Sirona Biochem CEO’s Report on Progress
Momentum Public Relations
Press Release: September 28, 2018
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (Xetra: ZSB) (the “Company”) provided a shareholder corporate update today from the Company’s CEO, Dr. Howard J Verrico.
Dear Shareholders,
As the summer comes to a close and we enter the final months of 2018, I am eager to share the progress of Sirona’s recent clinical development and partnering activities. We sincerely apologize for the lack of communication recently, as we had been quite busy internally pivoting our strategy. However, we are now in a position to provide a comprehensive update. Sirona’s current strategy is based on a three-pronged attack, which I will explain in detail below, to ensure success in maximizing the value of our skin-lightener TFC-1067.
Clinical Trial Development
As mentioned in our most recent news release, Sirona and its subsidiary laboratory TFChem are nearing completion of the necessary requirements in developing TFC-1067 for a proof of concept, human clinical trial. Through work with a toxicologist and extensive safety studies, a formulation of Sirona’s lead skin lightener has been prepared. The Proof of Concept Clinical Trial will begin late October at a U.S. based clinic. The trial, performed by a lead dermatologist who has worked with many of the top tier pharmaceutical and biotechnology companies world-wide, will take approximately 12 weeks.
North America Strategy
Many Sirona shareholders were aware of the late stage negotiations taking place with a large North American company to license TFC-1067. Even though term sheets had been exchanged, a sudden change in focus by the potential partner company alongside a large internal reorganization has delayed talks. While interest does remain, we made the decision months ago to expand the search for new potential partners in North America. Of the several interested cosmetic companies, one company specifically has invested significant time and resources to evaluate TFC-1067. Accordingly, we are pleased with the progress to date and foresee licensing discussions advancing.
Moreover, with the clinical trial beginning soon, many lead cosmetic companies we have previously spoken to are anticipating the results and will be eager to continue moving forward at that point.
Asia Strategy
While we continue to anticipate a North American licensing deal, Asia accounts for approximately 90% of the global skin-lightening market and continues to grow rapidly. Many North American companies have difficulty penetrating the Asian markets, resulting in lack of sales channels. We believe that working with leading cosmetic companies within Asia, where a majority of sales occur, is critical to entering this market. Previously, Sirona has attempted to navigate the Asian cosmetic market, but the different business practices and relevant contacts necessary, proved to be obstacles. However, Sirona’s strategic advisors PRC Partners Limited (PRC), out of Hong Kong, with their extensive presence and experience in Asia, have helped Sirona over the last five months, specifically in China.
PRC has set up several meetings with major cosmetic companies in the People’s Republic of China. Chief Scientific Officer, Dr. Géraldine Deliencourt-Godefroy, and I have made several trips to China and we are working on several deal options – either working with one major brand to develop TFC-1067 or licensing it to many players in the market through a material supplier, which would make TFC-1067 an OEM product. We are in discussions with companies regarding options.
Although the focus of these meetings has been on TFC-1067, several of the larger companies are also expressing interest in Sirona’s anti-aging compound, LIP-01. This further confirms the large cosmetic demand by the Asian market for novel products.
Ultimately, we believe that focusing on not only the North American market, but also Asia, as well as independently developing TFC-1067 through a proof of concept clinical trial, will allow Sirona to secure the most value from TFC-1067 on a global scale.
Thank you for your continued patience and support. We hope that this update on Sirona’s strategy makes you as confident as we are in regard to licensing TFC-1067. Most importantly, Sirona plans to continue improving communication and transparency moving forward.
Sincerely,
Dr. Howard Verrico, CEO
About PRC Partners
PRC Partners is a Hong Kong-based corporate development consulting firm with a strong focus on China and Japan. The company assists Canadian public companies in tapping investment funds and high-net-worth individuals in Asia.
PRC Partners has a specific focus on the discovery of undervalued and promising growth companies and serves these companies by increasing visibility and accessing capital through an experienced network of investors.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information regarding this press release, please contact:
Christopher Hopton, CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@sironabiochem.com
- Published in Life Sciences, News Home, Sirona Biochem
North Bud Farms Announces Licensing of Cannabinoid Infusion Technology for Food and Beverage Platform
Momentum Public Relations
Press Release: September 27, 2018
North Bud Farms Inc.(CSE: NBUD) (“NORTHBUD” or the “Company”) is pleased to announce the licensing of infusion technology for its food and beverage platform with Made By Science Inc., a wholly owned subsidiary of Form Factory Inc.
