Brains Bioceutical Corp. is pleased to announce the completion of its US$30m Capital Raise
VANCOUVER, Dec. 19, 2019 /CNW/ – Brains Bioceutical Corp. (“Brains”) is pleased to announce the completion of its US$30m Capital Raise, including US$19m raised exclusively by Canaccord Genuity, and strategic partnership with a leading European Medical Cannabis Group. Brains’ founders and senior management participated with equity in the raise.
This sophisticated, sizeable and strategic transaction solidifies one of the largest partnerships operating in the Medical Cannabis sector in Europe.
Brains is a global leader in EUGMP- certified production of plant-based cannabidiol (CBD) as an Active Pharmaceutical Ingredient (API) for pharmaceutical and nutraceutical use. Brains has already signed supply agreements with leading global pharmaceutical and health and wellness companies and commenced shipment to several countries around the world.
Brains is one of the few phyto-cannabinoid CBD API manufacturers in Europe with EudraGMDP certification currently in commercial production. Brains’ CBD API (its primary offering to the market) is MHRA licensed for both human and veterinary use and contains 99.7% CBD and zero Tetrahydrocannabinol (THC). Part of the capital raised will be used to expand Brains’ existing UK CBD API production growing its current annual capacity from 864,000g to 6,912,000g per annum, a near seven-fold increase.
Brains’ CBD API is currently in use in a Phase III clinical trial for refractory epilepsy in adults conducted by a leading global pharmaceutical corporation. Brains expects a positive outcome from this advanced clinical study and will be ramping up CBD API production to meet anticipated demand. Brains’ API has successfully been produced and shipped as a “Specials” medicine, approved by the MHRA, within the U.K. The Brains team of skilled scientists and researchers are finalizing plans to create additional APIs for dominant cannabinoids including THC, CBG, CBN, CBC and more.
Q1 2020 will see Brains launch its branded nutraceutical CBD range of products in top tier health and wellness retail and pharmacy chains in the UK. All Brains’ products, own-brand and white-label, will bear the ‘Brains Inside®️’ trademark to provide the quality assurance stamp of EudraGMDP CBD API.
Brains is also well positioned to navigate the strict Novel Foods requirements in the UK from the Food Standards Association (FSA) and in Europe by the European Commission’s (EFSA) for CBD products.
Brains phyto-cannabinoid pure CBD API has successfully been tested by the INRS Laboratory, a World Anti-Doping Agency (WADA) facility. These screening reports have confirmed that Brains’ CBD API is free of THC, pesticides and other banned substances listed by WADA. Brains is first of its kind in the industry to get such a confirmation from a WADA- accredited laboratory for the purity of its CBD and the absence of prohibitory substances. WADA has removed CBD from its banned substance list.
The Brains partnership with a leading European Medical Cannabis Group creates a vertically integrated Medical Cannabis operation and has (via its subsidiaries) inter alia received in-principle approval from a European jurisdiction to obtain a license (to permit for the cultivation, extraction, processing, manufacture, storage, transport, import and export of medicinal cannabis and cannabis-derived products) and to establish a high-quality cannabinoid processing facility.
About Brains Bioceutical Corp:
Brains Bioceutical Corp is a leader in GMP – certified production of naturally sourced active pharmaceutical ingredients (APIs) for the pharmaceutical and nutraceutical industries. Brains Bioceutical is one of the only cannabinoid active pharmaceutical ingredient (API) manufacturers in production today and is involved in academic and clinical trials across the globe.
Brains Bioceutical Corp. Senior Management Team is made up of a rare hybrid of pharmaceutical and consumer goods executives-having held C-suite and other senior positions with companies such as GW Pharma, Merck, Seattle Seahawks, Golden State Warriors, Danone, Earthbound Farms, International Herbs, Cascadia Specialties and The Royal British Navy. This experience allows Brains to execute at a hyper-efficient level in the pharma and wellness categories.
Brains’ wholly owned subsidiary in the UK, BSPG Laboratories is one of only nine companies that has the commercial capability and EudraGMDP certification to produce natural CBD API. Brains is currently manufacturing a line of phytocannabinoid THC-free CBD API products. These products will be available across the UK early 2020.
MHRA Registered API: Inspected and Registered with the MHRA (Medicines and Healthcare Products Regulatory Agency). API Certificate Number: UK API 48727
All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Brains Bioceutical Corp. assumes no obligation to update the forward-looking statements should they change.
