Cannabis Science Inc (OTCMKTS:CBIS) reported a Historic Collaborative Drug Development agreement with IGXBio and its GenePro®, that recently obtained FDA IND approval to start with human trials. The companies need to design a joint protocol to show potential synergistic impact of their respective drug candidates in HIV, and potential new drug candidates.
The expert comments
Mr. James Laufenberg, the President and CEO of IGXBio, said that they are excited about the recently announced deal with Cannabis Science. It is a company with similar values as their fulfilling the unmet needs of ‘HIV’ positive patients. The technology GenePro® has been published in more than 150 scientific journals and is developed to release an anti-HIV immune response to support virus control in HIV-infected patients.
The pre-clinical progress to date has been principally funded by NIH grants amounting to $21 million. The deal with Cannabis Science is finalized to formulate new medications for clinical development and commercialization apart from using GenePro® in a Phase I and IIa clinical trial. The main aim of the study is to lower or eliminate inflammation along with HIV viral replication so that extend and health of lives of HIV people can be improved.
Mr. Raymond C. Dabney, who is the Chief Executive Officer of Cannabis Science, said that the deal between with IGX Bio is planned to help offer new insights into the role of therapeutic vaccination and inflammation of HIV as a major step for optimizing useful treatments for AIDS patients in a range of resource settings. These trials will offer a scientific evaluation of CS-TATI-1 and GenePro® to show both the increased potential of therapeutic vaccination as well as the anti-inflammatory effects of CBD to halt disease progression in AIDS patients.
In last trading session, the stock price of Cannabis Science Inc (OTCMKTS:CBIS) declined more than 1% to close the trading session at $0.0280. The decline came at a share volume of 2.20 million compared to average share volume of 4.34 million.