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Wuhan Enters Mushroom Psychedelic Medicine Market

BARCELONA, Spain, April 05, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Wuhan General Group (China), Inc. (OTC PINK: WUHN) (the “Company” and “Wuhan”), announced today that its subsidiary MJ MedTech, Inc. (MJ MedTech) has created a new division dedicated to exploring opportunities in the psychedelic medicine space. The new division, M2BIO will be headed up by Wuhan’s CMO, Dr. Anna Morera Lorelta.

According to Dr. Anna, psychedelic medicine is experiencing a remarkable revival in the wake of recent research studies and positive findings from great institutions, such as Johns Hopkins. Researchers are having great success in treating depression, post-traumatic stress disorder (PTSD), anxiety and certain addictions with Psilocybin, the active naturally occurring psychedelic pro-drug compound produced by specific mushrooms, known as “magic mushrooms”.

Psilocybin therapy is a medical practice in which psilocybin, a psychoactive medicine, is administered to a patient during a session supported by a therapist. A psychoactive medicine is one that affects brain function and results in a change in cognition, perception or behavior.

”Psilocybin has become a very promising candidate for future treatments for anxiety and depression because it appears to disrupt the sorts of engrained brain activity patterns that are the hallmark of those diseases.” Said Dr. Anna.

“Just like it took time for the regulators to get behind marijuana, we believe the same will happen with “magic mushrooms” in due course. We want to be far ahead of the curve and become pioneers in the market, collaborating with legislative bodies to help find better and healthier solutions,” added MJ MedTech CEO, Jeff Robinson.

The new division, M2BIO aims to develop new therapies that will help patients who suffer from mental illness and ease the burden on healthcare systems globally. This division will be exploring additional indications for psilocybin, with the goal of bringing new therapies to market in the years to come.

About Wuhan General Group (China), Inc.

Wuhan General Group (China), Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that owns, develops and commercializes a range of CBD-based products. At Wuhan, our mission is to advance CBD-based medicine to the forefront by deploying best practice science and medicine, clinical research and emerging technologies.

For further information contact:

Publicly traded company (OTC Pink: WUHN)

Website: www.wuhn.org

Public Relations E-mail: info@wuhn.org

Forward-Looking Statements:

Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

Source: Wuhan General Group (China), Inc.

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AbbVie Announces New Formulary Listings for its Hepatitis C Treatment MAVIRET™

  • Alberta, Saskatchewan and their formularies

list MAVIRET on

 

  • MAVIRET is the first and only 8-week, pan-genotypic treatment for chronic hepatitis C patients without cirrhosis and who are new to treatment*1
  • MAVIRET is the only pan-genotypic treatment approved for use in patients across all stages of chronic kidney disease

 

 

MONTREAL, QC, April 4, 2019 – AbbVie (NYSE: ABBV), a global, research and development-based biopharmaceutical company, announced that MAVIRET™ (glecaprevir/pibrentasvir tablets) is now reimbursed in Alberta, Saskatchewan and the Non-Insured Health Benefits (NIHB) Program. MAVIRET is a once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus (HCV) infection across all major genotypes (GT1-6).2 It is the only 8-week, pan-genotypic treatment for patients without cirrhosis and who are new to treatment.*

 

“Hepatitis C is a public health issue that affects approximately 300,000 Canadians. Over time, chronic hepatitis C can lead to cirrhosis, liver cancer and death,” explains Dr. Samuel S. Lee, MD, Professor of Medicine and hepatologist at the University of Calgary. “In order to reach the elimination target set by the World Health Organization, we not only need concerted efforts by governments, health care

professionals and patient associations, but as well access to curative treatments like MAVIRET.”

 

In Alberta, MAVIRET is listed effective April 1, 2019, under Special Authorization on the AB Health Drug Benefit List for treatment-naïve or treatment-experienced adult patients with chronic hepatitis C infection who meet all of the following criteria3:

  1. Prescribed by or in consultation with a hepatologist, gastroenterologist or infectious disease specialist (except on a case-by-case basis, in geographic areas where access to these specialties is not available); AND
  2. Laboratory confirmed hepatitis C genotype 1, 2, 3, 4, 5, 6; AND
  3. Laboratory confirmed quantitative HCV RNA value within the last 6 months; AND
  4. Fibrosis stage of F0 or greater (Metavir scale or equivalent).

 

“Saskatchewan remains in the midst of a unique hepatitis C (HCV) epidemic, with many more young persons and women infected compared to the rest of Canada. Increased screening and testing is needed as many persons remain undiagnosed, and enhanced supports are required to link those diagnosed to treatment and care,” said Dr. Alexander Wong, MD, FRCPC, assistant professor of Infectious Diseases, University of Saskatchewan. “Having a new treatment option like MAVIRET, which can cure nearly all uncomplicated HCV-infected persons in only eight weeks, is a welcome and exciting addition to the drug formulary in Saskatchewan.”