The Company signed a supply and licensing agreement with Made By Science Inc. (“MBS”), an Oregon, California multi state co-packaging and infused product manufacturer. MBS owns a variety of IP protected infusion, encapsulation, taste masking and manufacturing processes.
This Agreement provides that NORTHBUD will purchase from MBS raw, non-infused protein-based encapsulation powder (MX-17) to be used for infusion and formulation purposes in the Canadian market. NORTHBUD and MBS have established a per gram cost as well as a royalty agreement where NORTHBUD will pay a floating royalty on business to business sales and a consumer direct sale.
The companies intend to negotiate a master licensing agreement (“the Agreement”) to include the licensing and use of multiple proprietary food infusion technologies for which MBS will grant a master license for NORTHBUD to the use of the patented technology.
“Over the past 8 months our team has researched many technology solutions pertaining to encapsulation and infusion of cannabinoids into foods and beverages,” said Ryan Brown, Founder and CEO of North Bud Farms Inc. “This agreement secures us access to a premier technology partner allowing us to leverage a proven technology and tested processes from an advanced consumer market. We believe this will accelerate NORTHBUD’s goal of developing a food grade cannabinoid infused taste neutral ingredient as a first step towards creating products that will follow in compliance with the upcoming regulations regarding infused consumables. Over the coming months we look forward to working with both Food and Cannabis industry participants as we establish our development platform in preparation for the legalization of edibles and consumables which is anticipated in October 2019.”
“Made By Science has been relentlessly innovating the science driving the infused edibles industry to provide brands and consumers with safe, efficient and accurate products. As our team continues to position as a best in class manufacturer in the U.S., we have had our sights set on Canada as both critical to our long-term expansion and essential for our ability to export to international markets. NORTHBUD was an early believer in our technology and our team and we are excited to support their efforts with innovation and scale,” said Joshua Held, President of Form Factory Inc.
In accordance with the corporate stock option plan, North Bud Farms has issued 85,000 options at a strike price of $0.60 to advisors and consultants assisting with this project. These options will vest over a 24-month period.
About Made By Science Inc.
Made By Science Inc. is a wholly owned subsidiary of Form Factory Inc., a multi state manufacturer of cannabis infused food and beverage products.
For more information visit: www.madebyscience.co
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly-owned subsidiary GrowPros MMP Inc. which was acquired in February 2018, is pursuing a license under the Access to Cannabis for Medical Purposes Regulations (ACMPR). North Bud Farms will be constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec. North Bud Farms will be focused on Pharmaceutical and Food Grade cannabinoid production in preparation for the legalization of edibles and ingestible products scheduled for October 2019.
For more information visit: www.northbud.com
- Published in Business, Medical Marijuana, News Home, NorthBud
AREV Shifts into High Gear — CFN Media
Momentum Public Relations
In The News: September 26, 2018
AREV Brands International (CSE: AREV) is a cannabis integrator that has parlayed its history with natural health products into an intriguing and streamlined cannabis company. Through a series of accretive acquisitions, the company has transformed into a Canadian-based cannabis operator with international ambitions.
Genetics, the Foundation of Quality and Consistency
AREV recently acquired BC Bud Depot, one of the world’s most respected and awarded breeders and marketers that features an internationally recognized brand and an extensive seed bank of hundreds of strains. Starting with 2004’s win at the High Times Cannabis Cup, the first win for a Canadian company in international competition, BC Bud Depot strains have up more than 40 awards from cannabis competitions.
Genetics and proprietary strains are important for both the medical and adult-use markets. In the medical arena, consistent and specific genetic traits produce consistent and specific terpene and cannabinoid profiles, thereby providing a remedy for a targeted area of health such as Anxiety, Central Nervous System, Insomnia, Libido and Pain Management. AREV has taken an in-depth look at the BCBD seed bank and identified several strains that deliver a specific experience to the consumer. Due to intelligent strain selection and processing, consumers can choose how they would like to feel. They can Relax, be Energized, Create, all based on easy to understand labelling.
AREV sees both wholesale and retail potential from its seed bank. The strains could be sold outright to licensed producers, or they could be the foundation of a partnership where the LP cultivates the plant and sells it back to AREV for distribution. The cultivation risk and expense is off-loaded to the growers and AREV controls the genetics. The opportunity is not limited to North America, as the company has incorporated in Ireland and Germany to build on its international infrastructure.
