Company has a wide portfolio of novel compounds and products
Five research and development programs
Strong research and development relationships with university-sponsored scientific team at the University of Queensland in Australia
Financing in place, recently completed another raise
What PreveCeutical Medical does
PreveCeutical Medical Inc. (CSE:PREV) (OTCQB:PRVCF) (FSE:18H) is a health sciences company which is developing innovative options for preventive and curative therapies utilizing organic and nature identical products.
Its name, in fact, is a nod towards that: “Preve”ntive (noun), a medicine or other treatment designed to stop disease or ill health from occurring; “Ceutical” (suffix), refined healing item or therapy," notes the company on its website.
Headquartered in Vancouver, PreveCeutical currently has five research and development programs, including dual gene therapy for curative and prevention therapies for diabetes and obesity, and its Sol-gel program for nose-to-brain delivery of medical compounds including cannabinoids as well as non-addictive analgesic peptides as a replacement for morphine, fentanyl and oxycodone.
In July 2018, the firm launched its CBD division, which focuses on finding treatments for various ailments using CBD, which can be administered through the Sol-gel delivery system. The Sol-gel delivery system uses a sustained-release nose-to-brain delivery system, designed to be universally-patient friendly -- meaning that formulations could be used in both children and adults.
How it's doing
PreveCeutical has had a busy year and continues to gain momentum in 2019.
It's Sol-gel drug delivery research and development program took another step forward, with news that the firm has applied to acquire human nasal tissue for the final phase of testing the technology.
The cannabis and CBD-based nose-to-brain delivery system is aimed at providing relief for pain, inflammation, seizures, and neurological disorders.
READ: PreveCeutical partnership leads to two new patent filings targeting non-addictive alternatives to opioid painkillers
The company's peptide research for pain management also took a notable step forward as it applied for two patents in Australia alongside research collaboration partner UniQuest (UQ) and The University of Queensland in developing non-addictive alternatives to opioid painkillers, through the use of cyclic peptides.
The company has a research collaboration with UniQuest (UQ) and the University of Queensland which aims to develop a non-addictive alternative to opioid painkillers by developing cyclic peptides.
Peptides are currently being used to target an array of disease indications including metabolic disorders, pain, cancers, cardiovascular and infectious diseases.
More peptide progress
The company is also seeing encouraging preliminary results from its research and development program that is expected to enable the company to generate key Nature Identical™ peptide therapeutics for use in treatments of brain cancer.
The firm is involved in a study that uses blue scorpion venom-derived peptides to better understand its therapeutic application in cell-based brain cancer models.
Preliminary screening in an aggressive brain cancer assay successfully identified four lead peptides that inhibit the activity of a target protein that is found in the progression in certain glioblastomas. According to PreveCeutical, the results have helped to progress the company towards assessing the efficacy of the lead peptides in more sophisticated glioblastoma (brain cancer) research.
Dual gene therapy targets diabetes and obesity
The company is also focused on research into dual gene therapy targeting type 2 diabetes and obesity. The program is looking at proprietary chemistry toward the single gene target that is implicated in type 2 diabetes and obesity, which reduces capacity to store fat, reverse obesity and fatty liver disease.
"Five years of painstaking work has gone into this initiative and management has already taken this research through the proof-of-concept stage in cellular models of diabetes and obesity," noted chief research officer Dr. Harry Parekh.
Continues to bolster team
The company has bolstered its team in recent months, with the appointment of its chief scientific officer Dr. Makarand Jawadekar as president.
Financing in check
The company completed a C$305,000 non-brokered private placement in February 2019, with funds raised going towards research and development programs and general working capital.
A total of 6.1 million units were issued at a price of C$0.05 per unit for gross proceeds of C$305,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of C$0.08 per share for a period of 24 months, expiring February 11, 2021.
CEO says research is ongoing
"Over the next 12-15 months, all of these programs will be complete," says CEO Stephen Van Deventer. "So from now on, the shorter programs will start to be coming out with more results, more patents and more things available," adding that the last one to finish will be the research into dual gene therapy targeting type 2 diabetes and obesity.