 

In Saskatchewan, MAVIRET is listed effective April 1, 2019, on the Saskatchewan formulary as an Exception Drug Status (EDS) product, for treatment naïve and treatment experienced adult patients with chronic hepatitis C infection (regardless of fibrosis stage) according to the following criteria4:

  1. Laboratory confirmed hepatitis C genotype 1, 2, 3, 4, 5 or 6; AND
  2. Laboratory confirmed quantitative HCV RNA value within the last six months; AND
  3. Treatment is prescribed by a hepatologist, gastroenterologist or an infectious disease specialist or other prescriber experienced in the treatment of hepatitis C as determined by the Drug

 

For the Non-Insured Health Benefits program (NIHB), MAVIRET is listed effective April 1, 2019, under Limited Use on the NIHB Drug Benefit List for treatment-naïve or treatment-experienced adult patients with chronic hepatitis C infection who meet all of the following criteria:

  1. Prescribed by or in consultation with a hepatologist, gastroenterologist or infectious disease specialist (except on a case-by-case basis, in geographic areas where access to these specialties is not available); AND
  2. Laboratory confirmed hepatitis C genotype 1, 2, 3, 4, 5, 6; AND
  3. Laboratory confirmed quantitative HCV RNA value within the last 6 months; AND
  4. Fibrosis stage of F0 or greater (Metavir scale or equivalent).

 

The efficacy and safety of MAVIRET was evaluated in nine Phase 2-3 clinical trials, in over 2,300 patients with genotype 1, 2, 3, 4, 5 or 6 HCV infection and with compensated liver disease (with or without cirrhosis).

 

About MAVIRET™

MAVIRET™ is indicated in Canada for the treatment of chronic hepatitis C virus (HCV) infection in adults across all major genotypes (GT1-6).5 MAVIRET is a pan-genotypic, once-daily, ribavirin-free treatment that combines glecaprevir (100 mg), an NS3/4A protease inhibitor, and pibrentasvir (40 mg), an NS5A inhibitor, dosed once-daily as three oral tablets.5

 

MAVIRET is an 8-week, pan-genotypic virologic cure** for use in patients without cirrhosis and who are new to treatment,*1 such patients comprising the majority of people living with HCV. MAVIRET is also approved as a treatment for patients with specific treatment challenges, including those with compensated cirrhosis across all major genotypes, and those who previously had limited treatment options, such as patients with severe chronic kidney disease (CKD), post-liver and -renal transplant recipients *** and those patients with genotype 3 infection.5 It is the only pan-genotypic treatment approved for use in patients across all stages of CKD.5

 

Glecaprevir (GLE) was discovered during the ongoing collaboration between AbbVie and Enanta Pharmaceuticals (NASDAQ: ENTA) for HCV protease inhibitors and regimens that include protease inhibitors.

 

*Patients without cirrhosis and new to treatment with DAAs [either treatment-naive or not cured with previous IFN-based treatments ([peg]IFN +/- RBV or SOF/RBV +/- pegIFN)].

**Patients who achieve a sustained virologic response at 12 weeks post treatment (SVR12) are considered cured of hepatitis C.

***MAVIRET is recommended for 12 weeks in liver or kidney transplant recipients who are HCV GT-1 to 6 treatment-naïve (TN) or GT-1, -2, -4, -5, -6 PRS- treatment experienced. A 16-week treatment duration should be considered in transplant patients who are GT-1 NS5A inhibitorexperienced (NS3/4A inhibitor-naïve) or GT-3 PRS- treatment experienced.

 

About AbbVie

AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.ca and www.abbvie.com. Follow @abbvieCanada and @abbvie on Twitter or view careers on our Facebook or LinkedIn page.

 

###

Media:

Muriel Haraoui AbbVie Canada (514) 717-3764

muriel.haraoui@abbvie.com

 

1 Decisions Resources Group. Hepatitis C virus: disease landscape & forecast 2016. January 2017.

2 CADTH Canadian Drug Expert Committee Recommendation – Final: https://www.cadth.ca/sites/default/files/cdr/complete/SR0523_Maviret_complete-Jan-25-18.pdf. Accessed April 2019. 3 Alberta Health. https://idbl.ab.bluecross.ca/idbl/lookupCoverageCriteria.do?productID=0000084466&priceListID=0013. Accessed April 2019.

4 Government of Saskatchewan. Saskatchewan Drug Plan. http://formulary.drugplan.ehealthsask.ca/PDFs/APPENDIXA.pdf. Accessed April 2019.

