Radient Technologies Inc. (“Radient” or the
“Company”) (
TSX Venture: RTI; OTCQX: RDDTF), a
commercial manufacturer of high quality cannabinoid-based
ingredients, formulations and products, announces that it has filed
a provisional patent application covering the use of a combination
of cannabinoids, terpenes and zinc (the
“
Formulations”) as a means of preventing infection
of coronavirus, mitigating the symptoms of coronavirus, and
lowering infectiousness of Covid-19 patients, with the goal of
reducing hospitalizations and intensive care unit requirements.
Additionally, the Company announces that it will lead a
collaboration with two US based groups, IntuitiveX
(“
IntuitiveX”) and ipCapital Group
(“
ipCapital”), to explore the development of new
anti-viral products using the Formulations.
The Company is not making any express or implied
claims as to the effectiveness of the Formulations or its ability
to mitigate the symptoms of, eliminate, cure or contain Covid-19
(or SARS-2 Coronavirus), and there can be no assurance that the
Formulations will be effective or reach commercial production. The
Company plans to collaborate with IntuitiveX and ipCapital to
develop a process and timeline for the development of the
Formulations.
Patent Application
The Company has filed a provisional patent application with the
US Patent and Trademark Office (“USPTO”) that
covers the Formulations as a means of preventing infection of,
mitigating the symptoms of, and lowering infectiousness of viral
respiratory infections, including Covid-19, in patients.
“Filing this patent application with the USPTO
gives us an international priority date that will allow us to
nationalize in other selected jurisdictions in the future,
including, for example, Canada, Europe and Asia,” said Dr. Steven
Splinter, Chief Technology Officer of Radient.
Collaboration
The Company announced that it will be
collaborating with ipCapital, IntuitiveX and a third party contract
research organization to be determined with a goal of developing,
clinically testing and marketing cannabinoid based products that
are targeted at lessening and/or eliminating the effects of
Covid-19 in patients.
“We are excited to announce this important
initiative, which brings together our team of experienced research
scientists along with scientific, regulatory and technology
expertise that each of these groups possess. We believe this
collaboration will greatly assist with the development pathway for
the Formulations,” said Denis Taschuk, Chief Executive Officer of
Radient.
The Company, ipCapital and their advisors have
done a review of existing scientific literature that has focused on
the use of cannabinoids and/or zinc compounds for anti-inflammatory
and anti-viral indications. The Company believes there is
sufficient scientific evidence from its review to support exploring
the efficacy of the Formulations. As previous research work has
been done by other groups on the use of cannabinoids or zinc for
anti-viral purposes, the Company will be looking to validate that
work through its own efforts with the specific viral target for
this project. It is expected that Radient’s dedicated innovation
laboratory will lead the product development and the Company’s
proprietary processing technology will be used to produce the
high-purity cannabinoids required for this product.
Dr. Anna Bakowska-Barczak, Director of
Formulations and Product Development at Radient will oversee the
formulation development for patient studies. She has over 15
years of process/product development, formulation, and regulatory
experience. She currently leads Radient’s formulation and product
development team and has developed and continues to develop a broad
range of proprietary cannabinoid-based product formulations for
both medical and consumer markets. Dr. Bakowska-Barczak is a
recognized expert in formulation and product development for food
and nutraceutical markets, including cannabis. She holds
Engineering and Master Degrees in Food Science and received her
Ph.D. in Food Science in 2005. She has authored or co-authored over
30 peer-reviewed scientific publications and is the inventor of 13
patent applications.
The Company has developed significant
cannabinoid expertise as a result of its research efforts of the
last three years. During this time the Company built up its
scientific team to include over 25 in house scientists and
engineers and has invested over $5 million on its research, process
development and intellectual property portfolio. The Company
has developed, during this time, a number of proprietary
formulations that it hopes will form the base of the development of
a final formulation(s) for this Covid-19 program. As well, the
Company believes that it has the necessary equipment to develop and
manufacture the necessary product formulations for patient studies
including analytical testing of the composition of the
formulations.
