United Cannabis Corp (OTCMKTS:CNAB) bought a majority stake in Prana Therapeutics, Inc., which is a clinical stage biotechnology entity working on Polymolecular Botanical therapeutics for the orthopedic, oncology and neurology markets. Dr. Brent Reynolds, the CEO of PTI, reported that the conditions that their company focuses on are complex with numerous mechanisms impacting their progression.
One of the major factors to the dismal success rate of conventional drug development is the concentration on individual drugs and single mechanisms, which don’t consider the redundancy that prevails in the intricate interplay of disease progression and development.
They have focused their research measures to advancing combinatorial medications that target numerous mechanisms and focus on utilizing botanical compounds that exhibit a top established safety profile. One of the first-gen Polymolecular Botanical Drug is Epidiferphane™, which has applications in many distinct disease fields. PTI association with United Cannabis will enable them to expand their clinical program and list new offerings that may use the expertise of the two firms.
The preliminary clinical data on Epidiferphane™ have been extremely promising and they will dedicate their full resources to bringing the technology to clinical from pre-clinical testing, by filing an Investigational New Drug application and passing the stringent FDA drug approval procedure. The objective of company will be submitting a New Drug Application with the U.S. FDA.
PTI was established in 2012 by leading scientists based on technology advanced by Dr. Brent Reynolds and Dr. Loic Deleyrolle. Numerous patents have been submitted by the University of Florida related to the composition of matter and applications of Epidiferphane™ for curing cancer, managing inflammatory diseases and attenuating the adverse side effects of cancer treatments.
As per the agreement, United Cannabis has acquired a big stake in PTI by exchanging freshly issued shares of its common stock. Prana Therapeutics will continue to run independently.
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