Emerald Bioscience Starts Australian Operation Ahead of Planned Glaucoma Study
Pre-clinical studies of cannabidiol analog to commence
Long Beach, Calif., Aug. 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Emerald Bioscience, Inc. (OTCQB: EMBI), focused on the development of cannabinoid-based therapeutics to address global medical indications, especially those of unmet medical need, announced today that the company has opened its Australian office. The formation of EMBI Australia Pty Ltd and opening of an Australian office is an important step in meeting regulatory requirements to conduct studies in Australia and represents EMBI’s commitment to initiate its first-in-human study of NB1111, the prodrug of THC, in the indication of glaucoma.
Additionally, the company reported that its proprietary analog of cannabidiol, cannabidiol-valine-hemisuccinate (CBDVHS), has been manufactured to high-purity pharmaceutical standards, permitting the initiation of pre-clinical studies of this molecule related to absorption and metabolism when administered orally and by other routes. These studies will complement the data already published by the University of Mississippi which demonstrated that a nanoemulsion formulation of CBDVHS penetrated both the anterior and posterior compartments of the eye, including the neurological cells that comprise the retina.
“We are pleased with our progress in moving our drug candidate projects forward both in ophthalmology and potentially in diseases that affect other organ systems. The Australian office will serve as a key gateway for our future clinical studies with NB1111 and CBDVHS,” said Brian Murphy, MD, CEO and Chief Medical Officer of EMBI. “Given that CBDVHS has been deemed not to be a controlled substance by the DEA, we now have greater versatility to address other target indications with a more diverse research base for that drug candidate. We anticipate announcing key research affiliations for this drug candidate at upcoming professional meetings this fall.”
About Emerald Bioscience, Inc.
Emerald Bioscience is a biopharmaceutical company headquartered in Long Beach, California, focused on the discovery, development, and commercialization of bioengineered cannabinoid-based therapeutics for significant unmet medical needs in global markets. With proprietary technology licensed from the University of Mississippi, Emerald is developing novel ways to deliver cannabinoid-based drugs for specific indications with the aim of optimizing the clinical effects of such drugs while limiting potential adverse events. Emerald's strategy is to clinically develop a number of proprietary biosynthetic compounds, alone or in combination with corporate partners.
Emerald Bioscience is part of the Emerald Group, which comprises multiple companies focused on developing pharmaceutical, botanical, and nutraceutical products providing wellness and medical benefits by interacting with the human body’s endocannabinoid system.
For more information, visit www.emeraldbio.life
CONTACT
Emerald Bioscience Investor Relations
Emerald Health Sciences
Karam Takhar
Email: ir@emeraldbio.life
Phone: 949-336-3437
Douglas Cesario
Chief Financial Officer
Email: doug@emeraldbio.life
Phone: 949-336-3437
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including statements regarding our product development, business strategy, product branding, timing of clinical trials and commercialization of cannabinoid-based therapeutics. Such statements and other statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management’s current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. In some cases, forward-looking statements can be identified by terminology including “anticipated,” “contemplates,” “goal,” “focus,” “aims,” “intends,” “believes,” “can,” “could,” “challenge,” “predictable,” “will,” “would,” “may” or the negative of these terms or other comparable terminology. We operate in a rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Emerald may make. Risks and uncertainties that may cause actual results to differ materially include, among others, our capital resources, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of Emerald’ most recent annual or quarterly report filed with the Securities and Exchange Commission. Except as expressly required by law, Emerald disclaims any intent or obligation to update these forward-looking statements.
Released August 13, 2019