5 MAVIRET (glecaprevir/pibrentasvir tablets) Product Monograph. Date of Preparation: August 16, 2017. Date of Revision: November 28, 2018. http://www.abbvie.ca/content/dam/abbviecorp/ca/en/docs/MAVIRET_PM_EN.pdf. Accessed April 2019.

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Physician-Led Vireo Health Expands into Adult-Use Cannabis State with Massachusetts Acquisition

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Spherix Issues Letter to Shareholders

NEW YORK, April 2, 2019 /PRNewswire/ — Spherix Incorporated, (NASDAQ: SPEX) a technology development company committed to the fostering of innovative ideas, today issued a letter to shareholders:

Spherix Logo. (PRNewsFoto/Spherix Incorporated)

Dear Fellow Shareholder,

One of the most challenging tasks as CEO is taking the vision of the Board and transferring that into meaningful value for our shareholders.  However, 2018 marked a pivotal year for our Company as we forged ahead with the vision of creating an exciting biotechnology company.  With more than $13,000,000 in assets and less than 9,000,000 in outstanding shares, we are moving Spherix in the right direction.

We are excited after the successful IPO of our prior biotechnology investment.  We’re seeking to continue to leverage our collective experiences, as well as that track record, in the coming year.  We are pleased how things are already off to a solid start with the proposed transformative acquisition of CBM BioPharma, Inc.

The CBM transaction, announced in October of last year, brings to Spherix exclusive drug development rights from world-renowned partners including Wake Forest Innovations and the University of Texas at Austin.  Significant progress has already been made.

As part of our due diligence, Spherix funded a preclinical analysis of KPC34, one of the drugs exclusively licensed by CBM.  In that preclinical analysis, we looked at the mechanism of action for KPC34 to identify other types of cancers that might respond well to KPC34.  Specifically, we looked for cancers with target gene expression indicative of high levels of PLC and PKC mRNA. I am pleased to report that the analysis revealed that the following cancers: uveal melanoma, low grade glioma, acute myeloid leukemia and adrenocortical carcinoma have the gene profiles indicating that those tumor types could be responsive to KPC34 treatment.  Other cancer types of interest that may also respond to KPC34 are:  thyroid carcinoma, skin cutaneous melanoma, prostate adenocarcinoma, pancreatic adenocarcinoma, kidney chromophobe, colon adenocarcinoma (POLE), colon adenocarcinoma (MSS), and invasive breast cancer.  As a result, this information indicates that KPC34 may have applications beyond the previously indicated acute myeloid leukemia (AML), acute lymphoblastic leukemia (ALL) and helps to show the potential value of this drug asset.

In addition, to further demonstrate the value of this asset, I am pleased to announce the release of a short video presentation, posted to our web site HERE, demonstrating in simple terms, the mechanism of action of KPC34, one of the two main compounds that form the cornerstone of the CBM acquisition.  I encourage you to take a look at the video.

Beyond our internal efforts, in a December 2018 article written by the Chief Editor of Clinical Leader magazine, Clinical Leader discussed the ability of KPC34 to reverse hind limb paralysis in a mouse from Acute Lymphoblastic Leukemia (ALL).  We were pleased to receive such positive press coverage by outlets such as Clinical Leader magazine.  This type of coverage helps spread the word in the scientific community about the potential for this asset.  A link to that article is HERE, and I again encourage you to review it.  I hope you can see why we continue to be excited about CBM’s potential.

We have other holdings that also reported notable progress over the last year.

Our ride and transportation sharing platform investment, Mellow, held its preliminary launch in the Washington DC area in January of 2019.  The company’s site, www.borrowmellow.com is up and running and we encourage you to have a look.  Mellow is an exciting startup company and we are proud to partner with their concept.

DatChat has continued to develop and advance the technology behind its platform.  In addition to an interface redesign late last year, DatChat is close to releasing the in-app purchase of its video function and has made progress toward the issuance of their first patent.  We continue to support its platform development and hope to see the new product rollout soon.  As internet privacy continues to be a growing worldwide concern, we believe that DatChat is positioned to thrive and prosper.

On the personnel front, we added a technology Advisory Board Member, Dr. Rana Quraishi, Director of New Ventures, UM Ventures University of Maryland Baltimore.  This addition to Spherix is notable, as Dr. Quraishi spent the majority of her career working in life science directed finance, investment and consulting organizations.   We will continue working with Dr. Quraishi to identify other life science assets for Spherix to acquire that would complement our existing portfolio.  Independently, Spherix is in discussions with other institutions about potential licensing opportunities.

