POTOMAC, Md., September 21, 2022–(BUSINESS WIRE)–India Globalization Capital, Inc. (“IGC” or the “Company”) (NYSE American: IGC) announced today that the United States Patent and Trademark Office (“USPTO”) issued a second patent (#11,446,276) for the treatment of Alzheimer’s disease entitled “Extreme low dose THC as a therapeutic and prophylactic agent for Alzheimer’s disease.”

The original patent application was initiated by the University of South Florida (“USF”) and filed on July 30, 2015. On May 25, 2017, IGC entered into an exclusive license agreement with USF with respect to the patent application and the associated research conducted on Alzheimer’s disease. On January 9, 2020, the patent application was modified by the Company. Separately, on July 22, 2021, IGC announced the grant of the first patent (11,065,225) for some of that research and work. This new patent is for a continuation of that work.

The Company’s subsidiary, IGC Pharma, used some of the research to develop an oral formulation, IGC-AD1. Based on the USF research on Alzheimer’s cell lines, subject to further testing and clinical trials, testing indicates that on a dose dependent manner, the active agents in IGC-AD1 may ameliorate Aß plaque and decrease ptau, a phosphorylated protein responsible for tangles in neurons. Plaques and tangles are key hallmarks of Alzheimer’s disease. Further, testing in an Alzheimer’s mouse model showed that it improved memory as demonstrated in a Morris Water Maze test.

Based on these promising results, we initiated a Phase 1 study on safety and tolerability and in that study discovered that IGC-AD1 at specific dosing regimens had the potential to modify agitation and other neuropsychiatric symptoms in patients with Alzheimer’s dementia. Encouraged by this, our short term focus shifted to further testing IGC-AD1 as a therapeutic for treating neuropsychiatric synmptoms in Alzheimer’s, more specifically agitation. The Company recently filed a Phase 2 protocol with the U.S. Food and Drug Administration (“FDA”) for further clinical testing of the efficacy of IGC-AD1 on agitation in mild to severe Alzheimer’s.

Currently, there are no FDA approved pharmacological treatments for agitation in dementia from Alzheimer’s and about 70% of Alzheimer’s patients suffer from agitation/aggressiveness. The Company is hopeful that, subject to further trials and FDA approval, IGC-AD1 can provide relief for some of the over 55 million Alzheimer’s patients worldwide.

About IGC:

IGC has two segments: Life Sciences and Infrastructure. The Company is based in Maryland, U.S.A.

Forward-looking Statements: This press release contains forward-looking statements. These forward-looking statements are based largely on IGC’s expectations and are subject to several risks and uncertainties, certain of which are beyond IGC’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the Company’s failure or inability to commercialize one or more of the Company’s products or technologies, including the products or formulations described in this release, or failure to obtain regulatory approval for the products or formulations, where required; general economic conditions that are less favorable than expected, including as a result of the ongoing COVID-19 pandemic; the FDA’s general position regarding cannabis- and hemp-based products; and other factors, many of which are discussed in IGC’s SEC filings. IGC incorporates by reference the human trial disclosures and Risk Factors identified in its Annual Report on Form 10-K filed with the SEC on June 23, 2022, and Quarterly Report on Form10-Q, filed with SEC on August 5, 2022, as if fully incorporated and restated herein. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220921005448/en/

Contacts

Claudia Grimaldi (301-983-0998)

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

June 22, 2022, 11:26 PM EDT

POTOMAC, Md.–(BUSINESS WIRE)–India Globalization Capital, Inc. (“IGC” or the “Company”) (NYSE American: IGC) announces its financial results for Fiscal Year Ended March 31, 2022.

Highlights for Fiscal 2022:

IGC completed the first-in-human safety and tolerability trial on its tetrahydrocannabinol (THC) based investigational new drug IGC-AD1. During the trial, the Company discovered positive signals for improving several neuropsychiatric symptoms including agitation in dementia associated with Alzheimer’s. Based on these signals, we are initiating a larger efficacy trial to test IGC-AD1 as a symptom modifying agent, specifically on agitation in dementia due to Alzheimer’s disease.

