SOURCE: Plandai Biotechnology, Inc.

January 26, 2015 09:00 ET

Plandai Biotechnology, Inc. Secures Collaboration Agreement to Further Company's Cannabis Research in Uruguay

LOGAN, UT--(Marketwired - January 26, 2015) - Plandaí Biotechnology, Inc. (OTCQB: PLPL) ("Plandaí" or "the Company"), a developer of highly bioavailable plant extracts for industries including health, wellness, nutriceutical, and pharmaceutical, today announced that its wholly-owned Uruguay subsidiary has executed a research agreement with the Foundation for the Development of Basic Sciences ("FUNDACIBA") and the Group of Medicinal Chemistry ("GQM") from the School of Science at the University of the Republic in Montevideo, Uruguay. 

The agreement establishes the collaboration and structure to enable better scientific understanding of the medicinal use of cannabis to treat diseases such as Parkinson's, epilepsy, Alzheimer's, brain damage, cancer, and such others as may be deemed reasonable and appropriate. The collaboration will allow Plandaí Biotechnology-Uruguay to move forward in the scientific validation of the medicinal potential of cannabis under legally supported framework (Law No. 14,294, Law No. 19,172). For FUNDACIBA-GQM, this agreement will support the development of research lines in medicinal cannabis by incorporating high-level technology and training with experts. 

Roger Baylis-Duffield, Chief Executive Officer of Plandaí, commented, "We are appreciative of the Uruguayan government that immediately understood the potential for medical cannabis in a non-psychoactive form and gave not only their support but also their approval. We are also grateful to the faculty and dean of the Group of Medicinal Chemistry and FUNDACIBA for their enthusiasm for the project. Having both a legal framework and now a research agreement from which we can study cannabis could prove to be a huge benefit to the millions of people that could potentially benefit from our science while also helping build the pharmaceutical and biotech industries in Uruguay."

The academic collaboration aims to identify the optimal variety of cannabis for medicinal use, determine its chemical and genetic profile, perform in vitro cytotoxicity studies (efficacy and safety), and then perform in vivo studies in murine (mice and rats). The project is designed to reach pre-clinical studies; the stage of human clinical studies will be planned for a later phase of collaboration if the results in animals are favorable.

Plandaí Biotechnology–Uruguay is currently the only company given authorization to grow cannabis and conduct medical research in Uruguay. Under the terms of the agreement, Plandaí will be responsible for funding the research which will be overseen by a team of scientists from the University. Any patents or other intellectual property that is discovered from the research will belong to Plandaí with the FUNDACIBA-GQM group receiving a small royalty.

About Plandaí Biotechnology, Inc.

Plandaí Biotechnology, Inc. and its subsidiaries develop highly bioavailable, phytonutrient rich extracts which are being utilized to deliver a new family of drugs to safely and affordably treat a multitude of diseases and conditions. Plandaí Biotechnology controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its proprietary Phytofare™ extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include beverage, cosmeceutical, wellness, nutriceutical, anti-aging, and pharmaceutical. For more information, please visit http://www.plandaibiotech.com.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov.

Contact Information