Pascal Biosciences and SōRSE Technology Announce Partnership for Cannabinoid Drug Development and Cancer Clinical Trials

SEATTLE, WA and VANCOUVER, BC / ACCESSWIRE / September 14, 2020 / Pascal Biosciences Inc. (TSXV:PAS) (“Pascal”) and SōRSE Technology Corporation (“SōRSE”) have entered into a Collaborative Research Agreement (the “Agreement”) to advance Pascal’s PAS-393 into clinical testing. Pascal and SōRSE will share their respective technologies to test the cannabinoid PAS-393 in human volunteers, enabling testing of cancer patients treated with checkpoint inhibitors.

As initially announced last March, this partnership leverages SōRSE’s industry-leading formulation technology with Pascal’s proprietary cannabinoid programs for clinical trials. This will be the first pharmaceutical use of the novel formulation technology developed by SōRSE. The Agreement will include Pascal’s intellectual property, which covers the use of cannabinoids in cancer patients treated with checkpoint inhibitors.

SōRSE currently sells and licenses a proprietary water-soluble cannabinoid emulsion technology (patent-pending) that enables increased bioavailability, accurate dosing, and more than 12 months’ shelf stability. Pascal and SōRSE scientists will optimize a cannabinoid formulation for human subjects and will then test the formulated PAS-393 in volunteers. SōRSE will provide US$750,000 in research funding to Pascal throughout the 15-month collaboration and will pay for related research expenditures.

Following characterization of safety and pharmacology in a Phase 1a clinical trial, Pascal and SōRSE may elect to continue clinical development as equal partners in a Phase 1b cancer trial in combination with a checkpoint inhibitor. Dr. Gray will present scientific data this September 16th at the 3rd Annual International Cannabinoid-Derived Pharmaceutical Conference occurring in Boston, MA; the topic of his presentation is “Identifying and Validating Mechanism of Action In vivo/vitro.”

“This is an impressive step forward for both Pascal and SōRSE, and hopefully our product will be a significant help to patients,” commented Dr. Patrick Gray, CEO of Pascal. “This will be the first clinical trial for each company, and we look forward to a long, fruitful relationship.”

“At SōRSE, we’re driven by our mission to help people better their lives through superior cannabinoid ingredients and delivery methods,” said SōRSE CEO Howard Lee. “We were thrilled when Pascal reached out to us in the summer of 2019 asking to use our emulsion in their research study on immune recognition markers on cancer cells. Today, we are excited to continue to support pharmaceutical studies of cannabinoids with Pascal and other world-class researchers.”

SōRSE intends to collaborate with other researchers and product developers to study cannabinoids in other medical applications. Pascal will continue to pursue other non-cancer indications for PAS-393.

About Pascal Biosciences Inc.

Pascal is a biotechnology company targeting innovative therapies for serious diseases, including COVID-19. Pascal is also developing treatments for cancer with targeted therapies for acute lymphoblastic leukemia and cannabinoid-based therapeutics. Pascal’s leading portfolio also comprises a small molecule therapeutic, PAS-403, that is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy. For more information, visit www.pascalbiosciences.com.

About PAS-393

Pascal recently discovered the unique capacity of its cannabinoid drug, PAS-393, to reverse a common immune-evading strategy adopted by many metastatic cancers. Thus, treatment with PAS-393 may restore the ability of the immune system to recognize and eliminate cancer cells. This activity is especially important for immune checkpoint inhibitors, which depend upon immune recognition of cancer for their efficacy. Pascal is advancing PAS-393 as a combination therapy with checkpoint inhibitors for the 50% or more of cancer patients not currently helped by the checkpoint inhibitors.

About SōRSE Technology Corporation

SōRSE Technology Corporation is a water-soluble emulsion technology designed for product developers to provide consumers with a better, more consistent cannabinoid experience with greater bioavailability, near-perfect dosing, shelf-stability, and safe ingredients. Its patent-pending technology converts oil into SōRSE, a proprietary water-soluble emulsion, for infusing CBD and other functional ingredients into beverages, food items, topicals, and medical applications. SōRSE Technology currently powers more than 45 leading products in the CBD space.

ON BEHALF OF THE BOARD OF DIRECTORS

PASCAL BIOSCIENCES INC.
Dr. Patrick W. Gray, CEO

Investors:
[email protected]

Media Contact:
Julie Rathbun
[email protected]
Tel: 206-769-9219

ON BEHALF OF THE BOARD OF DIRECTORS

SōRSE TECHNOLOGY CORPORATION
Howard Lee, CEO

DISCLAIMER
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release”

SOURCE: Pascal Biosciences Inc.

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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.