QUEBEC--(BUSINESS WIRE)--Devonian Health Group Inc. (“Devonian” or the “Corporation“) (TSXv: GSD), a clinical stage biopharmaceutical corporation, today announced that the Corporation has filed a patent application for the use of thylakoids as delivery system for cannabinoids and other liposoluble molecules for pharmaceutical and cosmetic applications.
The patent application relates to thylakoids and functional derivatives, as carriers for molecules. More specifically, this invention relates to a composition comprising functional thylakoids, particularly in specific formulations that ensure the integrity and functionality of molecules, particularly liposoluble molecules, that are difficult to formulate, to increase their bioavailability. The patent covers the extraction of cannabinoids-containing thylakoids from plant such as Cannabis sativa, indica or hemp. It also covers the incorporation of liposoluble molecules, such as cannabinoids, into thylakoids extracted from any photosynthetic organism.
“The filing of this new patent is another pivotal component of our broad strategy of expanding our already list of patents. Importantly, this filing is timely as we look to demonstrate the potential broad application of our technology. Furthermore, this new patent aligns to our pharmaceutical cannabinoids-based drug development program.” said Dr. André P. Boulet, President & CEO of Devonian.
Devonian Health Group Inc. is a late stage biopharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription botanical drugs from plant materials and algae for the treatment of inflammatory-autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian’s focus is further supported by a US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian Health Group Inc. was incorporated in 2013 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability ‘from the seed to the pill’. Acquired in 2018, Altius Healthcare Inc., its commercial division, brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSX Exchange (TSXv:GSD).
For more information, visit www.groupedevonian.com.
Forward Looking Statements
This press release contains forward-looking statements about Devonian’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, Devonian’s ability to develop, manufacture, and successfully commercialize value-added pharmaceutical and cosmeceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Devonian to take advantage of business opportunities in the pharmaceutical and cosmeceutical industries, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in Devonian’s prospectus dated April 21, 2017 under the heading “Risk Factors” related to Devonian’s business. As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.