The Company recently acquired rights to a family of naphthalene monoimide (“NMI”) molecules. TGR-63, a lead NMI molecule, is an enzyme inhibitor that has been shown in pre-clinical trials to reduce neurotoxicity in Alzheimer’s cell lines and improve memory in an Alzheimer’s mouse model. Subject to further study, research, and development, TGR-63 could give the Company a potential disease modifying agent and help expand the Company’s pursuit of a drug that can potentially treat or modify Alzheimer’s.

The Company licensed a patent filing from the University of South Florida titled “Ultra-Low dose THC as a potential therapeutic and prophylactic agent for Alzheimer’s Disease.” The U.S. Patent and Trademark Office (“USPTO”) issued a patent (#11,065,225) for this filing on July 20, 2021. The granted patent relates to IGC’s proprietary formulation, IGC-AD1, intended to assist in the treatment of individuals living with Alzheimer’s disease.

On June 7, 2022, the USPTO issued a patent (#11,351,152) to the Company titled “Method and Composition for Treating Seizures Disorders.” The patent relates to compositions and methods for treating multiple types of seizure disorders and epilepsy in humans and animals using a combination of cannabidiol (CBD) with other compounds. Subject to further research and study, the combination is intended to reduce side effects caused by hydantoin anticonvulsant drugs such as phenobarbital, by reducing the dosing of anticonvulsant drugs in humans, dogs, and cats.

Revenue was approximately $397 thousand and $898 thousand for Fiscal 2022 and Fiscal 2021, respectively. In Fiscal 2022 and Fiscal 2021, revenue was primarily derived from our Life Sciences segment, which involved sales of in-house brands and alcohol-based hand sanitizers, among others. In Fiscal 2022, we de-emphasized the manufacturing and sale of low margin hand sanitizers and shifted our focus to higher margin white label services and the sale of products under our brands. This increased our gross margin from 12% in Fiscal 2021 to 48% in Fiscal 2022. The infrastructure segment had lower revenue in Fiscal 2022 due to the continued impact of the COVID-19 pandemic.

Selling, general, and administrative (“SG&A”) expenses consist primarily of employee-related expenses, sales commission, professional fees, legal fees, marketing, other corporate expenses, allocated general overhead and provisions, depreciation, and write offs relating to doubtful accounts and advances, if any. SG&A expenses increased by approximately $5.3 million or 68% to $13.2 million for Fiscal 2022, from approximately $7.9 million for Fiscal 2021. The increase is attributed to one-time expenses, which include law-suit settlement expenses of approximately $264 thousand; impairment of facility of $833 thousand; net realizable value (NRV) adjustment of $1.7 million for our hemp crop; approximately $475 thousand in provisions for advances paid; approximately $1.7 million in provisions against inventory that was stolen at our vendor’s facility; and an increase of approximately $1.3 million attributable to non-cash expenses. Adjusting for approximately $5.3 million in one-time and non-cash expenses, the SG&A for fiscal year 2022 was lower year over year by approximately $500 thousand.

Research and Development (“R&D”) expenses were attributed to our Life Sciences segment. The R&D expenses increased by approximately $1.4 million or 151% to $2.3 million in Fiscal 2022, from approximately $929 thousand for Fiscal 2021. The increase is attributed to the now completed Phase 1 clinical trial on Alzheimer’s. We expect R&D expenses to increase with progression in Phase 2 trials on IGC-AD1 and pre-clinical trials on TGR-63.

Net loss for Fiscal 2022 was approximately $15 million or $0.30 per share, compared to approximately $8.8 million or $0.21 per share for Fiscal 2021. Adjusting for approximately $5.3 million in one-time and non-cash expenses, the net loss is approximately $9.7 million in Fiscal 2022.

