Medipure Holdings Inc.

Medipure Holdings Inc.

May 21, 2015 07:00 ET

Medipure Announces MOU With Renowned Clinical Scientists to Develop Prescription Therapeutics

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2015) - Medipure Holdings Inc. (CSE:MDH) is pleased to announce that its subsidiary, Medipure Pharmaceuticals Inc. ("Medipure," or the "Company"), has entered into a Memorandum of Understanding ("MOU") with Dr. Alasdair Barr and Dr. William Paneka, internationally-known experts in the field of mental health. The purpose of this MOU is to establish pre-clinical and clinical research that will ultimately lead to the development of proprietary cannabinoid formulations usable within prescription therapeutics for the treatment of anxiety and related mental illnesses.

Dr. Alasdair Barr is an Associate Professor of Anaesthesiology, Pharmacology, and Therapeutics within the University of British Columbia's Faculty of Medicine. A highly regarded pre-clinical and clinical scientist, his research focuses on mental health and addictions, with a particular emphasis on psychosis and its treatment.

Dr. William Paneka is an Assistant Professor of Psychiatry and Neurology within the University of British Columbia's Faculty of Medicine. A leading medical practitioner and clinical scientist, he is an expert in the areas of mental health and addictions related to controlled substances, including cannabinoids.

On February 17, 2015, Medipure announced that its internal R&D team had commenced research and development related to the Company's first proprietary cannabinoid formulations, MP-10X and MP-20X. These formulations are intended for pain management and the treatment of anxiety, respectively. This research aims to both identify the molecular mechanisms of action within these formulations and generate the necessary pharmacological evidence for dosage, safety, and efficacy. This information is critical in enabling the Company to make informed decisions regarding which formulations are best suited for advancement towards clinical trials.

Dr. Barr and Dr. Paneka will collaborate with Medipure's R&D team on the advancement of these formulations. This collaboration will accelerate the evaluation of the formulations' efficacy, the securing of intellectual property, and the eventual development of prescription treatments.

About Medipure Holdings Inc.

Medipure Holdings Inc. is a biopharmaceutical company focused on developing and marketing novel cannabinoid-based prescription medicines through its subsidiary, Medipure Pharmaceuticals Inc. Medipure is creating a network of strategic partnerships with extensive experience in developing cannabinoids, medicines containing controlled substances, as well as plant-based bioactive molecules into prescription pharmaceutical products. Medipure will bring novel prescription medicines to market, providing patients with serious conditions valuable solutions that make a real difference to quality of life. Medipure will also seek to maximize the value of developed products through rapid, cost-effective product development, addressing market needs, and establishing further strategic partnerships as the company matures. Although Medipure has applied to Health Canada for a license to produce and distribute medical marihuana under the Marihuana for Medical Purposes Regulations, it has not yet received such a license and there is no guarantee that such a license will be granted to Medipure by Health Canada.

Forward-Looking Statements

Information in this press release that is not current or historical factual information may constitute forward-looking information, including future-oriented financial information and financial outlooks, within the meaning of securities laws. This information is based on certain assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the companies cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release and the companies disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release is not intended for distribution to U.S. newswire services, and should not be disseminated within the U.S.

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