CBIS takes a Leading Role in Challenging Anti-Competitive Restrictions on Cannabis Drug Development in the U.S.
December 2, 2013
COLORADO SPRINGS, Colo., Dec. 2, 2013 /PRNewswire/ -- (NASDAQ OTC: CBIS) Cannabis Science, Inc., a U.S. Company specializing in cannabis formulation-based drug development, is a key leader in the private sector challenge to end the restrictions on cannabis drug development and research in the U.S. "The Cannabinoid Scientific Research and Development Act," which will be submitted for congressional review in the U.S. Senate and House of Representatives by the end of January 2014, is landmark legislation seeking equal treatment for cannabinoid scientific research. In addition, the legislation aims to provide the framework for the clinical investigation of the hundreds of strains of cannabis and their constituent cannabinoids regarding their medical efficacy on a wide range of life-threatening, chronic, and infectious diseases.
The legislation also seeks to provide "an informed clinical environment for physicians, researchers and consumers to make effective clinical choices regarding their therapeutic treatments for a variety of diseases," said Dr. Robert Melamede, President, Cannabis Science. "We need rational federal standards based upon science to replace inadequate public policies rooted in the misperceptions of the past," Dr. Melamede added.
The legislation directs the U.S. Secretary of Health and Human Services to develop guidelines, standards, and regulations that provide the framework for development of cannabis research. It also asks that this new regulatory framework begin rapidly after the removal of legal and regulatory obstacles for that research and that these guidelines follow a milestone 2007 Drug Enforcement Administrative Law ruling overturning the prejudicial procedures that effectively disallow domestic cannabis research and drug development.
Cannabis Science views these federal legislative developments as a critical part of the growth and development of its domestic biotechnology business. "We need the same consideration in terms of the ability to conduct clinical trials and to develop therapies as other firms in the biotechnology sector," said Dr. Dorothy Bray, CEO of Cannabis Science. Dr. Bray continued, "We also need to level the playing field to match rapidly changing regulatory environment in other countries that either have or are accommodating cannabis research."
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 and HIV related cancers such as Kaposi's sarcoma.
Forward Looking Statements
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 works 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.
Cannabis Science, Inc.
Dr. Dorothy Bray, CEO & Director
Robert Kane, CFO & Director