About IGC:

IGC has two segments: Infrastructure and Life Sciences. The company is based in Maryland, U.S.A.

Forward-looking Statements: This press release contains forward-looking statements. These forward-looking statements are based largely on IGC’s expectations and are subject to several risks and uncertainties, certain of which are beyond IGC’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the Company’s failure or inability to commercialize one or more of the Company’s products or technologies, including the product or formulation described in this release, or failure to obtain regulatory approval for the product or formulation, where required; general economic conditions that are less favorable than expected, including as a result of the ongoing COVID-19 pandemic; the FDA’s general position regarding cannabis- and hemp-based products; and other factors, many of which are discussed in IGC’s SEC filings. IGC incorporates by reference the human trial disclosures and Risk Factors identified in its Annual Report on Form 10-K filed with the SEC on June 22, 2022, as if fully incorporated and restated herein. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will occur.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

BETHESDA, Md., June 21, 2022–(BUSINESS WIRE)–India Globalization Capital, Inc. (NYSE: IGC) is excited to announce that one of its subsidiaries reached an Intellectual Property (IP) license agreement for a potential Alzheimer’s drug development candidate.

Researchers at the Jawaharlal Nehru Centre for Advanced Scientific Research (“JNCASR”), in India, conducted about 10 years of research and discovery work on NMI (Naphthalene Monoimide) compounds and the role of NMI compounds on neurotoxicity associated with Alzheimer’s. Neurotoxicity, which can result from exposure to natural or synthetic substances, causes damage to the brain and the nervous system. In Alzheimer’s patients, neurotoxicity is linked to beta amyloid (Aβ) plaques and Neuro Fibrillary Tangles (NFT).

JNCASR’s research based on Alzheimer’s cell lines, identified one lead NMI molecule, TGR 63, with the potential to reduce beta amyloid (Aβ) plaques. Further, they demonstrated that the molecule reduces cognitive decline in a transgenic mouse model of Alzheimer’s. Their results were published in Advanced Therapeutics under the title “Naphthalene Monoimide Derivative Ameliorates Amyloid Burden and Cognitive Decline in a Transgenic Mouse Model of Alzheimer’s Disease” on January 28, 2021.

IGC acquired exclusive global rights to the molecule and plans to develop this NMI lead candidate further. IGC is currently in human trials with IGC-AD1 that targets neuropsychiatric symptoms associated with dementia in Alzheimer’s. It is currently being evaluated as an Alzheimer’s symptom modifying agent. TGR-63, the new molecule, strategically, gives the Company a potential disease modifying agent and positions the Company to develop a drug that can potentially treat or modify Alzheimer’s by targeting beta amyloid (Aβ) plaques.

According to the World Health Organization (2020), worldwide, about 55 million individuals suffer from dementia, and about 60-70% of dementia is related to Alzheimer’s. This number is projected to increase to about 78 million individuals in 2030, with the estimated total global societal cost of dementia expected to surpass $2.8 trillion by 2030.

About JNCASR:

Jawaharlal Nehru Centre for Advanced Scientific Research, located in Bengaluru, India, is an autonomous institution under the Department of Science and Technology, Government of India. https://www.jncasr.ac.in/home

About IGC:

IGC has two segments: Infrastructure and Life Sciences. The company is based in Maryland, U.S.A.

Forward-looking Statements:

This press release contains forward-looking statements. These forward-looking statements are based largely on IGC’s expectations and are subject to several risks and uncertainties, certain of which are beyond IGC’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the Company’s failure or inability to commercialize one or more of the Company’s products or technologies, including the product or formulation described in this release, or failure to obtain regulatory approval for the product or formulation, where required; general economic conditions that are less favorable than expected, including as a result of the ongoing COVID-19 pandemic; the FDA’s general position regarding cannabis- and hemp-based products; and other factors, many of which are discussed in IGC’s SEC filings. IGC incorporates by reference the human trial disclosures and Risk Factors identified in its Annual Reports on Form 10-K filed with the SEC on June 14, 2021, and Quarterly Reports on Form 10-Q, filed with the SEC on August 11, 2021, and October 29, 2021, as if fully incorporated and restated herein. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220620005637/en/

