Business
Applied BioSciences Reports First Quarter FY2020 Financial Results and Provides Corporate Update
Applied BioSciences Reports First Quarter FY2020 Financial Results and Provides Corporate Update.
About this update from Applied Biosciences Corp.
[{"type":"text","content":"\nApplied BioSciences Corp. (OTCQB: APPB) (\"Applied\" or the \"Company\"), a vertically integrated company focused on the development of science-driven cannabinoid biopharmaceuticals and the production of high-quality CBD products, today announced its financial results for the first quarter Fiscal Year 2020 ended June 30, 2019. The Company also provided an update on its corporate and clinical progress.\n\n\nQ1 FY2020 Operational Highlights\n\n\n\nRenewed strategy focused on leveraging endocannabinoid system to develop high-value products across three separate business units, including:\n\n\nBiopharmaceuticals: goal to develop novel therapeutics to treat serious diseases across a range of therapeutic areas, including metabolic, peripheral neuropathy and progressive lung disease\n\n\nCBD Products: multiple brands offering high-quality CBD products to the highest regulatory standards;\n\n\n\n\nBolstered leadership team with highly qualified individuals including Raymond W. Urbanski MD, PhD, as Chief Executive Officer, former business unit Chief Medical Officer at Pfizer Inc. and well-established industry-leading expert with over 20 years of experience in clinical development, research and pharmaceutical industry expertise across oncology, cardiology, endocrinology, and immunology;\n\n\nAppointed Martin Schroeder to the Scientific Advisory Board and as President of Applied BioPharma. Mr. Schroeder has over 30 years of experience in the pharmaceutical and biotech industries and has helped many biotech and pharmaceutical companies conduct search and evaluation of compounds and molecules;\n\n\nLaunched multiple new products and expanded into the Beverage and Health / Wellness category with Remedi Spa and Remedi Beverage and Shot;\n\n\nCommenced discussions regarding proposed scientific trials with two leading Universities specializing in Veterinary Medicine; and\n\n\nLaunched robust business development initiative to build biopharmaceuticals pipeline.\n\n\n\n“Over the past quarter, our team has made diligent efforts to re-focus our corporate and clinical strategy and position ourselves to successfully execute on those goals. This is a transformative time in the Company’s history, and I believe that with the multiple near-term milestones ahead, Applied has the potential to drive value for all stakeholders and truly impact a...