SōRSE Technology Partners with & Acquires Part of Cancer Research Group Pascal Biosciences for Cannabinoid Research Programs
11 Marzo 2020 - 5:00AM
Business Wire
Pascal Biosciences Inc. (TSX.V:PAS) (“Pascal”) has entered into
a Term Sheet with SōRSE Technology (“SōRSE”) to develop Pascal’s
cannabinoid programs. Investing in and financially supporting
Pascal Biosciences’ research marks the first step for SōRSE
Technology moving into medical research applications. This
partnership leverages SōRSE’s industry-leading formulation
technology with Pascal’s cannabinoid programs for clinical trials,
led by Patrick Gray and his team of world-class medical
researchers.
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SōRSE Technology sells and licenses a proprietary water-soluble
cannabinoid emulsion technology (patent-pending) that enables
increased bioavailability, accurate dosing, and over 12 months
shelf stability. SōRSE Technology is science and data-driven, with
53 employees, 30 of whom specialize in R&D and Quality
Assurance. SōRSE currently has multiple partnerships which provide
a profitable revenue stream.
SōRSE technology will enable other cannabinoid researchers to
build a network of doctors and scientists that can lead the world
in offering cannabinoid health solutions. Pascal is the first
company to identify a mechanism for cannabinoids to directly
benefit cancer immunotherapy and is also developing a
cannabinoid-derived drug targeting glioblastoma.
Pascal Biosciences is actively evaluating cannabinoid
application research studies for potential participation. As a
reputable cannabinoid industry leader, SōRSE Technology will
partake in Pascal approved studies for the advancement of the
industry and pharmaceutical applications.
“The potential of Pascal’s cannabinoid programs for clinical
applications in combination with SōRSE’s proprietary emulsification
methods offers a promising path for future medical applications of
cannabinoid products,” said Dr. Patrick Gray, CEO of Pascal
Biosciences. “This agreement comes on the heels of recent,
successful collaborative efforts with SōRSE that allowed us to
examine SōRSE formulations in several Pascal ongoing studies. The
combination of SōRSE’s industry-leading technology with Pascal’s
long-term biotech potential make this a meaningful transaction for
our shareholders.”
“At SōRSE, we’re driven by our mission to help people better
their lives through superior cannabinoid ingredients and delivery
methods,” said SōRSE CEO Howard Lee. “We are excited to continue to
support pharmaceutical studies of cannabinoids with the world-class
researchers of Pascal Biosciences.”
About Pascal Biosciences Inc.
Pascal is a biotechnology company focused on advancing
innovative approaches for the treatment of cancer including
cannabinoid-based therapeutics and targeted therapies. The
Company’s portfolio comprises a small molecule therapeutic,
PAS-403, that is advancing into clinical trials for the treatment
of glioblastoma; and PAS-393, an immuno-stimulatory cannabinoid to
be used in combination with checkpoint inhibitor therapy. In
addition, Pascal is developing a B-cell targeted antibody for acute
lymphoblastic leukemia. Pascal will continue to work on this
program, focusing on monoclonal antibodies for Acute Lymphoblastic
Leukemia.
About SōRSE Technology
SōRSE Technology is a water-soluble emulsion technology designed
for product developers to provide consumers with a better cannabis
experience with greater bioavailability, near-perfect dosing,
shelf-stability, and safe ingredients. Their patent-pending
technology converts oil into SōRSE, a proprietary water-soluble
emulsion, for seamless integration as an ingredient in food items,
beverages, topicals, and medical applications.
SōRSE Technology currently powers more than 30 market-leading
products in the cannabis, hemp and CBD industry. SōRSE‘s expertise
allows for 360 degree solutions for product developers with minimal
disruption to existing production procedures and methods. From
sourcing ingredients to product formulation, the SōRSE team
provides its partners unprecedented product safety and quality
while optimizing compound bioavailability. Partnership
opportunities include licensing, white labeling, product
development, and cannabinoid research studies. SōRSE Technology is
currently available in North America, South America, Europe, and
Australia.
For more information, visit www.SōRSEtech.com.
For more information, visit www.pascalbiosciences.com.
DISCLAIMER
Certain statements in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or forward-looking information under applicable
Canadian securities legislation that may not be based on historical
fact, including without limitation statements containing the words
“believe”, “may”, “plan”, “will”, “estimate”, “continue”,
“anticipate”, “intend”, “expect” and similar expressions. Such
forward-looking statements or information involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, events or developments, or industry results, to be
materially different from any future results, events or
developments express or implied by such forward-looking statements
or information. Such factors include, among others, our stage of
development, lack of any product revenues, additional capital
requirements, risk associated with the completion of clinical
trials and obtaining regulatory approval to market our products,
the ability to protect our intellectual property, dependence on
collaborative partners and the prospects for negotiating additional
corporate collaborations or licensing arrangements and their
timing. Specifically, certain risks and uncertainties that could
cause such actual events or results expressed or implied by such
forward-looking statements and information to differ materially
from any future events or results expressed or implied by such
statements and information include, but are not limited to, the
risks and uncertainties that: products that we develop may not
succeed in preclinical or clinical trials, or future products in
our targeted corporate objectives; our future operating results are
uncertain and likely to fluctuate; we may not be able to raise
additional capital; we may not be successful in establishing
additional corporate collaborations or licensing arrangements; we
may not be able to establish marketing and the costs of launching
our products may be greater than anticipated; we have no experience
in commercial manufacturing; we may face unknown risks related to
intellectual property matters; we face increased competition from
pharmaceutical and biotechnology companies; and other factors as
described in detail in our filings with the Canadian securities
regulatory authorities at www.sedar.com. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements and information, which are
qualified in their entirety by this cautionary statement. All
forward-looking statements and information made herein are based on
our current expectations and we undertake no obligation to revise
or update such forward- looking statements and information to
reflect subsequent events or circumstances, except as required by
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“Neither the 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”
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Investor Contact: invest@pascalbiosciences.com
Media Contacts: Julie Rathbun for Pascal Biosciences
info@pascalbiosciences.com Tel: 206-769-9219
Richard Laermer for SōRSE Technology SorseTech@RLMpr.com Tel:
212-741-5106 X 216
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