CannRx Technology Partner Receives ISO 17025 Certification for Its Laboratory

NEW YORK--()--CannRx Technology, Inc. (“CannRx”, www.cannrx.com), a privately-held Delaware corporation whose mission is to develop high quality pharmaceutical products from cannabis by leveraging its patented technology, announced today that its partner Izun Pharma Limited (“Izun”, www.izunpharma.com) has been awarded ISO 17025 certification (http://www.iso.org/iso/home/store/catalogue_tc/catalogue_detail.htm?csnumber=39883) for the analysis of cannabis and cannabis-based products. The certification of Izun represents the first laboratory in Israel to achieve this distinction.

CannRx is leveraging off Izun’s successful track record in developing botanically-based healthcare products, some of which have already received regulatory approval in the US and the EU. Using Izun’s state of the art screening technology for cannabinoids and specific in vitro assays, CannRx has already identified certain strains and cannabinoid profiles that may be valuable in targeting specific diseases. This collaboration has already resulted in the development of a proprietary patent pending delivery system for cannabis.

Barry Hahn, M.D., CEO of CannRx, stated, “Our collaboration with Izun has provided us with an opportunity to utilize the cannabinoid assays which were validated by the ISO 17025 certification and certain in vitro assays to advance CannRx’s efforts to initiate clinical studies. While our ultimate focus is in developing prescription cannabis products initially to treat Parkinson’s disease and pain, we also believe that offering current 'medical marijuana' users a product that has a defined ratio of each cannabinoid component will provide dual benefits of safety and reliability.“

CannRx currently is in discussions to establish relationships in the US and Canada to develop differentiated products utilizing the expertise it has developed through its collaboration with Izun.

CannRx Disclosure Notice: This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein or which are otherwise made by or on behalf of the Company that are not statements of historical facts may be deemed forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “to,” “plan,” “expect,” “believe,” “anticipate,” “intend,” “could,” “should,” “would,” “estimate,” or “continue,” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties which may cause results to differ materially from those set forth in the statements. Such risks and uncertainties include, but are not limited to the following: the success of research and development activities and the speed with which regulatory authorizations and product launches may be achieved; government regulation generally; competitive developments; the ability to successfully market products domestically and internationally; difficulties or delays in manufacturing or issues relating to manufacturing capacity; commercial obstacles to the successful introduction of brand products generally; legal defense costs, insurance expenses, settlement costs, and the risk of an adverse decision or settlement relating to product liability, patent protection, governmental investigations, and other legal proceedings; the Company’s ability to acquire and protect patents and other intellectual property both domestically and internationally; the absence of certainty regarding the receipt of required regulatory approval or the timing or terms of such approvals; any changes in business, political and economic conditions; business interruption due to hurricanes or other events outside of the Company’s control.

Investors are cautioned not to place reliance on these forward-looking statements, which are valid only as of the date they were made. The Company undertakes no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise, except as expressly required by law.

Contacts

CannRx Technology, Inc.
Barry Hahn, M.D., 646-224-6966
CEO
bhahn@cannrx.com

Release Summary

CannRx Technology Inc., is a privately-held Delaware corporation whose mission is to develop high quality pharmaceutical products from cannabis by leveraging its patented technology.

Contacts

CannRx Technology, Inc.
Barry Hahn, M.D., 646-224-6966
CEO
bhahn@cannrx.com