PROTEXT PHARMA ANNOUNCES SUCCESSFUL COMPLETION OF GOVERNMENT INSPECTION OF PROPOSED MEDICAL CANNABIS SITE FACILITY
July 11 2018 - 11:50AM
InvestorsHub NewsWire
PROTEXT PHARMA ANNOUNCES
SUCCESSFUL COMPLETION OF GOVERNMENT INSPECTION OF PROPOSED MEDICAL
CANNABIS SITE
FACILITY
Company to
Target Inflammation and Pain
Management
Florida, USA --
July 11, 2018 -- InvestorsHub NewsWire -- Protext Pharma, Inc.
(PINKSHEETS:TXTM) ("Protext" or
"the Company"), a biotech company engaged in the development of
pharmaceutical botanical medicines that are formulated with
highly-bioavailable plant
extracts, is pleased to announce that a meeting was held July
4th 2018 at the company’s office in White River,
Mpumalanga with senior Government staff members of the South
African Health Products Regulatory Authority (SAHPRA), (formerly
known as the Medicine Control Council-MCC).
The
meetings lasted approximately seven hours and included in depth
discussion of the company anticipated medical cannabis business in
the country, site visit and complete inspection of a large
industrial building the company has secured and plans to use for
growing, cultivating and extraction of cannabis for medical
purposes.
Commenting on the meeting, Mr. Duffield stated,
“In my opinion the site inspection was successful, and the
industrial building we have secured was given the green light as a
suitable facility for building our medical cannabis
operations. As a final condition to the license being issued,
an update to our Site Master Plan has been requested by SAHPRA in
order for the project to be implemented. It is
our understandings from these meetings that SAHPRA is fully
supportive with the issuing of the necessary licenses which will
allow the company to develop a cannabis medicines platform in South
Africa.”
Mr.
Duffield added, “As of the end of last year, South Africa became one of a few select
countries where medical cannabis is
legal on a Federal level through Government issued
licenses. While the licensing process has been
lengthy, we believe we are near the finish line. The
anticipated license will legally permit the growing of cannabis
and allow the Company to conduct research for the purpose of
producing a full profile non-psychoactive cannabis extract for
medicinal use. The facility will
incorporate an on-site laboratory which will be designed and
engineered to process live plant material. The Company
will use its
proprietary processing and extraction technology to produce a
full-profile cannabis extract, one that contains both CBD and the
precursor acid form of THC (THC-A and THC-B) found in live cannabis
plant. The Company's investigations will be designed to show that
the our extraction process, which will use live leaf and low
temperatures to extract the phyto-chemicals, should leave the acid
forms of THC intact, resulting in a non-psychoactive extract with
full medicinal potential and having the heightened bioavailability
of other Phytofare® extracts. As a Schedule 4
drug in South Africa, the non-psychoactive cannabis medicine can be
prescribed by health professionals and, importantly, will allow the
Company to export globally where medical cannabis is currently
legal.”
“Where other cannabis companies have
focused their research on specific ailments like epilepsy
conditions such as neuron disorders pain, cancers, we plan to
target a much larger addressable market. An estimated 52.5
million adults in the USA suffer from over 100 types of arthritis
including osteoarthritis and rheumatoid arthritis gout, lupus,
fibromyalgia, and septic arthritis. There is currently no cure.
Based on emerging evidence the Company has created a cellular
arthritis model to develop a schedule 4 Drug that delivers
anti-inflammatory activities through the dampening of inflammation
in osteoarthritis and rheumatoid arthritis key cells. The initial
investigation is to validate the anti-inflammatory effects of the
cannabinoid complex in in-vitro models. In terms of market size,
South Africa has a population of 55 million, compared to 36 million
in Canada, where medical cannabis has been legal for many years and
is a multi-billion dollar business. The Company intends to further
distribute into those countries where medical cannabis importation,
distribution and use are permitted,” concluded Mr.
Duffield.
Investors are encouraged to follow Protext
using:
YouTube: http://bit.ly/ProtextYouTube
Twitter: https://twitter.com/protxtm
Instagram: https://www.instagram.com/protextm/
CONTACT
INFORMATION
Info@protextm.co
About Protext Pharma,
Inc.
Protext
Pharma operates two wholly owned subsidiaries; Plandai
Biotechnology South Africa (Pty) Ltd. and Cannabis Biosciences,
Inc. The Company is engaged in the research, clinical testing
and commercialization of highly bioavailable botanical product that
are all-natural ingredients formulated for pharmaceutical
applications and produced under pharma-grade conditions.
Please visit http://www.protextm.co for further
information.
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. The company disclaims any obligation to update
information contained in any forward-looking statement. This press
release shall not be deemed a general solicitation.
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