We have been asked recently about our plans to dividend out portions of our interests in some of the assets mentioned above.  We continue to be committed to that plan moving forward.  However, restricted stock presents notable difficulties when it comes to distribution.  We will work to dividend out portions of our investments, as we previously stated, working in coordination with all parties involved and in compliance with agreed upon terms and applicable securities law.

We are hard at work building a robust organization with a lucrative portfolio of assets that we hope will drive shareholder value.  We bring a highly qualified and motivated team with a substantial track record of turning over “a lot of rocks” in pursuit of assets that offer the right risk/return profile for our investors.

We appreciate your support as we move forward with continued focus and conviction. I want to personally thank you for being a shareholder.

Sincerely,

Anthony Hayes

About Spherix
Spherix Incorporated is a technology development company committed to the fostering of innovative ideas. Spherix Incorporated was formed in 1967 as a scientific research company.
Our activities generally include the acquisition and development of technology through internal or external research and development. In addition, we seek to acquire existing rights to intellectual property through the acquisition of already issued patents and pending patent applications, both in the United States and abroad. We may alone, or in conjunction with others, develop products and processes associated with technology development and monetizing related intellectual property.

Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

Spherix:

Phone: 212-745-1373

Email: investorrelations@spherix.com

www.spherix.com

 

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SOURCE Spherix Incorporated

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Wuhan Updates on Hemp and CBD-Based Products Line

BARCELONA, Spain, March 28, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE —  Wuhan General Group (China), Inc. (OTC: WUHN) (the “Company” and “Wuhan”), announced today that its subsidiary MJ MedTech, Inc. (MJ MedTech) has commenced formulations and prototyping for the Dr. AnnaRx line of hemp and CBD based products.

The products listed below are being developed in Phase 1 and readied for sale for Q2 2019 onward. These products come under the Cosmetics and Food segments.

Cosmetic

  • Day Cream
  • Night Cream
  • Facial Cleanser
  • Facial Exfoliator
  • Anti-Aging
  • Shampoo & Conditioner
  • SPF 50+ Sunblock

Food

  • CBD Olive Oil
  • CBD Salad Dressing
  • Infused Coffee
  • Infused Tea
  • Infused Honey
  • CBD Chocolate

In Phase 2 and 3, the range of products will fall under the Topicals and CAMS (Complementary and Alternative Medicines) segment, respectively. The Company is expected to launch its range of Phase 2 and 3 products to the market in Q4 2019 onward.

Topicals

  • CBD Balms for pain and inflammation
  • CBD Ointments for joint care
  • CBD Creams for mind and mood
  • Soft gels

CAMS

  • Capsules
  • Suppositories
  • CBD Extracts
  • Antioxidants
  • Immune Booster
  • Multivitamins

More highlights:

  • The Company forecasts revenues for Q2, Q3 and Q4 2019 of the amount of $585,000, $2,047,500 and $5,265,000, respectively.
  • Wuhan management executives will be visiting South Africa in April to ensure operational performance and conduct product testing by Wuhan’s Chief Medical Officer against our quality standards.
  • MJ Medtech will officially relocate the head office to Barcelona, Spain in anticipation of the European launch in 2020 where the Dr. AnnaRx line of hemp and CBD-based products will be sold as well as across South Africa and surrounding countries in more than 1,000 pharmacies in 2019.

Wuhan management believes in the transition to the cannabis industry as a strategic move that will ensure future company growth and shareholder value. We are eager to share our vision and success.

About Wuhan General Group (China), Inc.

Wuhan General Group (China), Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that owns, develops and commercializes a range of CBD-based products. At Wuhan, our mission is to advance CBD-based medicine to the forefront by deploying best practice science and medicine, clinical research and emerging technologies.

For further information contact:

Publicly traded company (OTC Pink: WUHN)

Website: www.wuhn.org

Public Relations E-mail: info@wuhn.org

Forward-Looking Statements:

Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

Source: Wuhan General Group (China), Inc.

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Vireo Health Expands National Footprint with Acquisition of New Mexico Medical Cannabis Company

MINNEAPOLIS, March 28, 2019 /PRNewswire/ — Vireo Health International, Inc. (“Vireo” or the “Company”) (CSE: VREO), America’s leading science-focused, multi-state cannabis company, today announced the acquisition of an entity which manages the vertically-integrated operations of Red Barn, a holder of one New Mexico’s medical cannabis licenses. Red Barn currently operates two medical cannabis dispensaries, located in Santa Fe and Gallup, and a cultivation and processing facility, located in Gallup.

Vireo Logo

“Vireo Health is excited to expand our operations into New Mexico’s well-established medical cannabis market,” said Chief Executive Officer, Kyle Kingsley, M.D. “Red Barn is a well-respected operator in New Mexico’s medical cannabis program, which has earned the trust of consumers. We look forward to welcoming Red Barn into the Vireo Family. Together, we will create best-in-class products and continue to provide patients with compassionate care.”

