Cannabis Science Inc (OTCMKTS:CBIS) shares rose 9.77% on Friday to $0.0657 and retreated 0.61% to $0.0653 in after-hours trading. Share prices have been trading in a 52-week range of $0.01 to $0.08. The company has a market cap of $150.54 million at 2.31 billion shares outstanding.
Cannabis Science Inc is a company that is engaged in medical marijuana research and development by working on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce and commercialize phytocannabinoid-based pharmaceutical products. It is involved in the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance. In particular, Cannabis Science Inc focuses on the development of government-approved pharmaceuticals, including CS-TATI1, CS-S/BCC-1 and neurological therapy under study or development. Its subsidiaries include Cannabis Science BV and Cannabis Science International Holding BV.
In a press release last week, Cannabis Science Inc announced that it has entered into a collaborative research agreement with Dana Farber/Harvard Cancer Center which lays the foundation for a cooperative research initiative to explore and develop new cannabinoid medicines to fight cancer. It also marks the first step in the development of clinical trials that will lead to approval of successful cannabinoids by the FDA.
We believe that collaborative cutting-edge work is the most powerful approach in fighting cancer. This collaborative agreement brings together the expertise of a leading Cannabis Research Company, Cannabis Science, and the research strength of Dana Farber/Harvard Cancer Center. I can see how this collaboration with Cannabis Science will grow as we work together for commercialization of joint research successes, with ultimate goal of translating these successes to benefit cancer patients in the USA and across the globe,” stated Professor Wilfred Ngwa, PhD., Director, Global Health Catalyst, Dana Farber/Harvard Cancer Center.
He went on to say that the goal of the research agreement is to develop and investigate the use of Cannabinoids in the treatment of a variety of cancers, and investigate the synergistic impact of cannabinoids when used together with standard and novel anti-cancer regimens. They aim to refine cannabinoid therapeutics and optimize standard and novel anti-cancer treatments, including those that train the immune system to fight cancer metastasis or the spreading to other parts of the body. Metastasis accounts for over 90% of cancer deaths and associated pain and suffering so success in their research ver 90% of cancer deaths and associated pain and suffering.
Findings from this collaborative research will be expeditiously submitted to leading peer-reviewed journals, and resulting publications will be widely disseminated to the public. Publications will be jointly authored with authorship credits based on contributions, as per academic standards and customs. Additionally, any treatments, inventions conceived, and other intellectual property that is the result of this collaboration will be jointly owned by the CBIS and DF/HCC, and this includes patents on medications and delivery methods,” added Dr. Allen A. Herman, Chief Medical Officer of Cannabis Science Inc.
Cannabis Science Inc CEO Raymond Dabney also mentioned that this agreement could set up a breakout year for the company, following the opening of a new pilot facility for the development and manufacturing of cannabinoid drug in Douglas County.
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