Emerging-stage pharmaceutical and IP development company Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (FRT: 2VP) this morning announced that Health Canada has issued its research and development subsidiary, Cannevert Therapeutics Ltd. (“CTL”), a dealer license allowing it to possess, analyze, sale, send, transport and deliver cannabis, hemp and related products. Per the release, reception of this license marks a “significant step” for CTL as it seeks to discover and develop new therapeutic cannabis strains while also providing commercial chemical and biological testing services for licensed producers under Health Canada guidelines. “We are excited that Cannevert scientists will now not only be able to obtain a variety of cannabis strains and related products from multiple licensed producers in Canada, but also from around the world with an acquired import permit,” Dr. Lui Franciosi, CEO of Veritas, stated in the news release. In connection with this morning’s announcement, the company aims to have a full contract service laboratory operating in the latter half of 2018.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through its 80% owned Cannevert Therapeutics Ltd. (“CTL”), is advancing the science behind medical cannabis. It is the Company aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for clinical data to support medical marijuana claims. CTL’s unique value proposition uses a low-cost research and development model to help drive shareholder value, and speed-to-market. Veritas investment in CTL is led by strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect CTL’s IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
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