The BC Bud Depot acquisition also netted a couple of other key assets. One, the company has an extensive database of over 50,000 customers and potential customers, a list that is invaluable as AREV grows its business both with cultivators and in other aspects of the industry. Two, BC Bud Depot has 10 years of pre-paid advertising on the prime inside front cover of High Times magazine.
Extraction and Innovation
AREV controls 28 acres in the Southern Interior of British Columbia. It plans to leverage an ACMPR license to develop a breeding, nursery, laboratory, and extraction facility that will further expand the company’s capabilities in relation not only to cannabis but to the development of other medicinal plant-based products.
AREV cut its teeth on plant-based, scientifically derived products utilizing extracts from a variety of medicinal plants. In a joint venture with a related company, Alternative Extracts Inc., the company utilizes state of the art extraction techniques to create pure and consistent concentrates that form the foundation for nutritional and nutraceutical products. AREV recently announced that this joint venture has perfected the infusion of oil-based extracts (like the cannabinoids and terpenes from cannabis) into beverages, including beer, wine, ciders, and fruit juices. The proprietary extraction method preserves the natural characteristics of the active ingredients, including flavor.
By adjusting the terpene profiles, AREV’s CBD and THC based products can now deliver a specific experience to the consumer. This enables the company to profile the experience the consumer has while enjoying products with AREV’s ingredients. With the cannabis industry headed more toward extract-based products, both medicinally and recreationally, and away from smoked cannabis flower, a breakthrough like this could be transformative for the company. Beverages are in their infancy, and technology that can deliver all of the desirable characteristics from the flower in beverage form would certainly bring change to the beverage industry. AREV’s terpene profiling is not limited to the cannabis industry. It can be used in many food and beverage products currently sold in unregulated markets.
Products and Distribution
AREV’s COCO-MULSION products are sold in the health and wellness sector. These products come in formulations that support relaxation, brain function, and physical performance. They are Health Canada certified and distributed throughout the country. The company also has Canadian distribution rights to the Bare Topicals line of cannabis-based creams intended for pain relief and treatment of skin conditions. In the pipeline, AREV intends to launch a line of CBD sport nutrition supplements along with a CANNA-MULSION CBD with its new brand ambassador Patrick Cote, former UFC Champion. The company has also collaborated with Alternative Extracts to come up with a THC delivery system and a full line of cannabis oils and sprays.
Some of these products need the proper ACMPR licenses for distribution, while others can be offered over the counter as they derive from hemp rather than cannabis. Either way, the fact that AREV has lines of distribution in place and products currently in the market bodes well for the successful introduction of new products in the future.
Please follow the link to read the full article: http://www.cannabisfn.com/arev-shifts-high-gear/
Disclaimer
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
- Published in AREV Nutrition Sciences, Business, Medical Marijuana, News Home
Sirona Biochem Receives Positive Safety Data for Lead Skin-Lightener in Preparation for Clinical Trial in the US
Momentum Public Relations
Press Release: September 26, 2018
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (Xetra: ZSB) (the “Company”) is pleased to report further progress regarding the clinical development of its lead skin-lightener, TFC-1067.
In parallel with ongoing partnering discussions, Sirona has completed steps toward the clinical trial for TFC-1067. A toxicologist, from CEHTRA in Paris, was hired to approve Sirona’s compound for clinical use. From the pre-clinical data, the toxicologist established a clinical dose for the compound and further confirmed that it does not degrade into toxic metabolites such as hydroquinone and benzoquinone.
The Company also contracted formulation expert Gael Boutry of Global Beauty Consulting in France to develop a formulation acceptable for clinical use. The formulation (face cream) containing TFC-1067 has already been prepared, packaged and tested in an accelerated stability test to ensure shelf-life.
Over the past two months, safety studies with the formulation have been ongoing at Dermscan, Poland, and continue to provide positive data for TFC-1067. The first study, a human patch test on 10 people, confirmed TFC-1067 as a non-irritant, in contrast to many other skin-lighteners.
In early August, a second clinical trial for the Human Repeat Insult Patch Test (HRIPT) which assesses sensitization on a larger group (110 people) began, in preparation for future efficacy trials. Initial results from the panel show TFC-1067 as a non-sensitizer. With these tests completed, Sirona will begin their proof of efficacy clinical trial in October, at a center in the United States, led by an acclaimed dermatologist.
