Cannabics Pharmaceuticals Launches Psilocybin and Psilocin Research Program
TEL AVIV, Israel and BETHESDA, Md., April 20, 2021 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a global leader in the development of cancer related cannabinoid-based medicine, announced today the launching of a new research program using Psylocibin and Psilocin. The announcement comes after the company was able to obtain a license from the Israeli Ministry of Health to conduct scientific research using Psylocibin and Psilocin in the company's in-house laboratory facilities in Rehovot, Israel.
Eyal Barad, Cannabics Pharmaceuticals co-founder and CEO said: "We see the growing interest in psychedelic-based drug development, and we understand the potential of psychedelic-based medicine. We also believe that given our knowhow, experience and state of the art in-house drug discovery platform, we are well positioned to take advantage of this growing market opportunity. Accordingly, we have been working on the development of specific Psylocibin and Psilocin IP for various medical conditions and indications, and we are in the process of forming collaborations with leading research institutions as part of this new research program. Our objective is to buildout this activity as a separate business unit which may eventually become a new subsidiary."
About Cannabics Pharmaceuticals:
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S. public company and a global leader in the development of cancer related cannabinoid-based medicine. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer. For more information, please visit www.cannabics.com. For the latest updates on Cannabics Pharmaceuticals follow the Company on Twitter @Cannabics, Facebook @CannabicsPharmaceuticals, LinkedIn, and on Instagram @Cannabics_Pharmaceuticals.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our Company's management and are subject to significant risks and uncertainties. Actual results may differ from those outlined in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission including, without limitation, our latest 10-Q Report filed April 14th, 2021. We undertake no duty to update any forward-looking statement or any information contained in this press release or other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Cannabics Pharmaceuticals Inc., which are condoned by the Company, must emanate from the Company itself and bear our name as its source.
SOURCE Cannabics Pharmaceuticals Inc.
Company Codes: OTC-PINK:CNBX, OTC-QB:CNBX, OtherOTC:CNBX