SASKATOON, Saskatchewan (September 28, 2018): CB3 Life Sciences Ltd. (“CB3” or the “Company”) is pleased to announce the completion of its strategic acquisition of certain intellectual property pertaining to a research and development program focused on Interleukin 37 (“IL-37”).
Development of the IL-37 intellectual property has been ongoing since 2012, led by CB3’s Chief Scientific Officer, Dr. Larry Holbrook. Research into IL-37 is conducted worldwide, has received grants from a world-class Canadian university, and continues to show exceptional promise.
The Company is confident that this newly acquired intellectual property can be further exploited and used to develop breakthrough protein-based phyto-therapeutics for treatment of various forms of inflammation. As a novel anti-inflammatory drug candidate, CB3 believes it could be used in combination with current conventional therapies for treatment of several inflammatory diseases. The most noteworthy and challenging of these inflammatory conditions are rheumatoid arthritis, inflammatory bowel diseases, multiple sclerosis and psoriasis.
CB3 issued 674,834 common shares as consideration for the acquisition.
About CB3 Life Sciences Ltd.
CB3 Life Sciences Ltd. was founded in 2018 by Brent Zettl, former President and CEO of CanniMed Therapeutics Inc. The Company is committed to the needs of medical cannabis patients, both in Canada and internationally through the development of innovative oil and derivative products more recognizable to physicians and patients.
Forward-Looking Information
This document contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking information”) with respect to CB3, including, but not limited to (a) the Canadian and international phyto-therapeutics market, (b) the research and development related to IL-37 and other phyto-therapeutics, and (c) any other statement that may predict, forecast, indicate or imply future plans, intentions, or achievements, and involve known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, or achievements of CB3 to be materially different from any future plans, intentions, activities, results, position, performance or achievements expressed or implied by such forward-looking information.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including among other things assumptions about: favorable operating conditions; obtaining and maintaining all required licenses and permits; the ability to raise sufficient capital to advance the business of CB3; and the efficacy of and demand for IL-37 and other phyto-therapeutic products. While CB3 considers these assumptions to be reasonable, the assumptions are inherently subject to significant risks and uncertainties, contingencies and other factors that could cause actual performance, achievements, actions, events, results or conditions to be materially different from those projected in the forward-looking information.
Accordingly, readers should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are provided and made as of the date hereof and CB3 does not undertake any obligation to revise or update any forward-looking information or statements other than as required by applicable law.
For Additional Information:
Dara Willis
dhw@cb3lifesciences.com
Mobile: 416-836-9272