“The significance of the data that supports the formulated TFC-1067 cream as a non-irritant, non-sensitizer cannot be understated, as many common skin-lighteners, like hydroquinone, resorcinol, and Kojic Acid, have known toxicities at effective doses,” said Dr. Howard Verrico, CEO of Sirona Biochem. “The market has an unmet need with the safety and efficacy problems associated with the currently available skin lighteners and we are confident that TFC-1067 will meet this need. With an inventory of formulated product, we are primed to start the trial in October.”
The planned clinical trial does not prevent negotiations of a definitive agreement in the interim. Advancing the development continues to add value to TFC-1067 and shorten the time to full commercialization. This improves our future potential partners ability to share our confidence in the commercial opportunity we are creating. In parallel, meetings with North American and Asian cosmetic companies continue to move forward.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information regarding this press release, please contact:
Christopher Hopton, CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@sironabiochem.com
- Published in Business, Life Sciences, News Home, Sirona Biochem
Crop Secures THC License Portfolio at New 1,000 Acre Farm for Cultivation, Extraction, Commercial Kitchen and Retail
Momentum Public Relations
Press Release: September 26, 2018
CROP INFRASTRUCTRE CORP. (CSE: CROP) (OTC: CRXPF) announces that its subsidiary Elite Ventures Group LLC has signed a joint venture agreement with The Hempire LLC of Nevada (the “Tenant”) to purchase a 100% interest in an 1,000 acre Esmeralda County agricultural cannabis project tenanted with a suite of cannabis licenses including medical cultivation, medical production and with adult use recreational cultivation & production conditional licenses as well as an option to acquire a retail dispensary application assigned to a strategic location on highway 95 on route to Las Vegas. CROP has agreed to loan up to $4,250,000 USD over a period of the next 6 months to acquire 100% of the initial 10 acres of real estate and associated infrastructure with the additional 1,000 acres being paid for at a cost of $4,500,000 over a 20-year amortization period at 6% interest with a 3-year balloon payment. CROP will receive preferential payback on the project at a rate of 60% of the net profits from Elite.
Esmerelda County is one of the only jurisdictions in Nevadawhere climate and zoning allows for greenhouse or outdoor growing. This will be significant for our tenant growers and brand licensee to be able to provide high quality product on a large scale at the lowest cost possible, keeping with CROP’s strategy.
The initial set up costs of outdoor 80-acre operation will be approximately $1,200,000 and should yield tenants 160,000 pounds of outdoor cannabis for extraction and edibles and a 44,000 square foot light supplemented greenhouse facility at a cost of $2.0 Million. The greenhouse facility should yield tenants 24,000 pounds of high quality flower per year with an additional 25% for extraction and edibles. The project can be expanded up to 300 acres of combined greenhouse and outdoor cultivation.
RBC Capital Markets, an investment bank that’s part of Royal Bank of Canada, issued a memo to clients outlining the rapid growth of the U.S. marijuana sector. The memo, authored by Nik Modi, shows how cannabis sales in the U.S. are gaining ground on beer and wine sales. Projecting a compound annual growth rate (CAGR) of 17 percent, Modi estimates that the legal cannabis category could reach $47 billion in sales annually in the United States within the next decade, according to Business Insider.
The Esmeralda Property
- 10 acres of land adjacent to Highway 95 outside of Tonopah
- 10 acre-feet of ground water rights
- Option to acquire 1,000 acres of contiguous property with water rights
- 2,400 sqft production, extraction, commercial kitchen facilities with state approval
- NV Energy Utility agreement for cultivation building and expansion to 12,000 sqft.
- Equipment included: Building, main HVAC system, lighting, backup generator, sinks, and restroom fixtures.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “CROP now has over 1,000 acres for THC Cannabis cultivation, extraction, commercial kitchen and 1,865 acres for HEMP CBD production in Nevada. Our ambition has always been to be early mover and establish our market footprint in any jurisdiction we invest in. Next year CROP plans on having the largest real estate foot print in the State of Nevada with tenanted operations in the fast-growing CBD & THC markets.”