In 2007, New Mexico became the 12th state in the United States to adopt a medical cannabis program. According to the New Mexico Department of Health Services, in February 2019, there were 70,109 active qualifying patients enrolled in the state’s medical cannabis program. The New Mexico Medical Cannabis program includes 35 Licensed Non-profit Producers (“LNPPs”) which cultivate and distribute cannabis to qualified patients. On March 1, 2019, the New Mexico Department of Health Services enacted an emergency rule that increased the plant limit count from 450 to 2,500 – an increase of over 500 percent.

This transaction, which was previously disclosed, was financed through a combination of cash and stock and represents Vireo Health’s second acquisition since it began trading on the Canadian Securities Exchange under the ticker symbol “VREO.” Vireo Health now has more than 300 employees across operations in eight states including Arizona, Maryland, Minnesota, New Mexico, New York, Ohio, Pennsylvania, and Rhode Island.

About Vireo Health International, Inc.

Vireo Health International, Inc. is America’s leading science-focused, multi-state cannabis company. Vireo’s physician-led team of more than 300 employees provides best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally-friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently has operations in eight states including Arizona, Maryland, Minnesota, New Mexico, New York, Ohio, Pennsylvania, and Rhode Island.  For more information about the company, please visit www.vireohealth.com.

Contact Information 

Investor Inquiries
Sam Gibbons
Vice President, Investor Relations
samgibbons@vireohealth.com
(612) 314-8995

Media Inquiries
Albe Zakes
Vice President, Corporate Communications
albezakes@vireohealth.com
(267) 221-4800

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statement Disclosure

This news release contains forward-looking information within the meaning of applicable securities laws, based on current expectations. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “look forward to”, “budget” “scheduled”, “estimates”, “forecasts”, “will continue”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of Vireo, and includes statements about, among other things, future developments, the future operations, strengths and strategy of the Company. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including Vireo’s experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.

Examples of the assumptions underlying the forward-looking statements contained herein include, but are not limited to those related to: the achievement of goals, the closing of acquisitions, obtaining of necessary permits and governmental approvals, future market positioning, as well as expectations regarding availability of equipment, skilled labor and services needed for cannabis operations, intellectual property rights,  development, operating or regulatory risks, trends and developments in the cannabis industry, business strategy and outlook, expansion and growth of business and operations, the timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; access to capital; future operating costs; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana and the timing thereto; receipt of appropriate and necessary licenses in a timely manner; the effects of regulation by governmental agencies; the anticipated changes to laws regarding the recreational use of cannabis; the demand for cannabis products and corresponding forecasted increase in revenues; and the size of the medical marijuana market and the recreational marijuana market.

Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. Vireo assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of material factors, many of which are beyond the control of the Company and that may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors include, but are not limited to: denial or delayed receipt of all necessary consents and approvals; need for additional capital expenditures; increased costs and timing of operations; unexpected costs associated with environmental liabilities; requirements for additional capital; reduced future prices of cannabis; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the cannabis industry; delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities; title disputes; claims limitations on insurance coverage; risks related to the integration of acquisitions; fluctuations in the spot and forward price of certain commodities (such as diesel fuel and electricity); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries where the Company may carry on business in the future;  liabilities inherent in cannabis operations;  risks relating to medical and recreational cannabis; cultivation, extraction and distribution problems; competition for, among other things, capital, licences and skilled personnel;  risks relating to the timing of legalization of recreational cannabis; changes in laws relating to the cannabis industry; and management’s success in anticipating and managing the foregoing factors.

 

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SOURCE Vireo Health, Inc.

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Cannabis Growth Opportunity Corporation is Pleased to Report that Vireo Commenced Trading on the CSE Under the Symbol “VREO”

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Vireo Health Expands National Footprint with Entry into Arizona’s Medical Cannabis Market

MINNEAPOLIS, March 25, 2019 /PRNewswire/ — Vireo Health International, Inc. (“Vireo” or the “Company”) (CSE: VREO), America’s leading science-focused, multi-state cannabis company, today announced the acquisition of four entities which together manage the vertically-integrated medical cannabis business of license-holder Arizona Natural Remedies (“ANR”). The acquisition includes a cultivation and processing facility in Amado, a wholesale business that distributes products to third-party dispensaries throughout the state, and a dispensary in Phoenix.

