DENVER, CO--(Marketwired - Jan 31, 2017) - Phoenix Life Sciences, Inc. ("Phoenix Life"), a disruptive healthcare solutions company and biotech innovator, is pleased to announce that a Letter of Intent has been executed for the acquisition of Phoenix Bio Pharmaceuticals Corporation. Phoenix Bio Pharmaceuticals is a privately held company with a focus on intellectual property ("IP"). The current IP portfolio consists of condition-specific formulations, multiple proprietary compounds, extraction technology, and delivery systems for medical cannabis products.
The acquisition of Phoenix Bio Pharmaceuticals secures ownership of key IP and expands Phoenix Life's IP portfolio. In completing this transaction, Phoenix Life will acquire a diverse cannabinoid and combination therapy IP portfolio. Phoenix Life plans to prepare these products to file for patent applications. Based on Phoenix Bio Pharmaceuticals' current IP portfolio, this plan is anticipated to include over forty (40) individual patents that will be filed in the areas of extraction technology, proprietary compounds, and delivery systems.
This acquisition positions Phoenix Life to create leading production and distribution facilities for disruptive healthcare solutions in the United States and internationally. It also provides opportunities for partnerships in the evolving medical cannabis industry in the United States, as well as in countries like Australia, Canada, and Germany, by allowing doctors, pharmacies, and other medical professionals to enhance patient care with accurate dosing and several choices for delivery mechanisms.
Vince Coviello, President and Chief Investment Officer of Phoenix Life, said, "Gaining ownership of the intellectual property will give us greater leverage to open up doors and expand our capacity to bring cannabinoid therapeutics to the patients who need it, both nationally and internationally as the regulatory frameworks open up."
Coviello also said, "By being able to combine the companies into a single global player in the evolving healthcare industry, we are positioning ourselves to serve the growing interests of governments in advancing healthcare with the inclusion of medical cannabis programs; providing doctors with real solutions for patient dosing and delivery systems; and most importantly, providing patients with safe and legal access to clinically proven plant-based compounds, maximizing results and minimizing side effects."
About Phoenix Life Sciences, Inc.:
Phoenix Life Sciences, Inc. is a disruptive healthcare solutions company, whose vision is to "Create a future where the human body can repair, restore and rejuvenate itself."
By combining new and existing research with state of the art production, Phoenix Life plans to distribute products around the globe that are designed to target and treat the following seven major categories of medical conditions: pain, cancer, psychological, gastrointestinal, autoimmune, neurological, and sleep disorders. These categories include conditions that affect hundreds of millions of patients worldwide.
Phoenix Life intends to build an integrated healthcare organization by creating products and programs that use emerging biological products, such as cannabinoids and other plant extracts. Delivering these programs through managed agriculture, pharmaceutical production, and physician education and distribution networks.
Information contained in this press release regarding Phoenix Life Sciences, Inc. (the "Company") may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to the Company herein are expressly qualified in their entirety by the above-mentioned cautionary statement. The Company disclaims any obligation