PreveCeutical Enters into License Option Agreement with Endosane Pharmaceuticals

PreveCeutical Medical Inc. is pleased to announce that it has entered into a License Option Agreement with Endosane Pharmaceuticals GmbH (“Endosane”), a subsidiary of Sanity Group, dated January 10, 2023, pursuant to which Endosane has been granted an option to license the sol-gel technology for the delivery of cannabinoid products on an exclusive basis (the “Option Agreement”).

The purpose of the Option Agreement is for Endosane to evaluate the bioavailability of cannabinoids with the sol-gel technology. It is expected that the use of the technology will result in significantly improved cannabinoid uptake compared to conventional dosage forms.  Endosane is currently in phase 2B of a clinical trial program for its cannabinoid pharmaceutical product for schizophrenia treatment.

Endosane is engaged in the discovery, development and commercialization of drugs and pharmaceutical products for the treatment of various indications through direct or indirect targeting of the human endocannabinoid system.

Max Narr, Managing Director of Endosane, commented: “We are very pleased that PreveCeutical Medical has entrusted us with their technology for further targeted investigation. While we will first have to wait and see whether the previous assumptions reflect those results from corresponding studies, we are optimistic that this technology will be a decisive step forward in the development of our drugs.”

Stephen Van Deventer, CEO and Chairman of PreveCeutical, commented, “We are confident that the agreement with Endosane will help facilitate our path to commercialization and revenues. Subject to successful evaluation, Endosane will be using PreveCeutical’s technology to advance from Phase 2 to Phase 3 of its clinical trial program for its cannabinoid pharmaceutical product for schizophrenia treatment – if successful, we believe this would increase the value of our sol-gel technology and ultimately be beneficial to both companies.”.