About CROP
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm, a 1,865 CBD farm, extraction in Nevada with international focuses in Jamaica and Italy and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities issuable thereunder and the Transaction are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the expected yield from The Esmeralda Property; the technological effects of The Esmeralda Property on production; the intention to expand its portfolio; and execute on its business plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the regulatory and legal framework regarding the cannabis industry in general among all levels of government and zoning; risks associated with applicable securities laws and stock exchange rules relating to the cannabis industry; risks associated with maintaining its interests in its various assets; the ability of the Company to finance operations and execute its business plan and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press release.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: http://www.cropcorp.com
Phone: +1-(604)-484-4206
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
TD Forecasts Marijuana Will Hike GDP by $8 Billion
The Chinese Are Coming
Synthetic CBDs and THC: Better Living Through Chemistry
TD Forecasts Marijuana Will Hike GDP by $8 Billion
Momentum Public Relations
Blog: September 26 2018
Just when you thought the Canadian marijuana industry was a slam dunk for becoming a dominant global force the Chinese are beginning to set up and take notice. According to a September story in The GrowthOp, the Postmedia marijuana industry news website, here come the Chinese.
Arcview Market Research and BDS Analytics have predicted that by 2027 the global marijuana market will be worth $US57 billion and you can be sure that Chinese business will see that as an attractive market. The Chinese will have to play catch-up, but catch-up is a game the Chinese play very well. Things will kick off when CannaTech: Hong Kong’s first cannabis investor symposium takes place on November 1st.
While Chinese investors will probably start to pour into the Canadian cannabis industry, they will as legislation changes, consider starting their own industry. Chinese herbal medicine has longed used marijuana as an ingredient.
URI Capital Management, one of the symposium sponsors was quoted in the story as saying: “Asia, more specifically China, is poised to leverage its unique advantages in Hemp and agriculture to become a dominant global leader. URI is proud to become the first Chinese financial conglomerate to focus on the Asian cannabis industry and will leverage the firm’s world-class research and investment resources to lead the way.”
If there is any doubt about the marijuana market drying up Canopy Growth (TSX:WEED) spun off its investment arm last Thursday and by Friday, Canopy Rivers Corp. (TSXV:RIV) market evaluation had more than doubled, according to a story in the Financial Post, to $1.6 billion. Before its IPO Canopy Rivers was valued at $600 million.
RIV has already made ten investments in Canada and one in Italy. According to the company website the investments include licensed producers, pharmaceutical formulators and retail.
As noted by Bloomberg it was the first time a bank, CIBC, had helped a marijuana company list on a Canadian stock exchange. CIBC led the deal with GMP Securities and Eight Capital.
The Bloomberg story contained the following quote: “We’re really trying to make this smart money that goes global,” Bruce Linton, chief executive officer of Canopy Growth and acting CEO of Canopy Rivers, said, “The scouting has been pretty active.”
Tilray (NASDAQ:TLRY) showed just how volatile marijuana stocks could be by rising 98% before plunging and then climbing back up to gain 44% on September 19, 2018. Tilray stock started climbing when the US FDA granted it permission to export medical marijuana for a trial in California as a treatment for essential tremors. The stock then came down to earth when a Florida Republican came down on the deal and said that the trial should be using American produced medical marijuana.
According to Bloomberg, Tilray shares rose to US$176 a share and then dropped like a stone to US$123 a share, finally ending the week up by 12%. Since it IPO in July, Tilray has risen by 800%.
Just as Aphria sold its interest in Liberty Health Sciences last week Aurora Cannabis (TSX:ACB) has spun off its American interests by spinning off Australis Capital (CSE:AUSA). Last Fall The TMX Group ruled that American federal overruled American state law and that consequently Canadian marijuana companies with American operations faced delisting if they did not exit the American market.
Like Canopy Rivers, Australis is an investment vehicle designed to aid American marijuana companies that have problems accessing capital and expertise. In an oversubscribed non-brokered pre-IPO private placement financing Australis raised $17 million at $0.20 a share. On Friday September 21st, Australis opened at $3.90 before closing at $3.16.
The next story should be filed under the 60s rubric of Better Living Through Chemistry. Cronos Group (TSX:CRON), one of the top Canadian vertically integrated marijuana producers, has announced a partnership with Boston-based Ginkgo Bioworks, a biotech startup. Under the partnership Cronos will fund research designed to produce synthetic CBDs and THC. Cronos is targeting a production price point of a thousand dollars a kilogram. The process will involve using fermentation to produce the cannabinoids.
