Allied Signs with Evoke Neurosciences to Partner on Treatment of PTSD
September 18, 2019 MJ Shareholders
September 18th, 2019
Kelowna, British Columbia–(Newsfile Corp. – September 18, 2019) – Allied Corp. (OTC Pink: ALID) (“Allied”), an international medical cannabis production company focused on creating and providing targeted cannabinoid health solutions, is pleased to announce its signing of a Letter Of Intent (“the LOI”) with Evoke Neurosciences (“Evoke”). Evoke’s eVox System generates an objective and automated report for clinicians and researchers to use as a baseline and to aid diagnosis and facilitate treatment planning for patients living with PTSD. Under the LOI, Allied would employ Evoke’s eVox System to assess the function of the Central and Autonomic Nervous System via EEG, ECG, and Event-Related Potentials (ERPs).
This data is collected via an easy-to-use, FDA-cleared, class 2 medical device that acquires patient data non-invasively in a clinical setting. With the eVox System, clinicians can establish a baseline of the patient’s brain function, monitor treatment effects and measure changes in brain function. Additionally, clinicians who use the eVox System have found that the objective data facilitates a greater buy-in from patients that can lead to increased patient adherence.
This mutually beneficial partnership between Allied and Evoke would be characterized by the following:
- Evoke could support Allied’s existing and planned clinical trials by providing pre- and post- treatment measurements of patients’ cognitive functions. The eVox system could be readily deployed for these efforts and Evoke would be able to train staff on how to operate the device to collect data. The eVox System reports would be automatically generated and be accessible via a web portal. Depending on the study objectives, Evoke could develop a custom report. Allied Corp. would publish the results of the clinical trial to further substantiate the utility of EEG, ERPs, and ECG as vital measures (biomarkers).
- Allied would develop a commercial package that pairs its therapy products with a pre- and post- treatment eVox assessment. This would help Allied differentiate its products to a clinician target market.
- Allied and Evoke could work together to expand their existing marketing efforts with respect to Veterans, PTSD patients and new markets (e.g. Pain management). Evoke has the capability to provide objective measures of PTSD and chronic pain that could be customized for the specific application.
“We are extremely excited to partner with Evoke,” said Calum Hughes, CEO of Allied Corp. “This partnership not only facilitates a greater understanding of PTSD, but it also accelerates the path to treatment for veterans and first responders. We believe that by utilizing the eVox technology, we would accumulate essential data that will aid in further developing a better therapeutic solution.”
About Evoke Neuroscience
Evoke Neuroscience was formed in 2009 with the mission to improve diagnosis and treatment of cognitive disorders with objective, clinically meaningful and easy-to-use products. Physicians use the eVox® System to acquire objective and stable biomarkers that may aid in the diagnosis of cognitive diseases such as dementia. Evoke was named one of the INC. 500/5000 fastest growing companies two years in a row.
About Allied Corp.
Allied Corp. is an international medical cannabis production company with a mission to address today’s medical issues by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.
This news release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “become”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Such forward-looking statements include, but are not limited to, that the company will be able to launch its proposed hemp-derived retail product line, TACTICAL RELIEF™, that such product will relieve symptoms caused by trauma, and that such products will be accepted by service members and first responders. We are subject to various additional risks as described in our SEC filings at www.SEC.gov.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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