Algae Dynamics Corp Announces Research Agreement With University of Western Ontario Algae Dynamics announces a development agreement with Western University to do research on cannabis oil in the context of depression, post-traumatic stress disorder & schizophrenia.
BigNews.Biz - Mar 15,2017 - Toronto, Canada -- ALGAE DYNAMICS CORP (OTCQB: ADYNF) (the "Company"), a development stage company focused on the development of unique health products and pharmaceuticals utilizing cannabis and algae oils, today announced a research and product development agreement with Western University to perform research on cannabis oil and its constituents in the context of depression, post-traumatic stress disorder, anxiety and schizophrenia. This is the second of the recently announced research agreements with Canadian universities involving cannabis oil research. This announcement brings Algae Dynamics total university research contributions to $1.6 million for both programs.
This announcement follows the Company's previously announced new strategic initiative to explore the extraction of oils from other botanicals, most notably cannabis, and to seek product development and formulation opportunities that combine the benefits of algae and cannabis oils. This research agreement will directly support this initiative and will "focus on translational pharmaceutical research, with a specific focus on identifying how specific phytochemical compounds found in cannabis, including delta-9-tetrahydrocannbinol (THC), cannabidiol (CBD), cannabinoid-derived terpenoids and other potential phytochemical derivatives of cannabis may serve as novel pharmacological treatments for symptoms associated with depression, post-traumatic stress disorder, anxiety and schizophrenia."
Paul Ramsay, Chairman and President of the Company said, "With this research agreement, we are building upon the previously announced strategic initiative into the use of extracts from cannabis oil, in conjunction with algae oil, to develop unique health products and formulations. In our previous press release, we outlined a three-part approach, the first being Research and Development work with Canadian universities. This is the second of such research agreements relating to the use of botanical extracts including cannabinoids that we expect to employ".
The investigator leading the research is Dr. Steven Laviolette, a Professor and Neuroscientist in the Schulich School of Medicine & Dentistry at Western University. Dr. Laviolette is a leader in the study of cannabinoids in mental health. Dr. Laviolette's research team has previously made numerous fundamental discoveries related to how cannabinoids impact and may serve as treatments for mental health disorders including schizophrenia, depression, post-traumatic stress disorder and anxiety. Dr. Laviolette's primary research focus is in characterizing how specific phytochemical derivatives of cannabis may interact with specific brain pathways and molecular mechanisms whereby they may improve symptoms associated with various mental health disorders. Research from Dr. Laviolette's team has been published in the top neuroscience and psychiatry journals in the world. His full profile may be seen on the Western University, website http://www.uwo.ca:
The Company's contribution to the four-year Sponsored Research Agreement, which commences April 1, 2017 and terminates March 30, 2021, is C$250,000 per year. The Company believes, from past experience, that it will be able to leverage the research expenditures with matching scientific grants pursuant to programs of various branches of government. The Company will be responsible for the filing of patents relating to this research and will own such patents if and when issued. The Company has agreed to make payments to the University upon filing of each patent, when each patent