Ginkgo Bioworks has had success producing expensive ingredients, perfume and flavours using synthetic DNA. The end product could be used in a variety of ways: including medical therapies, vaporizer cartridges and edibles. Cronos will invest up to $22 million in Ginkgo to fund research and development and in return for milestones give Ginkgo up to 14.7 million shares. In exchange Cronos will have the right to use and commercialize the resulting intellectual property.
Cronos is not the only marijuana LP looking into the future. On September 19th The Gazette reported that LP Organigram’s parent company, Organigram Holdings (TSXV:OGI), has invested $10 million in and formed an alliance with Hyasynth Biologicals, to develop synthetic phytocannabinoids, using the same techniques as Ginkgo, biofermentation. Hysaynth will be using its proprietary technique to produce the synthetic cannabinoids. As with Ginkgo, the process uses genetically engineered strains of yeast.
Finally, on September 19th the Financial Post reported that the Toronto-Dominion Bank had predicted that after legalization the marijuana industry will add up to $8 billion to the country’s real GDP. Canada’s measure of real gross domestic product will get a boost after the legalization of marijuana adds as much as $8 billion to the country’s economy, according to the bank. After legalization. Statistics Canada will face the daunting task of including both legal and illegal marijuana industry economic statistics in its forecasts.
Just how Statscan will assemble the black market statistics remains to be seen. Given that the illegal marijuana trade isn’t big on keeping records a lot of by guess and by golly will probably be used.
- Published in Blog
Diagnos Five Years Ahead of Google in Diabtetic Retinopathy Screening Says Harvard Professor
Diabetic Retinopathy Market Predicted to Hit US$10.11 Billion by 2022
Diagnos Launches Hypertension Screening Application
AI Healthcare Applications Expected to Grow at 52% CAGR Between 2017-2022, Hitting US$7.98 Billion
Momentum Public Relations
Blog: September 24, 2018
On September 14th, 2018 Diagnos (TSXV: ADK) held an investor presentation at a downtown Montreal bistro for retail and institutional investors. Diagnos’ flagship product is CARA, computer aided retinal analysis, a cost efficient diabetic retinopathy screening application running on the company’s artificial intelligence platform Flaire. The company has been going from triumph to triumph this year. One indication of that was the presence of Chinese investment fund representatives.
During the presentation, recently appointed Diagnos Board member Dr. Reed Maclellan described the company’s technology as being “light years ahead of the competition. I was at a recent conference and nobody, not even Google can do what Cara can. Cara can detect macular degeneration. This is the only technology in the world that can do it. Diagnos is five years ahead of Google.”
Maclellan is an adjunct professor at both Harvard and the Boston Children’s Hospital where he teaches surgery. A microcirculation specialist, Dr. Maclellan also lectures internationally and frequently speaks at conferences of the American College of Surgeons, the Plastic Surgeons Research Council and the International Society of Vascular Anomalies.
Diagnos develops screening tools that help health care providers cut costs and make early diagnoses. Cara is designed to detect diabetic retinopathy and has the potential to prevent 85-90% of diabetes induced vision loss through early detection. At last count Cara has screened 222,034 patients, in 16 countries, using 131 screening sites. If untreated diabetic retinopathy leads to blindness.
The company is currently conducting its first Canadian pilot project in Montreal at CHUM, the Centre hospitalier de l’Universite de Montreal. If the pilot project is a success, Larente expects to be setting up Cara screening centres in hospitals and clinics across Quebec. CHUM has 35,000 diabetics, 80% of whom have never had a retina screening. Once you are a diabetic you face a 50% chance of going blind.
“Our job,” Larente, Diagnos’ president said in an earlier interview, “is to screen those 35,000 diabetics and send the ones that are critical right to the ophthalmology department and mange the other ones. Manage means you come every year and you get your test done.”
Once the pilot project is completed Larente expects to see Cara screening facilities in Quebec hospitals and just as a successful pilot project in Mexico led to a government contract, he expects the CHUM pilot project to result in a contract with the Quebec Ministry of Health.
“This will actually reduce the cost to the government because now you are going to manage the diabetic population. When you start to have retinopathy you can treat the patient. There is diet, there are vitamins. There are small inexpensive treatments to make sure it doesn’t go to the critical stage. There is a very effective laser treatment for bleeding.”
The diabetic retinopathy market is growing at 6.8% CAGR and according to a news release issued by Million Insights will grow from US$5.9 billion in 2014, to US$10.11 billion in 2022.
