Nemus Bioscience, Inc. Announces Letter of Intent to License Biosynthetic Technology to Manufacture Its Proprietary Cannabinoid Molecules From Teewinot Life Sciences Corp.
COSTA MESA, CA and TAMPA, FL -- (Marketwired) -- 06/10/16 -- NEMUS Bioscience, Inc. (OTCQB: NMUS) announced it signed a letter of intent (LOI) with Teewinot Life Sciences Corp. that is expected to lead to signing of a license agreement in which NEMUS would license biosynthetically-derived cannabinoid molecules based on NEMUS' proprietary prodrug technology.
Teewinot is a global leader in the use of synthetic biology to create pharmaceutical grade cannabinoids. This week the company was granted the first U.S. Patent covering a commercial process for biosynthetic production of the cannabinoids THCA, CBDA and CBCA. The LOI terms contemplate the grant to Nemus of a license to sell products in all therapeutic indications globally using the Teewinot proprietary biosynthetic processes on NEMUS' proprietary molecules. Biosynthetic production offers the potential to improve purity and speed of production of cannabinoid molecules over traditional methods of deriving the molecules from plants or chemical synthesis.
"Teewinot will offer NEMUS a strategic and competitive advantage in the cannabinoid therapeutic marketplace by enabling our proprietary THC prodrug and unique CBD derivative molecules to be manufactured in a time-efficient manner, reducing synthesis time from months to days," said Brian Murphy, MD, MBA, the NEMUS CEO and CMO. "Additionally, biosynthesis provides cost of manufacturing advantages over traditional chemical synthesis methods, often reducing costs anywhere from 60-75 percent. We are impressed with the versatility of the biosynthesis system in the ability to produce an array of cannabinoids, which fits plans for our library of cannabinoid pipeline molecules developed with our research and commercialization partner, the University of Mississippi."
Jeffrey Korentur, CEO of Teewinot, said, "Our company is well-positioned to play an instrumental role in the burgeoning field of cannabinoid-based therapeutics, in the United States, and on a global scale. We look forward to collaborating with NEMUS and their partner, the University of Mississippi, which brings a 48-year history of cannabinoid-based research. Our collective expertise can optimally advance new therapies utilizing cannabinoid molecules."
"Teewinot, which is offering unique, innovative, and disruptive technology in the cannabinoid manufacturing space perfectly complements the disruptive drug design technology of the NEMUS prodrug platforms. Together, we may dramatically impact the therapeutic potential offered by cannabinoids across a spectrum of debilitating diseases," said Dr. Richard Peet, executive vice president of Teewinot.
Teewinot is scaling up its proprietary processes in collaboration with Albany Molecular Research, Inc., a leading U.S. contract research organization (CRO) and the current API manufacturer for NEMUS.
FORWARD LOOKING STATEMENTS
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, including statements about our expectation to enter into a license agreement and the terms of such license agreement. 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 "goal," "focus," "aims," "believes," "can," "challenge," "predictable" "will," 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 Company may make. Risks and uncertainties that may cause actual results to differ materially include, among others, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of NEMUS' most recent annual or quarterly report filed with the Securities and Exchange Commission. Except as expressly required by law, NEMUS disclaims any intent or obligation to update these forward-looking statements.
ABOUT NEMUS BIOSCIENCE, INC.
The Company is a biopharmaceutical company, headquartered in Costa Mesa, California, focused on the discovery, development, and commercialization of cannabinoid-based therapeutics for significant unmet medical needs in global markets. Utilizing certain proprietary technology licensed from the University of Mississippi, NEMUS is working to develop novel ways to deliver cannabinoid-based drugs for specific indications, with the aim of optimizing the clinical effects of such drugs, while limiting the potential adverse events. NEMUS' strategy will explore the use of natural and synthetic compounds, alone or in combination. The Company is led by a highly qualified team of executives with decades of biopharmaceutical experience and significant background in early-stage drug development.
For more information, visit http://www.nemusbioscience.com.
About Teewinot Life Sciences Corporation
Teewinot Life Sciences Corporation is an international biopharmaceutical company focused on the use of synthetic biology and advanced formulation for the production and implementation of cannabinoid based therapies. With headquarters in Tampa, Florida, Teewinot manufactures and licenses technology to make cost effective, pharmaceutically pure authentic cannabinoids as an industry leader in support of advancing medical research and product development. Teewinot's global technology and intellectual property represent a breakthrough in the creation and delivery of cannabinoid based medicines. For more information, please visit www.tlscorp.com or follow us on Twitter (@teewinot_corp).
CONTACTS:
NEMUS Investor Relations
PCG Advisory Group
Adam Holdsworth
Email: adamh@pcgadvisory.com
Phone: 646-862-4607
http://pcgadvisory.com/
NEMUS Media Relations
Sean Leous
Email: sleous@pcgadvisory.com
Phone: 646-863-8998
Teewinot Media Relations
Heather Pavliga
Email: heather@horizonmarketing.com
Phone: 813-781-5999
Source: NEMUS Bioscience, Inc.
Released June 10, 2016