NEW YORK--(BUSINESS WIRE)--CannRx Technology, Inc. (“CannRx” or the “Company,” http://www.cannrx.com/), a privately-held Delaware corporation developing pharmaceutical-grade products from cannabis, announced today that Jeffrey Friedland, noted author, speaker, and opinion leader in the cannabis industry, has joined the Company’s Board of Directors.
Mr. Friedland is at the forefront of the global cannabis industry. His book, “Marijuana, the World's Most Misunderstood Plant”, has received much attention. Mr. Friedland was an owner of two Colorado marijuana retail stores and a grow facility that were featured in the CNN 2015 reality series, High Profits. In addition, he has been quoted in numerous publications, including Wall Street Journal, Reuters, the New York Times, Bloomberg Television and USA Today.
Mr. Friedland is also the CEO of the financial services firm, Friedland Global Capital (http://www.friedlandcapital.com/) which provides corporate finance and strategic advisory services. He has served as a CEO of a NASDAQ-listed company, a director of an NYSE-listed company and the chairman of a Frankfurt Stock Exchange-listed company.
Dr. William Levine, the CannRx’s Executive Chairman, commented on the announcement, “Jeff brings a breadth and depth of experience, in both the cannabis and financial markets, that will be invaluable to CannRx as we work to commercialize our growing platform of products and technologies. Management is excited to work with him and I look forward to his contribution.”
Mr. Friedland stated, “One of my primary concerns regarding medical cannabis is the limited ability to clearly define its indications and effects for medical practitioners and consumers, which often leads to inaccurate dosing, unpredictable clinical results and undesirable side effects. CannRx’s proprietary platform enables the establishment of standard protocols and therapies based upon specific conditions and symptoms - which I believe are critical to the broad acceptance of medical cannabis. Simply put, CannRx technology enables us to scientifically identify which cannabis strain to use for which diseases and how to dose it effectively. Something that the marijuana industry is sorely lacking.
“Equally important, CannRx is more than a research and development company, its objective is to generate near-term revenues through the licensing of its technologies in the U.S. to state-licensed medical marijuana businesses, while also seeking Food and Drug Administration approval for its cannabis-based pharmaceuticals which provides the opportunity for significant commercial success.”
About CannRx Technology
Initially formed as a subsidiary of Izun Pharma Corp. (“Izun”), CannRx has a unique technological advantage due to its relationship with Izun, a company with 16 years of success in the specialty pharma area of botanical medicine. Izun has several pharmaceutical products approved in Europe and the US.
CannRx has developed highly accurate quantitative and qualitative analytical chemical assays as well as disease-specific bioassays to determine the activity of specific cannabinoids in the cannabis plant. The Company’s in-house laboratory has been awarded ISO 17025 certification and is the premier testing and analytical laboratory for cannabis in Israel. CannRx’s laboratory in Israel is the government’s Ministry of Health’s leading testing laboratory for cannabis.
CannRx has also designed unique and proprietary delivery systems for medical cannabis that increase bioavailability, reduce carcinogenicity and provide precise dosing of cannabis-based medicines. Its technology provides the benefit of lower doses with increased and prolonged effects with a reduction of side effects.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about CannRx expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, CannRx or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to press releases or oral statements made by or with the approval of one of CannRx’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause CannRx’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause CannRx’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements. In addition, CannRx operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. CannRx does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.