During the presentation, Diagnos president Andre Larente, announced that while the company intended to keep on marketing to government health agencies it also intended to beef up its approach to targets like hospitals and health care providers.
Drawing on his own experience, Maclellan described why AI powered medical devices had an initial slow adoption rates. “People were afraid it would take their jobs.” That has now changed. “Once one hospital starts using it, Cara adoption will snowball.”
To show just how much AI driven platforms are gaining traction in medicine at the beginning of 2018 Research House Frost & Sullivan predicted that by 2025, 85% of surgical procedures are likely to be done by robots.
According to Market and Markets, the market for artificial intelligence applications in healthcare will grow from US$667.1 million in 2016 to US$ 7.98 billion in 2022, growing at a CAGR of 52.68% during the forecast period.
Diagnos’ product line is expanding. In July the company launched the first application in its Cardio product line, Cara HTA. The application uses the same fundus camera used for diabetic retinopathy to screen for hypertensive retinopathy. Cara HTA also monitors the efficacy of blood pressure treatments which will allow doctors to monitor and adjust treatment as necessary.
From a revenue standpoint, Cara HTA offers the same form of recurring revenues that screening for diabetic retinopathy does. Once the screening has been initially performed patients will require additional screenings on an annual or as needed basis.
The hypertension market is huge. Almost one in two adult Americans, for example, suffer from high blood pressure, a precursor to strokes and heart attacks.
Diagnos also has a third product in development, Cara Cardio which will screen for cardiovascular disease and debut during 2019. In September Diagnos signed two agreements. The first was with another Montreal-based company Optina Diagnostics, to provide a telemedicine platform based on Cara for a period of three years. Optina will use Diagnos Cloud Services to upload images generated by Optina’s hyperspectral camera for the early detection of Alzheimer’s.
The company believes that the agreement will attract other biotech companies that need a telemedicine platform. Cara includes a telemedicine platform that allows all the medical professionals involved to see the same picture. Additionally the company has already successfully incorporated blockchain technology to maintain patient confidentiality.
In September the company also signed a three year agreement with American company 20/20NOW to provide diabetic retinopathy screening services. 20/20NOW is a pioneer in ocular telehealth.
September has been a good month for Diagnos, the future should be even better.
- Published in Blog, Diagnos, Life Sciences, News Home, Technology, Uncategorized
Crystal Lake Gains Foothold In Heart of Golden Triangle
Momentum Public Relations
Press Release: September 24, 2018
Crystal Lake Mining Corporation (the “Company” or “Crystal Lake Mining”) is pleased to announce that it has signed a Letter Agreement with Romios Gold Resources Inc. for an option to acquire a 100% interest in the 436 sq. km Newmont Lake Project in the prolific Golden Triangle, immediately south of Galore Creek (Newmont and Teck) and north-northwest of key projects in the highly active Eskay Camp.
Newmont Lake Project Highlights:
- Vastly under-explored district-scale land package with multi-commodity potential in the heart of the Eskay Rift;
- 22 documented mineral occurrences adjacent to the high-grade Northwest gold zone (historic resource) which is open for expansion;
- Immediate (October) planned drill program at Burgundy Ridge target (never previously drilled) at southwestern end of project where a continually receding snowfield has exposed broad areas of copper-gold-silver mineralization;
- Major new infrastructure improvements in the region (roads, bridges, power, AltaGas camp) have enhanced access and will accelerate the discovery process.
Richard Savage, Crystal Lake President and CEO, commented: “To gain a foothold in such a prominent mining district with an exceptional land package featuring both scale and untapped exploration potential will drive value for CLM shareholders. With Newmont Lake and our Nicobat Project in northwest Ontario, we’re on track for a very exciting finish to 2018.”
Dr. Peter Lightfoot, Crystal Lake Technical Adviser, added: “The combination of mapping programs by the B.C. Geological Survey and operators going back to the 1980’s, coupled with new airborne electromagnetic methods, places the Newmont Lake Project in a whole new light. It is strategically positioned to achieve a place in the world’s next great mining camp.”