Vireo Logo

“With today’s acquisition, Vireo expands its business into the Grand Canyon State’s rapidly growing medical cannabis market,” said Chief Executive Officer, Kyle Kingsley, M.D. “ANR is a recognized leader in all-natural, organic, and pesticide-free cultivation and has done a tremendous job of building consumer trust and loyalty at their Phoenix dispensary. We look forward to welcoming ANR team members into the Vireo family and combining their core competencies with our medical, scientific, and manufacturing expertise.”

Arizona is one of the largest medical cannabis markets in the United States. According to the Arizona Department of Health Services, in February 2019, there were 191,683 active qualifying patients enrolled in the state’s medical cannabis program.

This transaction, which was previously disclosed, was financed through a combination of cash and stock and represents Vireo’s first acquisition since it began trading on the Canadian Securities Exchange under the ticker symbol “VREO.” The Company now has more than 300 employees across operations in seven states including Arizona, Maryland, Minnesota, New York, Ohio, Pennsylvania, and Rhode Island.

About Vireo Health International, Inc.

Vireo Health International, Inc. is America’s leading science-focused, multi-state cannabis company. Vireo’s physician-led team of more than 300 employees provides best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally-friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently has operations in seven states including Arizona, Maryland, Minnesota, New York, Ohio, Pennsylvania, and Rhode Island.  For more information about the company, please visit www.vireohealth.com.

Contact Information 

Investor Inquiries
Sam Gibbons
Vice President, Investor Relations
samgibbons@vireohealth.com
(612) 314-8995

Media Inquiries
Albe Zakes
Vice President, Corporate Communications
albezakes@vireohealth.com   
(267) 221-4800

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statement Disclosure

This news release contains forward-looking information within the meaning of applicable securities laws, based on current expectations. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “look forward to”, “budget” “scheduled”, “estimates”, “forecasts”, “will continue”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of Vireo, and includes statements about, among other things, future developments, the future operations, strengths and strategy of the Company. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including Vireo’s experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.

Examples of the assumptions underlying the forward-looking statements contained herein include, but are not limited to those related to: the achievement of goals, the closing of acquisitions, obtaining of necessary permits and governmental approvals, future market positioning, as well as expectations regarding availability of equipment, skilled labor and services needed for cannabis operations, intellectual property rights,  development, operating or regulatory risks, trends and developments in the cannabis industry, business strategy and outlook, expansion and growth of business and operations, the timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; access to capital; future operating costs; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana and the timing thereto; receipt of appropriate and necessary licenses in a timely manner; the effects of regulation by governmental agencies; the anticipated changes to laws regarding the recreational use of cannabis; the demand for cannabis products and corresponding forecasted increase in revenues; and the size of the medical marijuana market and the recreational marijuana market.

Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. Vireo assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of material factors, many of which are beyond the control of the Company and that may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors include, but are not limited to: denial or delayed receipt of all necessary consents and approvals; need for additional capital expenditures; increased costs and timing of operations; unexpected costs associated with environmental liabilities; requirements for additional capital; reduced future prices of cannabis; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the cannabis industry; delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities; title disputes; claims limitations on insurance coverage; risks related to the integration of acquisitions; fluctuations in the spot and forward price of certain commodities (such as diesel fuel and electricity); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries where the Company may carry on business in the future;  liabilities inherent in cannabis operations;  risks relating to medical and recreational cannabis; cultivation, extraction and distribution problems; competition for, among other things, capital, licences and skilled personnel;  risks relating to the timing of legalization of recreational cannabis; changes in laws relating to the cannabis industry; and management’s success in anticipating and managing the foregoing factors.

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/vireo-health-expands-national-footprint-with-entry-into-arizonas-medical-cannabis-market-300817579.html

SOURCE Vireo Health, Inc.

Posted on

British Columbia PharmaCare Lists AbbVie’s Hepatitis C Treatment MAVIRET™ on its Formulary

  • British Columbia PharmaCare lists MAVIRET on its formulary effective March 21, 2019
  • MAVIRET is the first and only 8-week, pan-genotypic treatment for chronic hepatitis C patients without cirrhosis and who are new to treatment*1
  • MAVIRET is the only pan-genotypic treatment approved for use in patients across all stages of chronic kidney disease

 

MONTREAL, QC, March 22, 2019 – AbbVie (NYSE: ABBV), a global, research and development-based biopharmaceutical company, announced that MAVIRET™ (glecaprevir/pibrentasvir tablets) is now reimbursed in British Columbia. MAVIRET is a once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus (HCV) infection across all major genotypes (GT1-6).2 It is the only 8-week, pan-genotypic treatment for patients without cirrhosis and who are new to treatment.*

 

In British Columbia, MAVIRET is reimbursed for the treatment of treatment-naïve or treatment- experienced adult patients with chronic hepatitis C including all genotypes 1-6. The listing became effective on March 21, 2019.3

 

“Hepatitis C represents a crisis in Canada and around the world. But it doesn’t have to be the case for much longer. We now have the ability to effectively screen, diagnose, treat and cure people living with this devastating disease,” explains Dr. Brian Conway, Infectious Diseases Specialist and medical director of the Vancouver Infectious Disease Centre. “When treatment is initiated earlier, with options such as MAVIRET, we have the potential to reduce transmission rates, the risk of death from associated conditions such as liver cancer and the long-term management costs of this disease. MAVIRET is an

important tool to help us achieve the World Health Organization objective of eliminating HCV as a public health concern in Canada by 2030.”

