Nemus Bioscience Reports Prodrug of Tetrahydrocannabinol (THC) Issued Patent Coverage in Canada and Hong Kong
COSTA MESA, CA -- (Marketwired) -- 05/17/17 -- NEMUS Bioscience, Inc. (OTCQB: NMUS) announced that patents have been granted in Canada and Hong Kong covering the company's proprietary prodrug of THC, THC-valine-hemisuccinate (THCVHS), as well as other amide-ester forms of cannabinoid-based molecules. These patents are licensed to Nemus by the University of Mississippi, and further broaden the potential commercial territories for THCVHS. The molecule has already received patent coverage in the United States, Japan, the United Kingdom, the European Union, and Australia. THCVHS is the active pharmaceutical ingredient (API) in Nemus' glaucoma drug candidate known as NB1111.
"Nemus is very pleased with the patent coverage of this proprietary, bio-engineered version of THC, especially in the Asian markets of Hong Kong and Japan. While glaucoma in western economies is often associated with elevated intra-ocular pressure (IOP), the majority of Asian patients suffer from normo-tensive glaucoma marked by death of the optic nerve in the setting of normal IOP. For these patients, having a therapy with neuroprotective capability, like the cannabinoid-class of molecules, might prove to be a potential first-line therapy," commented Brian Murphy, M.D., CEO and Chief Medical Officer of Nemus. "Our goal is to complete the formulation stage of eye drop development in anticipation of human proof-of-concept studies that can deliver a more hydrophilic or water soluble form of THC into multiple compartments of the eye. In addition, we plan to move forward the suppository formulation of THCVHS for the management of chemotherapy-induced nausea and vomiting (CINV)."
Dr. Mahmoud ElSohly, professor at the National Center for Natural Products Research (NCNPR) at the University of Mississippi commented: "The University is gratified to have years of innovative research recognized by a diverse number of territories globally. We look forward to continuing our relationship with Nemus to grow the patent estate not only related to the prodrug of THC and the analogue of CBD, but other types of cannabinoids as well."
Dr. Murphy noted, "The recently signed Series E financing led by Schneider Brothers Ltd is a transformative event for Nemus. We look forward to advancing pipeline leads into first-in-human studies as well as working to partner our precision-based cannabinoid therapy where drug delivery is tailored to specific medical conditions in eastern as well as western commercial markets."
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including statements about the intellectual property coverage and potential benefits of cannabinoid-based therapies and the timing of our near term, intermediate term and long term goals. 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 "goal," "focus," "aims," "believes," "can," "could," "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, 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 NEMUS's 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 the University of Mississippi
The University of Mississippi, the state's flagship institution, is among the elite group of R-1: Doctoral Universities - Highest Research Activity in the Carnegie Classification. The university has a long history of producing leaders in public service, academics, research and business. Its 15 academic divisions include a major medical school, nationally recognized schools of accountancy, law and pharmacy, and an Honors College acclaimed for a blend of academic rigor, experiential learning and opportunities for community action.
CONTACTS:
NEMUS Investor Relations
PCG Advisory Group
Adam Holdsworth
Email: adamh@pcgadvisory.com
Phone: 646-862-4607
NEMUS Media Relations
Janet Vasquez
JV Public Relations
Email: jvasquez@jvprny.com
Phone: 212.645.5498
Source: Nemus Bioscience, Inc.
Released May 17, 2017