The Deal
To acquire a 100% interest in the 436 sq. km Newmont Lake Project, Crystal Lake must complete the following:
1) |
$8 million in exploration expenditures at Newmont Lake over the next three years ($3 million in Year 1 and $2.5 million in each of Years 2 and 3); |
2) |
$2 million in cash option payments to Romios as follows: $250,000 on signing of Letter Agreement (paid) and a further $250,000 payable on each of 90 days, 180 days and 270 days following regulatory approval of transaction; a final $1 million payment upon Crystal Lake earning its 100% interest; |
3) |
A total of 12 million shares of Crystal Lake will be distributed to Romios over a three-year period – 4 million each year, with the first 4 million shares issued following regulatory approval of the transaction (subject to normal hold period and a “lock up” provision). |
Crystal Lake will be the operator during the earn-in period, and Romios will have the right to appoint one director to the CLM board.
Romios will retain a 2% Net Smelter Returns Royalty (NSR) on the Newmont Lake Project, or on any after-acquired claims within a 5 km radius of the current boundary of the project, which may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR.
The Letter Agreement is subject to TSX Venture Exchange approval and the execution of a Definitive Agreement within 45 days.
Dr. Lightfoot concluded, “The planned upcoming drill program at Burgundy Ridge should further underscore the compelling potential of this project. We look forward to extensive data compilation and reinterpretation over the coming months, and quickly advancing this exciting project.”
Qualified Person
The technical information in this news release has been reviewed and approved by Dr. Peter C. Lightfoot, P.Geo., a Qualified Person responsible for the scientific and technical information in this news release under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through the discovery of new magmatic nickel sulfide deposits and other deposit types using technical excellence in exploration target development.
On behalf of The Board of Directors of Crystal Lake Mining Corporation,
Richard Savage, President & CEO
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2018/24/c1706.html
Contact:
MarketSmart Communications Inc., Tel: +1 (604) 261-4466, Toll free: 1-877- 261-4466, Email: info@marketsmart.ca; Momentum PR, Tel: +1 (514) 815-7473, Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
MedX Health appoints Spearn as CEO, director
Momentum Public Relations
Press Release: September 24, 2018
MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) announces the following changes to its Board and Executive team, effective immediately. Scott Spearn, who joined the Company as President in April 2018 is taking on the additional role of Chief Executive Officer and is joining the Board of Directors. Rob von der Porten, previously the CEO, has been appointed as Chairman of the Board in place of Gary Van Nest who has retired from that position and remains as a director.
“With the recent launch of our DermSecure™ telemedicine platform and anticipating a global roll-out of this leading product, the transition of Scott’s role to CEO represents a natural evolution at MedX,” noted Rob von der Porten, MedX’s new Chairman. “Scott’s experience in building sales organizations and developing international markets in the medical device field will help accelerate our growth from our SIAscopy technology and our Therapeutic and Dental Laser products.”
Gary Van Nest noted, “On behalf of the Board, we want to thank Rob von der Porten for his leadership during challenging times over the past few years and developing with the MedX team solid product roadmaps such as the delivery of DermSecure™.
“I am excited to be taking on the CEO role, leading a dedicated team of hard-working people. MedX is a great Canadian company with innovative products and robust technology that is making a big difference in the health of people’s lives around the world,” said Mr. Spearn.
Mr. Spearn is a seasoned medical device executive with nearly 30 years of developing sustainable, trusted relationships with key opinion leaders, strategic partners and industry influencers. Before joining MedX, Mr. Spearn held a number of senior executive roles at a multi-national medical device company where he substantially grew revenues across several business divisions.
The Company has granted 1,000,000 share options to the incoming CEO, the options having an exercise price of $0.16, exercisable for a period of five years, and vesting over a one-year period.
About MedX
MedX, headquartered in Mississauga, Ontario, is a leading medical device and software company focused on skin cancer with its DermSecure™ telemedicine platform, utilizing its SIAscopy technology. SIAscopy is also imbedded in its products SIAMETRICS™, SIMSYS™, and MoleMate™, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS™, SIMSYS™, and MoleMate™ include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are Health Canada, FDA (US), ARTG and CE cleared for use in Canada, the US, Australia, New Zealand, the European Union and Turkey. MedX also designs, manufactures and distributes quality photobiomodulation therapeutic and dental lasers to provide drug-free and non-invasive treatment of tissue damage and pain. www.medxhealth.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Media Release may contain forward-looking statements, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180924005812/en/
Contacts:
MedX Health Corp
Scott Spearn, 905-670-4428 ext 226
President and CEO
or
Media Relations
Deborah Thompson, 416-918-9551
dthompson@medxhealth.com
- Published in Business, Life Sciences, MedX Health Corp., News Home, Technology