VANCOUVER, British Columbia, Jan. 26, 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 signed a consulting agreement with the Universitat de Barcelona (the “University of Barcelona” or the “University”), Faculty of Pharmacy and Food Sciences, Laboratory of Medicinal Chemistry, of Barcelona, Spain.
By virtue of this agreement, Professor Maria Carmen Escolano, a full professor at the University’s Unit of Medicinal Chemistry in the Faculty of Pharmacy and Food Sciences, and her team will provide technical guidance for the in vitro development of Akome’s psychedelic based bioactive compounds targeting Major Depressive Order, Stroke, Parkinson’s Disease and Alzheimer’s Disease.
The University of Barcelona, Faculty of Pharmacy and Food Sciences, Laboratory of Medicinal Chemistry, has been selected by Akome as the successful candidate organization to provide technical guidance for the necessary in vitro studies of its proposed pharmaceutical psychedelic drug formulations.
Conducting in vitro studies is essential in the development of any new pharmaceutical drug. In vitro studies determine whether a pharmaceutical candidate produces the desired changes on cell cultures as an early indicator of efficacy. These studies are usually completed quickly and are designed based on information already presented in the provisional patents that have been filed by Akome.
Professor Escolano received her PhD from the University of Barcelona in 1993. Upon completion, she undertook research posts at the University College of London and Kingston University (UK) working in the synthesis of complex molecules with biological interest. Professor Escolano currently serves as a full professor at the Unit of Medicinal Chemistry in the Faculty of Pharmacy and Food Sciences, a post she has occupied for the last 14 years.
Professor Escolano leads the medicinal research group at the Universitat de Barcelona. The focus of this research group is the pharmacology of neurodegenerative diseases. Professor Escolano and her group have conducted in vitro development of multiple candidate substances for the treatment of neurological conditions. Professor Escolano is a renowned authority in the field, with over 95 publications in textbooks and peer-reviewed scientific journals. Akome is looking forward to the advancement of its pipeline of bioactive compounds specifically those targeting the neurodegenerative diseases, Parkinson’s and Alzheimer’s.
“We are excited to announce our contract with the University of Barcelona, Faculty of Pharmacy and Food Sciences, Laboratory of Medicinal Chemistry,” stated Joel Shacker CEO of the Company. “Professor Escolano and her team have an enormous amount of experience, and knowledge of the targeted diseases, and the research acumen that will allow Core One to efficiently move forward with the more in-depth in vitro and in vivo studies that are necessary in effectively mapping out development of pre-clinical trials.”
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.
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
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.