Contacts

Claudia Grimaldi
301-983-0998

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

VANCOUVER, British Columbia, March 04, 2022 (GLOBE NEWSWIRE) — Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) is pleased to announce that its wholly owned subsidiary Akome Biotech Ltd. (“Akome”), has entered into an agreement with the Universidad Complutense de Madrid (“Universidad Complutense”), officially commencing neurogenesis stimulation and modeling studies research, to advance the development of the Company’s patent pending psychedelic bioactive compounds that target Alzheimer’s Disease, Parkinson’s Disease, Major Depressive Disorder and Ischemic Stroke.

Neurogenesis is the ability of the brain to grow new neurons. Until recently, neuroscientists believed that the central nervous system, including the brain, was incapable of neurogenesis and unable to regenerate. However, research conducted over the last two decades confirms, not only that adult neurogenesis is a normal process that occurs in the healthy brain, but also that it can be enhanced by psychedelics among other potent stimulants. Neurogenesis is considered important in neuroplasticity, the ability of the brain to form new connections and pathways and change how its circuits are wired. Through Akome’s initial data mapping of how psychedelic substances and selected bioactive substances cooperate, there is potential for significant stimulus in adult neurogenesis in the brains of individuals that are afflicted with certain neurological disorders, and Akome’s research with Universidad Complutense seeks to prove that its chosen bioactive-compounds can enhance such processes.

The research, which is currently underway, is being led by Dr. Jose A. Morales-Garcia, PhD, of the Universidad Complutense de Madrid, a leading institution with extensive experience in psychedelics research, and neurodegenerative processes responsible for conditions such as Alzheimer’s disease, Major Depressive disorder, Parkinson’s disease and ischemic stroke. The scope of research is designed to advance the Company’s hypothesis that the selected candidate bioactive compounds included in its patent submissions, are viable candidates and will react positively upon targets in the Central Nervous System, and have the potential to stimulate neurogenesis in the brain of individuals afflicted with neurological disorders, and subsequently result in groundbreaking clinical implications for the indications of Ischemic stroke, Alzheimer’s disease, Major Depressive disorder and Parkinson’s disease.

Dr. Morales is an Assistant Professor and Honorary fellow in the Cellular Biology Department at the Complutense University of Madrid, Medical School, a scientist at the Center for Networked Biomedical Research on Neurodegenerative Diseases, as well as a professor in the Master of Pharmacological Research at the Autonoma University of Madrid. Dr. Morales has over 40 scientific publications in peer-reviewed journals.

Dr. Morales has a vast research background in the identification and analysis of new cellular targets implicated in neurogenesis and neurodegeneration as well as focused work in the study in vitro and in vivo of the mechanism underlying neurodegenerative disease, mainly Alzheimer´s and Parkinsonism in order to develop new neuroprotective, anti-inflammatory and neurogenic compounds for the treatment of these disorders.

“I believe that the treatment of individuals with neurological disorders through the use of psychedelic based pharmaceuticals, will become a major focus of mental healthcare in the near future. The groundbreaking work that Universidad Complutense is doing for Akome, will contribute significantly to the advancement of our drug formulations as we work to commercialize our patents. By developing unique psychedelic based pharmaceutical formulations that can be used for the treatment of Alzheimer’s, Parkinson’s, Depression and Ischemic Stroke, the Company is positioning itself to serve a larger and more diverse patient base,” stated Joel Shacker, the Company’s CEO.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker
Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:
[email protected]
1-866-347-5058

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

The clinical trial will be conducted at The Israeli Alzheimer’s Medical Center and will evaluate the safety, tolerability and efficacy of SCI-110 in patients with Alzheimer’s disease and agitation

TEL AVIV, Israel, Jan. 6, 2022 /PRNewswire/ — SciSparc Ltd. (NASDAQ: SPRC) (the “Company”), a clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced that The Israeli Medical Center for Alzheimer’s has recruited the first patient to participate in the Company’s Phase IIa clinical trial that will evaluate the safety, tolerability and efficacy of SCI-110 in patients with Alzheimer’s disease and agitation using the Company’s proprietary cannabinoid-based technology.