 

Approximately 300,000 Canadians are infected with hepatitis C.4 British Columbia has the highest rate of hepatitis C in Canada. There are an estimated 80,000 people living with the virus in the province and about 2,500 new cases of hepatitis C are identified each year.5

 

“The vision of our organization is for British Columbia to be free from new hepatitis C cases, while offering the best possible care and support for those already living with this disease,” said Daryl Luster, President of the Pacific Hepatitis C Network (PHCN). “Today, I am optimistic that this is well within our reach because we already have the right treatments that offer high cures. By collaborating together, we will be able to move towards the elimination of the hepatitis C virus in British Columbia and Canada.”

 

The efficacy and safety of MAVIRET was evaluated in nine Phase 2-3 clinical trials, in over 2,300 patients with genotype 1, 2, 3, 4, 5 or 6 HCV infection and with compensated liver disease (with or without cirrhosis).

 

About MAVIRET™

MAVIRET™ is indicated in Canada for the treatment of chronic hepatitis C virus (HCV) infection in adults across all major genotypes (GT1-6).6 MAVIRET is a pan-genotypic, once-daily, ribavirin-free treatment that combines glecaprevir (100 mg), an NS3/4A protease inhibitor, and pibrentasvir (40 mg), an NS5A inhibitor, dosed once-daily as three oral tablets.6

 

MAVIRET is an 8-week, pan-genotypic virologic cure** for use in patients without cirrhosis and who are new to treatment,*1 such patients comprising the majority of people living with HCV. MAVIRET is also approved as a treatment for patients with specific treatment challenges, including those with compensated cirrhosis across all major genotypes, and those who previously had limited treatment options, such as patients with severe chronic kidney disease (CKD), post-liver and -renal transplant recipients *** and those patients with genotype 3 infection.6 It is the only pan-genotypic treatment approved for use in patients across all stages of CKD.6

 

Glecaprevir (GLE) was discovered during the ongoing collaboration between AbbVie and Enanta Pharmaceuticals (NASDAQ: ENTA) for HCV protease inhibitors and regimens that include protease inhibitors.

 

*Patients without cirrhosis and new to treatment with DAAs [either treatment-naive or not cured with previous IFN-based treatments ([peg]IFN +/- RBV or SOF/RBV +/- pegIFN)].

**Patients who achieve a sustained virologic response at 12 weeks post treatment (SVR12) are considered cured of hepatitis C.

***MAVIRET is recommended for 12 weeks in liver or kidney transplant recipients who are HCV GT-1 to 6 treatment-naïve (TN) or GT-1, -2, -4, -5, -6 PRS- treatment experienced. A 16-week treatment duration should be considered in transplant patients who are GT-1 NS5A inhibitorexperienced (NS3/4A inhibitor-naïve) or GT-3 PRS- treatment experienced.

 

 

About AbbVie

AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.ca and www.abbvie.com. Follow @abbvieCanada and @abbvie on Twitter or view careers on our Facebook or LinkedIn page.

 

###

 

Media:

Muriel Haraoui AbbVie Canada (514) 717-3764

muriel.haraoui@abbvie.com

 

1 Decisions Resources Group. Hepatitis C virus: disease landscape & forecast 2016. January 2017.

2 CADTH Canadian Drug Expert Committee Recommendation – Final: https://www.cadth.ca/sites/default/files/cdr/complete/SR0523_Maviret_complete-Jan-25-18.pdf. Accessed March 2019. 3 British Columbia Pharmacare. https://www2.gov.bc.ca/gov/content/health/practitioner-professional-

resources/pharmacare/prescribers/limited-coverage-drug-program/limited-coverage-drugs-glecaprevir-pibrentasvir. Accessed March 2019.

4 The Canadian Liver Foundation. https://www.liver.ca/how-you-help/advocate/. Accessed March 2019. 5 British Columbia Centre for Excellence in HIV/AIDS. Hepatitis C (HCV) Fact sheet. http://www.cfenet.ubc.ca/sites/default/files/uploads/HCV%20Fact%20Sheet.pdf. Accessed March 2019.

