Products will be featured in both the AmeriCanna Cafe tradeshow booth and in the NCM Biotech booth. Come to the conference to learn more about PURA and NCM and the license agreement announced today.
To learn more about Puration: purationinc.com
To learn more about NCM Biotech: ncmbiotech.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
Brian Shibley, CEO
SOURCE Puration, Inc.