The trial’s primary objective is evaluating the safety of SCI-110 and the secondary objective is evaluating the ability of the compound to ameliorate agitation and other behavioral disturbances in patients with Alzheimer’s disease.

The trial, titled “Clinical Study Protocol Phase II-a open label trial to evaluate the safety, tolerability and efficacy trend of SCI-110 in patients with Alzheimer Disease and agitation,” will be conducted at the Sophie & Abraham Stuchynski Israeli Alzheimer’s Medical Center, Ramat-Gan, Israel.

The drug product SCI-110 is a unique proprietary combination of Dronabinol (synthetic delta-9-tetrahydrocannabinol (Δ⁹-THC), and Palmitoylethanolamide (PEA).

Alzheimer’s disease is the most common type of dementia, accounting for over two-thirds of cases of dementia. Alzheimer’s disease is a neurodegenerative disease that causes progressive and disabling impairment of cognitive functions, including memory, comprehension, language, attention, reasoning and judgment. Symptoms of Alzheimer’s disease depend on the stage of the disease. Neuropsychiatric symptoms like apathy, social withdrawal, disinhibition, agitation, psychosis, insomnia, poor appetite and wandering are also common in the mid to late stages. Agitation is common in nearly 60% of patients with dementia, increases caretaker burden, creates safety risk for individuals with dementia and others and increases risk for hospitalization and nursing home placement. The current pharmacological treatment of agitation in Alzheimer’s disease has an unsatisfactory benefit/risk ratio and often involves using off-label drugs. Antipsychotic drugs, which are the most frequently used drugs for this purpose, are only marginally better than placebo. Moreover, the U.S. Food and Drug Administration has placed a “black box” warning on some of these drugs describing the risks.

“We are excited to achieve this important milestone of recruiting the first patient for our Phase IIa clinical trial. As the population of the world continues to age, Alzheimer’s disease is one of the most common diseases affecting the elderly, and subsequently the number of patients suffering from agitation also dramatically increases. Unfortunately, patients have very limited efficient treatments available today and those available can cause side effects, like drowsiness, rigidity and unusual movements. Studies have linked some of these to a higher risk of death for people with dementia. We are hoping our innovative treatment will provide patients and their families, with an efficient treatment option,” said Dr. Adi Zuloff-Shani, PhD, Chief Technology Officer of the Company.

About SciSparc (NASDAQ: SPRC):

SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette syndrome, for the treatment of obstructive sleep apnea and Alzheimer’s disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of autism spectrum disorder and epilepsy.

About The Israeli Medical Center for Alzheimer’s:

The Israeli Medical Center for Alzheimer’s (IMCA) is the only medical center in Israel exclusively devoted to the treatment of Alzheimer’s disease patients. IMCA was founded in 1994 as a public, not for profit foundation, and in July 2001 it opened as an active medical center. The IMCA treats hundreds of patients a year, as inpatients, outpatients and as part of its diagnosis and counseling services. Numerous studies are conducted at the center in collaboration with researchers at universities.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, SciSparc is using forward-looking statements when it discusses the potential safety, tolerability and efficacy of SCI-110 in patients with Alzheimer’s disease and agitation. The transaction described here may never be consummated and definitive agreement(s) may not be executed, and, if executed, such agreement(s) may be subject to conditions before it can be completed. In addition, the market for products contemplated by the letter of intent is in a period of regulatory and business uncertainty and financial and business results from such businesses are uncertain. Historic results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Because such statements deal with future events and are based on SciSparc’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of SciSparc could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in SciSparc’s Annual Report on Form 20-F filed with the SEC on March 30, 2021, and in subsequent filings with the U.S. Securities and Exchange Commission. Except as otherwise required by law, SciSparc disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