IntuitiveX, a Seattle, Washington based life
sciences advisory firm that has a long work-ing history with
ipCapital, and is closely associated with one of Seattle’s leading
hospitals, will act as a service provider. It will lead the efforts
associated with testing, regulatory approvals and additionally,
incorporate their advanced monitoring capabilities allowing for
rapid collection and evaluation of data.
ipCapital Group, a leading Intellectual
Property(“IP”) consulting firm, based in Williston, Vermont, has
been assisting the Company with its IP strategy for two years and
will lead the IP and innovation strategy for the project.
“We are happy to be part of this collaboration
to advise on the IP strategy and the IP development,” says John
Cronin, Managing Director of ipCapital. Together, the three
companies, and through their networks, have strong product
development, clinical and regulatory expertise. Additionally,
the Company expects to support its patient study activities by
adding a third party contract research organization to assist in
the design, execution and evaluation of results of patient studies
required.
The group will be working to develop new
anti-viral products, initially targeted at Covid-19, that the group
hopes will provide mitigation in the form of reduction of symptoms
leading to fewer hospitalizations and reduced ICU requirements.
“Our goal is to combine two over-the-counter
anti-inflammatory/anti-viral mitigators that are already well
appreciated in research: cannabinoids and zinc,” said Dr. Splinter.
“There is a body of evidence that cannabinoids and their receptors
influence viral pathogenesis, viral replication and of course the
immune system itself. Further, other research has shown the
inhibitory effect of zinc on viruses that attack the respiratory
tract, including for example rhinovirus. We believe that the
combination could potentially be an effective anti-viral
treatment.”The Company envisions starting patient studies with
residents of long term care facilities, currently expected to be in
the Seattle, Washington area, in order to test the efficacy of the
Formulations both on high risk staff as well as nursing home
patients. Radient is also considering exploring the use of the
Formulations to mitigate ongoing symptoms of certain post Covid-19
survivors, notably those with continued pulmonary fibrotic disease.
No such patient studies have been scheduled as of yet, and there is
no certainty that any such patient studies will be scheduled.
Key milestones for the project would include 1)
completion of final formulations including dosing determination, 2)
patient study design including identification of test sites and
study leaders, 3) regulatory approval of study and 4) execution of
study with evaluation of results. About
Radient
Radient Technologies is a commercial
manufacturer of high quality cannabinoid based formulations,
ingredients and products. Utilizing a proprietary extraction and
downstream processing platform that recovers up to 99% of
cannabinoids from the cannabis plant, Radient develops specialty
products and ingredients that contain a broad range of cannabinoid
and terpene profiles while meeting the highest standards of quality
and safety. Please visit www.radientinc.com for more
information.About IntuitiveXIntuitiveX is a life
science consultancy and incubator created to help entrepreneurs and
startups transform their ideas from concept to commercialization.
IntuitiveX has a team of business, legal, clinical, scientific and
intellectual property domain experts with over 50+ years of
combined experience who provide a full spectrum of services to
entrepreneurs and startups.About
ipCapitalipCapital, celebrating 22 years in business, with
over 1000 clients, serving >15% of the F500 and hundreds of
medium and small businesses using its interdisciplinary team of
consultants and advisors and programmers who are all focused on
maximizing clients’ financial results. ipCapital combines its
world-class human capital with its proprietary AI based tools and
methodologies around innovation, invention, and Intellectual
Property.
SOURCE: Radient Technologies Inc.
Contact for Radient: Investor Relations:
ir@radientinc.com
Contact for Intuitive-X: Simon Robinson:
srobinson@intuitive-x.com
Contact for ipCapital: Seth Cronin:
scronin@ipcg.com
Forward Looking Information:
This press release contains “forward-looking information” within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation,
statements regarding the Company’s ability to obtain approvals for
its patents, the Company’s expectations with respect to the
efficacy of the Formulations, the Company’s ability to develop and
commercialize anti-viral products, the Company’s ability to
effectively study the use of the Formulations, including through
patient studies, the Company’s collaboration with ipCapital and
IntuitiveX and the Company’s future plans. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “goal”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will be taken”, “occur” or “be achieved”. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Radient, as the case may
be, to be materially different from those expressed or implied by
such forward-looking information. Although Radient has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Radient does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
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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