Exclusive Agreement Fuses Cutting Edge Science and Know How with Patented Delivery Methods; Company Expects to Compete in All Medical Sectors of Burgeoning Global Cannabis Industry
COLORADO SPRINGS, Colorado, Sept. 16, 2014 /PRNewswire/ — Cannabis Science, Inc. (OTC: CBIS), a U.S. Company specializing in cannabis formulation-based drug development and related consulting, is pleased to announce the signing of a globally-exclusive, collaborative agreement with multinational company Unistraw Holdings Pte. Ltd. (Unistraw). The agreement provides for the immediate commencement of proprietary formulation to deliver cannabis and hemp extracts and pure cannabinoid-based products using the patented Unistraw Delivery System (UDS). With the successful outcome of effective formulations, Cannabis Science and Unistraw have agreed to form a joint venture to further refine, develop, and bring to market a variety of proprietary cannabis, hemp, and cannabinoid-based nutraceutical and pharmaceutical products. Concurrently, the Companies will share in the development of new intellectual property and novel advancements of the venture.
"We believe Cannabis Science’s collaboration with Unistraw may be one of the most significant milestones in cannabis medical industry," said Dorothy H. Bray, Ph.D., Director, President and CEO of Cannabis Science, Inc. "We expect our ultimate products to be highly competitive in every sector of the world’s current and future regulated cannabis industry not only because of the unique, high-quality formulations and delivery methods but also because of the expected precision of dosing of active ingredients for medical uses," added Mr. Suchet Rastogi, CEO of Unistraw Holdings Pte. Ltd.
The agreement — entitled the Head of Joint Venture Viability and Operating Agreement — sets forth the developmental path and the follow-on joint venture creation mechanism, to be owned 50.1% by Cannabis Science and 49.9% by Unistraw. The UDS is a patented system broadly covering straw-like devices containing stabilized spherical pellets of formulated product that dissolve gradually and predictably in liquids, thereby continually releasing precise doses of active ingredients throughout the drinking process. The technology can be used to deliver nutritional and therapeutic compositions including pharmaceutical medications in a taste-positive and novel manner. Formulated ingredients may be consumed through drinking a variety of liquids, including water, soda, and juices. It is expected that Cannabis Science will contribute to this joint venture its IP based products under development in the area of neurological conditions including sleep disorders thereby ensuring precise delivery.
The collaboration with Unistraw brings bi-directional value to other activities that Cannabis Science is pursuing, such as the Company’s investment in Michigan Green Technologies, Inc. and other projects of the Company in the United States, Canada, Spain, and the Netherlands.
With headquarters located in Singapore and primary manufacturing in India, Unistraw operates in a multicultural model with key executives based in different places around the globe, such as the United States, New Zealand, Australia, Kazakhstan, Colombia and Brazil. Unistraw has numerous design rights and trademarks for drinking straw technology. The basis of this technology stems from the Australian invention in 1996, when Peter Baron was searching for an optimal way to encourage his grandchildren to drink milk. This has let to the development of a prototype bead-in-straw delivery device. Now after years using the world as a global testing platform, investing millions of dollars into building prototype filling machines, creating international brands, testing consumer acceptance, building manufacturing capability, and lodging patents and trademarks, Unistraw is marketing and developing products in the nutraceutical and pharmaceutical markets utilizing its proprietary technology where taste is king and healthy ingredients are queen. Underpinning these attributes are ingredients with scientifically validated health or functional benefits. The sum is what Unistraw terms "authentic health".
About Cannabis Science, Inc.
Cannabis Science, Inc. takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment of illnesses caused by infections as well as for age-related disease. Our initial focus is on skin cancers, neurological conditions, and licensing of Company knowhow to partners worldwide.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc., does not undertake any duty nor does it intend to update the results of these forward-looking statements.
Robert Kane, CFO & Director
Cannabis Science, Inc.
Raymond C. Dabney, Management Consultant, Co-Founder