Investor Contact:
[email protected]
Tel: +972-3-6167055

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

VANCOUVER, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) — Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company”), a biotechnology research and development life sciences enterprise focused on advancing psychedelic medicines to market, is pleased to announce that it has entered into a definitive share purchase agreement (the “Definitive Agreement”), dated April 23, 2021, pursuant to which it will acquire all of the outstanding share capital of Akome Biotech Ltd. (“Akome”). The acquisition of Akome further positions the Company at the forefront of development of psychedelic drugs for neurological diseases and mental disorders.

Akome’s CEO, Dr. Santiago Ferro has extensive experience in leading clinical research teams and has been involved in all aspects of a start-up companies and product life cycle: from product development to clinical and regulatory strategies, to sales and marketing opportunities with companies such as Sanofi Pasteur, Novartis and Glaxo Smith Klein. Dr. Fadia Saad is a co-founder of Akome and the inventor of its patents.

The focus at Akome is to develop safe and efficacious treatments for stroke, Alzheimer’s disease, depression, and Parkinson’s Disease. 1The Global Stroke Management Market accounted for $22.5 billion USD in 2016, and is estimated to reach $36.7 billion by 2023, growing at a CAGR of 7.1%. 287% of strokes are ischemic strokes. An ischemic stroke happens when blood flow through the artery that supplies oxygen-rich blood to the brain becomes blocked. The current available treatment for acute ischemic strokes is the administration of the thrombolytic agent, tissue-plasminogen activator.

3Global Alzheimer’s Therapeutics Market is projected to reach USD 13.57 billion by 2027 from USD 7.42 billion in 2019 with a substantial CAGR of 9.2% through the forecast period. Currently there are no pharmacologic treatments available today to slow or stop the damage and destruction of neurons that cause Alzheimer’s. No drugs have been specifically approved by the FDA to treat behavioral and psychiatric symptoms that may develop in the moderate and severe stages of Alzheimer’s dementia.

4Depression affects more than 264 million individuals. It is an incapacitating disorder, responsible for the most of the 800,000 annual suicides. In 2008, WHO ranked major depression as the third cause of burden of disease worldwide and projected it will rank first by 2030.

5Parkinson’s disease is a global burden and more than doubled in the past decade. Nearly 1 million people live with Parkinson’s disease in the US and 10 million people worldwide. The Parkinson’s disease treatment market was valued at USD $3.99 billion in 2016, by 2022 it is expected to reach USD $5.69 billion. Currently, there is no cure for Parkinson’s disease, but there are some therapies available to relieve symptoms. Levodopa is main one drug used to make dopamine to replenish the brains dwindling supply by mimicking dopamine in the brain.

Joel Shacker, CEO of the Company stated, “This acquisition will put us at the forefront of research into the use of psychedelics for treatment across multiple diseases, elevating our company’s portfolio to be comparable with the largest company in the space. Akome’s seasoned management team has experience taking products from their development stage through commercialization. Their current pipeline of four provisional matter of composition patents have us very excited at their prospect of developing into commercial products to help people suffering with Alzheimer’s Disease, Stroke, Parkinson’s Disease and Depression, opening us up to a multibillion dollar treatment market.”

In consideration for all of the outstanding share capital of Akome, the Company is required to issue 3,500,000 common shares to the existing shareholders of Akome. Following issuance, the shares will be subject to the terms of a pooling arrangement, during which time they may not be transferred or traded without the prior consent of the Company.

The Company is at arms-length from Akome and each of its shareholders. The acquisition will not constitute a fundamental change for the Company, nor will it result in a change of control of the Company, with the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.
Joel Shacker
Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:
[email protected]
1-866-347-5058

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.