CURE Pharmaceutical Launches Psychedelic Oral Film Program Targeting the Treatment of Mental Health Disorders
OXNARD, Calif.--(BUSINESS WIRE)-- CURE Pharmaceutical Holding Corp. (“CURE” or the “Company”) (OTC: CURR), a vertically integrated drug delivery and product development company, announced today that it has launched a new initiative for the clinical development of psychedelic compounds such as psilocybin, LSD, and MDMA for the treatment of various mental health disorders.
Utilizing CURE’s patented oral film platform CUREfilm® for precision dosing, the company intends to optimize the absorption and metabolism of psychedelic actives targeting clinical efficacy of both macrodosing and microdosing treatment regimens. CURE will use its DEA Schedule 1 license and cGMP-certified and FDA-registered facility providing a United States footprint for anticipated commercialization.
“Our specialty pharmaceutical pipeline is robust, protected by our IP and differentiated relative to others developing psychedelics,” said Rob Davidson, CEO of CURE. “Through innovation and selective diversification, we are confident that these new psychedelic programs and our corresponding product development efforts will open many doors to research advancement and new patient solutions. These programs not only broaden our internal pipeline but are also reflective of CURE’s focus on treatments for critical disease states including central nervous system disorders, viral infections, and now the serious burden of mental health disorders as well.”
Ongoing research, which has been active for decades, continues to showcase a growing body of evidence in support of psychedelics as effective treatments for mental health disorders such as depression, PTSD, addiction disorders, obsessive compulsive disorder, and anxiety. For example, in 2017, the US Food and Drug Administration (FDA) recognized the potential benefits of MDMA by assigning a Breakthrough Therapy Designation to an MDMA-assisted therapy to treat PTSD. In 2019, The Johns Hopkins University launched the “Center for Psychedelic and Consciousness Research.”
“We are dedicated to applying our film technology to leading compounds in high-impact, unmet need areas. Advancing these psychedelic product development programs helps ensure our end-goal of targeting those patients who would have otherwise been left without an important treatment option. We plan to advance our programs in a strategic, thoughtful, and fiscally-responsible way,” said Jonathan Berlent, CURE Chief Business Officer.
A recent study published by Data Bridge Market Research states that the legal U.S. psychedelic drug market is projected to grow at 16.3% CAGR from 2020 to 2027 and is expected to reach approximately $6.8 billion by 2027, up from $2 billion in 2019.
About CURE Pharmaceutical Holding Corp.
CURE Pharmaceutical® is the pioneering developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate- and controlled-release drug delivery vehicles designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients.
As a vertically integrated company, CURE’s 25,000 square foot, FDA-registered, NSF® and cGMP-certified manufacturing facility enables it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURE has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe.
Forward Looking Statement
Statements CURE makes in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. CURE intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and is making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements include, without limitation, the ability to successfully market the partnered products, the difficulty in predicting the timing or outcome of related research and development efforts, partnered product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect CURE’s judgment as of the date of this press release. CURE disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Chief Business Officer
Plum Tree Consulting LLC
Source: CURE Pharmaceutical Holding Corp.