NEW POLL REVEALS 1.4 MILLION BRITISH ADULTS USING ‘STREET CANNABIS’ TO TREAT CHRONIC HEALTH CONDITIONS
Medicinal Cannabis Research Body Welcomes NICE Guidelines But Urges Government to Accelerate Access and Clinical Understanding as Black Market Use Soars
LONDON — Monday, 11 November 2019 –– The Centre for Medicinal Cannabis (CMC) today welcomes the new NICE guidelines relating to the prescribing of cannabis-based medicinal products for people with intractable nausea and vomiting, chronic pain, spasticity and severe treatment-resistant epilepsy but urges the Government to urgently accelerate patient access and clinical learning via the NHS as it reveals shocking new polling data.
A new poll conducted for the CMC and CPASS by YouGov reveals for the first time the true extent of illicit adult use of ‘street cannabis’ to treat the symptoms of chronic conditions.
Previous reports have estimated that between 50,000 and 1.1 million people in the UK are already using cannabis in this way, excluding recreational use. However, criticism of this data, open to observational, selection and reporting bias, has prevented their inclusion in national policy deliberations. In our survey we sought to accurately identify the incidence of street-available cannabis use for medical intent amongst the general population in England, Wales and Scotland.
Today we can reveal, from the largest ever polling sample, the incidence of use of street-available cannabis for a diagnosed medical problem amongst the general population is much higher than previously understood and may therefore be closer to 1.4 million users in Britain (2.8% of the adult population).
56% of those using cannabis for their conditions did so on a daily basis, with a further 23% on a weekly basis. 9% spent nothing on cannabis (implying self-grown use), 44% spent up to £99 per month, with a further 21% spending between £100 and £199. Further information regarding which diagnoses cannabis was used for, in addition to which social, age and geographical groups used cannabis in this was collected and will be published in a forthcoming report.
In the coming days, the CMC will set out new proposals for how NICE should evaluate CBMPs in the next 5-10 years whilst we wait for new randomised controlled trial (RCT) data to emerge, host a policy seminar in London to explore how the Danish Government responded to similar challenges and announce the launch of a major new clinical research conference in London.
Steve Moore, Director, Centre for Medicinal Cannabis
“In the medium term cannabis based medicinal products should be evaluated as all other medicines are via the well designed RCTs that are the foundation of evidence-based prescribing protocols but we can no longer ignore the scale of ‘street cannabis’ use by chronically ill people in the UK. We urge the Government to explore models such as those being implemented by the Danish Government which accelerate patient access and clinical learning and address grim illicit profiteering and exploitation of vulnerable people”
Dr Daniel Couch, Medical Lead, Centre for Medicinal Cannabis
”For the first time we have reliable, representative data regarding the number of people in Britain using cannabis as a medicine. Over a million people are using cannabis illegally to relieve their symptoms. The findings are astounding and present a national challenge. We urgently require robust clinical evidence to evaluate the safety and efficacy of cannabinoid medicines”
Ann Keen Chair of CPASS and Fellow of Queen’s Nursing Institute
“These figures demonstrate the vast number of patients in the UK with chronic and debilitating diagnosed conditions who feel they have no choice but to expose themselves to all the risks of accessing a medicine that works from the criminal market. Controlled, safe but innovative solutions must be explored as soon as possible” Notes to Editors To obtain these data we commissioned a national survey, across all areas of the population in Britain , through YouGov. Participants were asked about their gender, age, social grade, government region, working status and marital status, number of children and use of social media. Respondents were asked if they suffered from a defined list of medical diagnoses. These conditions must have been diagnosed by a medical professional or be secondary to treatment prescribed by a medical professional. Self-diagnosed medical problems were excluded. Patients were then asked if they used cannabis (excluding OTC oils and CBD), to treat the symptoms of this condition or side effects from its treatment, and if so how frequently and how much they spent in the average month on cannabis. Results Across a one-week period in October 2019 10,179 people responded to the national survey. Respondents were representative of the general population. 86% of respondents were from England, 39% were over 55 years, and 57% were from social grades A, B and C1.
The Centre for Medical Cannabis (CMC) is the UK’s first and only industry membership body for stakeholders operating in Cannabis Based Medicinal Products (CBMPs) or cannabidiol (CBD) wellness markets. More information about the CMC can be found at www.thecmcuk.org.
Cannabis Patient Advocacy & Support Services (CPASS), is chaired by former Health Minister and Fellow of the Royal College of Nursing and Queens Nursing Institute, Ann Keen and working towards better patient access and care in the regulated medicinal cannabis framework in the UK.
Contact: Steve Moore, email@example.com +44 7870 515025
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