6 MAVIRET (glecaprevir/pibrentasvir tablets) Product Monograph. Date of Preparation: August 16, 2017. Date of Revision: November 28, 2018. http://www.abbvie.ca/content/dam/abbviecorp/ca/en/docs/MAVIRET_PM_EN.pdf. Accessed March 2019.

Posted on

Multi-State Cannabis Company Vireo Health to Begin Trading on the Canadian Securities Exchange Under Ticker Symbol “VREO”

MINNEAPOLIS, MN – March 20, 2019 – Vireo Health International, Inc. (“Vireo” or the “Company”), America’s leading science-focused multi-state cannabis company, is pleased to announce that effective at market open today, the company will begin trading on the Canadian Securities Exchange (the “CSE”) under the ticker symbol “VREO.”

“Today is an historic milestone for Vireo Health,” said Chief Executive Officer, Kyle Kingsley, M.D. “Our business and product offerings are expanding rapidly, and we expect the proceeds from our RTO transaction will enable us to significantly expand our geographic footprint and our investments in intellectual property development. We are proud of our track record of creating value for shareholders over time, and our board of directors and executive management team will continue to prioritize this important goal as we transition to operating as a public company.”

“We believe that science will drive the lion’s share of long-term opportunity in the cannabis industry. From novel, efficient, scaled processing equipment, to proprietary consumer products and our expansive intellectual property portfolio, Vireo has positioned itself as the cannabis company of the future,” Dr. Kingsley said.

Dr. Kingsley continued, “Vireo has been pursuing a business model consistent with this vision since its inception, and our leadership team is committed to achieving this objective. We also believe that customer service excellence will be key toward winning and maintaining market share, and we look forward to leveraging our proprietary e-commerce and home delivery platforms to meet the highly-demanding needs of today’s modern consumer landscape.”

In conjunction with the previously-announced business combination with Darien Business Development Corp., Vireo Health International, Inc. raised more than US $50 million through a brokered and non-brokered private placement offering. Concurrent with the public listing, the Company launched its new investor relations website at investors.vireohealth.com.

About Vireo Health International, Inc.

Vireo Health International, Inc. is America’s leading science-focused, multi-state cannabis company. Vireo’s physician-led team of more than 250 employees is dedicated to providing best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally-friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently has operations in six states including Minnesota, New York, Pennsylvania, Maryland, Rhode Island, and Ohio.

Contact Information

For more information about the company, please visit www.vireohealth.com or contact:

Investor Inquiries

Sam Gibbons
Vice President, Investor Relations
samgibbons@vireohealth.com
(612) 314-8995

Media Inquiries

Albe Zakes
Vice President, Corporate Communications
albezakes@vireohealth.com
(267) 221-4800

The CSE has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statement Disclosure

This news release contains forward-looking information within the meaning of applicable securities laws, based on current expectations. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “look forward to”, “budget” “scheduled”, “estimates”, “forecasts”, “will continue”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of Vireo, and includes statements about, among other things, future developments, the future operations, strengths and strategy of the Company. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including Vireo’s experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.

Examples of the assumptions underlying the forward-looking statements contained herein include, but are not limited to those related to: the achievement of goals, the close of all acquisitions, obtaining of all necessary permits and governmental approvals, future market positioning, as well as expectations regarding availability of equipment, skilled labor and services needed for cannabis operations, intellectual property rights, development, operating or regulatory risks, trends and developments in the cannabis industry, business strategy and outlook, expansion and growth of business and operations, the timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; access to capital; future operating costs; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana and the timing thereto; receipt of appropriate and necessary licenses in a timely manner; the effects of regulation by governmental agencies; the anticipated changes to laws regarding the recreational use of cannabis; the demand for cannabis products and corresponding forecasted increase in revenues; and the size of the medical marijuana market and the recreational marijuana market.

Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. Vireo assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of material factors, many of which are beyond the control of the Company and that may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors include, but are not limited to: denial or delayed receipt of all necessary consents and approvals; need for additional capital expenditures; increased costs and timing of operations; unexpected costs associated with environmental liabilities; requirements for additional capital; reduced future prices of cannabis; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the cannabis industry; delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities; title disputes; claims limitations on insurance coverage; risks related to the integration of acquisitions; fluctuations in the spot and forward price of certain commodities (such as diesel fuel and electricity); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries where the Company may carry on business in the future; liabilities inherent in cannabis operations; risks relating to medical and recreational cannabis; cultivation, extraction and distribution problems; competition for, among other things, capital, licences and skilled personnel; risks relating to the timing of legalization of recreational cannabis; changes in laws relating to the cannabis industry; and management’s success in anticipating and managing the foregoing factors.