TORONTO, ON--(Marketwired - March 06, 2017) - Beleave Inc. ("Beleave" or the "Company") (CSE: BE) (CSE: BE.CN) (CNSX: BE) is pleased to announce that it is now beginning work on a second drug standardization research project with Ryerson University, with the goal of developing highly purified formulations of medicinal compounds. This project is a follow-up to Beleave's recently completed extraction research project.
Beleave is partnering with a senior analytical biochemistry professor from the Ryerson University Department of Chemistry and Biology to develop their proposed methods for purification of medicinal compounds. The Company believes that this research will have potential application for future industrial-level processes suitable for partnering with pharmaceutical drug delivery technologies. The Company and principal investigator will be making use of the Ryerson University Analytical Center (RUAC) to develop methods for compound extraction and purification, as well as to develop an in-house method for identification and quantification of medicinal compounds for drug standardization and quality assurance purposes.
A $25,000 Engage grant from the Natural Sciences and Engineering Research Council of Canada (NSERC) has been awarded to help cover some of the research costs for the 6-month project, which began on March 1st, 2017. All intellectual property stemming from the development of these novel processes will belong to Beleave.
"An exciting goal of this project will be for Beleave to have large-scale industrial processes for isolation of certain key compounds of interest. We want to develop precisely formulated and standardized compositions, and ultimately evaluate this IP for commercial applications," commented Beleave CEO, Roger Ferreira.
Beleave Inc. is a biotech company committed to becoming a licensed producer under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"). Beleave's wholly-owned subsidiary First Access Medical Inc. ("FAM") has applied for a license to cultivate and sell medical cannabis pursuant to the ACMPR. As of the date hereof, FAM has successfully advanced past the review stage, and has been issued an affirmation letter from Health Canada prior to a request for a pre-licensing inspection. Beleave's purpose-built facility is located near Hamilton, Ontario.
Ryerson University is Canada's leader in innovative, career-oriented education. Urban, culturally diverse and inclusive, the university is home to more than 41,500 students, including 2,400 master's and PhD students, 3,200 faculty and staff, and nearly 170,000 alumni worldwide. For more information, visit www.ryerson.ca
NSERC invests over $1 billion each year in natural sciences and engineering research in Canada. Its investments deliver discoveries -- valuable world-firsts in knowledge claimed by a brain trust of over 11,000 professors. NSERC's investments enable partnerships and collaborations that connect industry with discoveries and the people behind them. Researcher-industry partnerships established by NSERC help inform R&D, solve scale-up challenges, and reduce the risks of developing high-potential technology.
NSERC also provides scholarships and hands-on training experience for more than 30,000 post-secondary students and post-doctoral fellows. These young researchers will be the next generation of science and engineering leaders in Canada.
This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the completion of the ACMPR licensing process, meeting the requirements of the ACMPR, and the start of production. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.