IRVINE, CA--(Marketwired - Aug 7, 2017) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, is pleased to update its shareholders on the Company's second quarter growth and progress. Cannabis Science has made considerable gains in its endeavors to become a seed-to-sale company. In the last quarter, Cannabis Science entered negotiations for two medical marijuana dispensaries in the Los Angeles, California area. Once the deals are closed both dispensaries will be Cannabis Science-branded facilities, and will showcase the Company's products as well as other selected brands. The Company has also targeted additional Pre-ICO medical marijuana dispensaries throughout California for acquisition and integration into Cannabis Science's state-wide distribution network.
The Company is excited to improve patient access to new drug development initiatives that will allow the Company to work more closely with its self-medicating patient base. The Company expects to announce the signing of the closing documents and introduce the locations shortly.
One of CBIS' key accomplishments in 2017 was the successful launch of the CBIS Native American Sovereign Education Initiative package. This has proven to be quite successful with thousands of acres under contract for opportunities with multiple Universities, research & development facilities, laboratories, cultivation centers, economic stimulus packages, regulatory guidelines, local and international government relations, and product manufacturing utilizing cannabis and/or industrial hemp.
The Company is very pleased with the industrial hemp planting currently in progress and very excited to report specific progress moving forward. With well over 3,000 acres under contract the Company is expanding its land deals across the country and is moving certain grow pods to key locations for special cloning and research projects.
As part of CBIS' Native American Initiative, the Company is developing a number of products for market, including an oral spray, CBD capsules, and hemp CBD crystalline capsules. Initial reports regarding the oral spray is that it is an effective pain and anxiety reliever, comparable to full-extract cannabis oil. The CBD capsules are in the patient trial phase and are meeting with excellent results. 30-day, patient trials for the hemp CBD capsules have been completed, and the Company expects to begin distribution of this product in the third quarter.
The Company released its first batch of Transdermal Pain Patches in June. The CBIS medicated adhesive transdermal patch is placed on the skin to deliver a specific dose of cannabinoid medications into the bloodstream. Self-medicating patients have been reporting healing effects to specific injured areas of the body experiencing chronic pain. "An advantage of a transdermal drug delivery route over other types of medication delivery such as oral, topical, intravenous, intramuscular, etc., is that the patch can provide a controlled release of the medication into the patient, usually through a porous membrane covering a reservoir of medication or body heat that melts thin layers of high potency cannabinoid formulations embedded in the adhesive. The medication slowly enters the bloodstream at the chronic pain spot and then penetrates the central nervous system delivering the pain relief reported by self-medicating patients," explained Dr. Allen Herman, Chief Medical Officer of Cannabis Science.
Moreover, CBIS has successfully released several new products for self-medicating patient testing and observational studies, including the CBIS Metered Dose Inhaler (MDI) to target Chronic Obstructive Pulmonary Disease (COPD) and Asthma; the CBIS Transdermal Patch to target chronic pain; and the CBIS Suppository to target severe pain and other symptoms associated with cancers, anxiety, and insomnia. These are limited batches of cannabinoid-based suppositories for self-medicating, male and female patients. This Unisex Suppository Regimen Package, consisting of rectal suppositories, is the first of three regimen packages that will be released by CBIS to address the tremendous demand for cannabinoid-based medicines for self-medicating patients who require alternative delivery methods. In addition to these and other CBIS products, the Company continues to invest significantly in the research, development, and clinical trials for new cannabinoid formulations and innovative delivery systems for numerous critical indications.
Moving forward, the Company is seeking new opportunities in the way of both dispensaries and cannabis grow land acquisitions across the country. This will give the Company access to a much larger patient base, a more efficient supply chain process, and ultimately higher sales and profit margins on top of the branding benefits from having an expanded footprint from coast to coast. With a stronger customer base, the Company will be able to quickly find patients and assemble test groups for clinical trials and product testing moving forward.
Additionally, Cannabis Science entered negotiations to acquire a different licensed facility for extraction and product manufacturing in California. "This new location will provide Cannabis Science with a facility with state-of-the-art equipment for the manufacturing of our products, including pills, creams, and suppositories. This falls very much in line with the Company's plans to increase production of our existing products, as well as to increase our manufacturing capacity in anticipation of the launch of new Cannabis Science products," stated Mr. Raymond C. Dabney, Cannabis Science's President, CEO, and Co-founder.
In the second quarter, Cannabis Science senior executives once again traveled to Harvard Medical School to speak at the Global Health Catalyst Summit. This important annual event provided the Company with the opportunity to engage with stakeholders in government, private sector, and academia, as well as to further develop Cannabis Science's relationships with the Company's collaborators. These relationships should enable the Company to accelerate its drug development and clinical trial initiatives globally.
Cannabis Science received clearance from the U.S. Federal Government to be eligible for federal contracts and grants. As the world's largest customer, the U.S. Federal Government issues over $192 billion in contracts and over $450 billion in grants annually. Cannabis Science intends to explore funding opportunities, individually and with its collaborators, with institutions such as the National Institutes of Health (NIH), institutes within NIH, such as the National Institute on Drug Abuse (NIDA), and others.
About Cannabis Science, Inc.
Cannabis Science, Inc. takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on skin cancers, HIV/AIDS, and neurological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc., does not undertake any duty nor does it intend to update the results of these forward-looking statements. Safe Harbor Statement. The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward looking statements. Certain of the statements contained herein, which are not historical facts are forward looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Cannabis Science, Inc.
Dr. Allen Herman
Chief Medical Officer (CMO)
Cannabis Science, Inc.
Mr. Raymond C. Dabney
President & CEO, Co-Founder