November 30, 2015: 08:45 AM ET
CannaPharmaRx, Inc. (OTCQB: CPMD), an early stage pharmaceutical company whose purpose is to advance cannabinoid research and discovery (the "Company"), announced plans today for the development of its "CannaSyn" drug discovery platform. The CannaSyn technology is a platform for rapid, targeted new molecule discovery and production.
According to Mathew Sherwood, Vice President of Product Development at CannaPharmaRx, "CannaSyn is the engine that will drive our targeted drug discovery, as well as develop valuable new production technologies for the emerging cannabinoid marketplace."
CannaSyn will focus on the discovery of small molecules that modulate emerging targets in the endocannabinoid system, one of the most prevalent receptor systems in the body. The endocannabinoid system of receptors is thought to be responsible for helping the body maintain balance. Research on cannabinoids is currently being done in a wide range of disease areas, such as oncology, pain, inflammation, metabolic disorders, and neurodegenerative conditions with both natural and synthetic cannabinoid molecules.
Sherwood adds, "The CannaSyn drug discovery model is similar to that of other large cap biotech drug development companies, in that it will focus on the rapid discovery and early stage development of new drugs. CannaPharmaRx will then focus on developing a licensing partnership with or product candidate acquisition by a larger biotech or pharmaceutical company. It has been a very successful model in drug discovery over the years, and we hope to have similar success with our endocannabinoid targeted approach."
The CannaSyn platform will allow for a high volume of targeted molecules to be developed and entered into pre-clinical testing as a rapid iterative process. Combined with CannaPharma's RECRUIT data analytics platform, CannaSyn will allow researchers to refine the focus of targeted drug discovery to fit specific disease areas.
According to Jim Smeeding, Executive Vice President of Professional Services at CannaPharmaRx, "Pairing our RECRUIT platform analytics with the CannaSyn drug discovery platform will provide great synergy and allow us to focus the development of next-generation cannabinoid drugs and formulations." Other applications of the CannaSyn platform include developing new production technologies for the emerging cannabinoid space. Current botanical production and extraction methods for molecules such as cannabidiol (CBD) are inefficient and costly. According to Sherwood, "If you want pure Vitamin C, you don't plant an orange grove, harvest oranges and then extract their Vitamin C. However, this is predominantly the current technology used in the production of cannabinoids. The few approved cannabinoid drugs currently on the market are very expensive, and we believe CannaPharmaRx will develop valuable new production technologies to drastically reduce costs for manufacturers."
Gerry Crocker, Chief Executive Officer at CannaPharmaRx, added, "We view this platform as a competitive advantage within the core aspects of our drug discovery and production strategy. We are well positioned to lead the market in the development of novel compounds to grow our pipeline and enhance its value to our Biotech and Big Pharma partners down the road."
About CannaPharmaRx, Inc.
CannaPharmaRx, Inc. is an early-stage pharmaceutical company whose purpose is to advance cannabinoid research and discovery using proprietary formulation and drug delivery technology currently in development. Cannabinoids are a class of chemicals that, once ingested, are active in humans and animals through the "endocannabinoid system" -- one of the most widely expressed system of receptors in the human body. CannaPharmaRx is currently focused on targeting disease states where its delivery systems can have optimal impact with therapeutic differentiation among alternative cannabinoid therapies, including: neurological disorders, oncology, infectious disease, pain management, inflammatory disease, gastrointestinal disorders and ophthalmology. For more information, please visit www.CannaPharmaRx.com.
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated," and "intend" among others. These forward-looking statements are based on CannaPharmaRx's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any pharmaceutical products under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that product development or other matters discussed in this press release will be completed or successful. CannaPharmaRx does not undertake any obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in CannaPharmaRx's Annual Report on Form 10-K for the year ended December 31, 2014 and other periodic reports filed with the Securities and Exchange Commission.