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ALGAE DYNAMICS CORP ANNOUNCES C$400,000 RESEARCH GRANT FROM MITACS TO SUPPORT CANNABIS RESEARCH WITH UNIVERSITY OF WESTERN ONTARIO
ALGAE DYNAMICS CORP ANNOUNCES C$400,000 RESEARCH GRANT FROM MITACS TO SUPPORT CANNABIS RESEARCH WITH UNIVERSITY OF WESTERN ONTARIO.
About this update from Canaquest Medical Corporation
[{"type":"text","content":"\n\n TORONTO, Nov. 16, 2017 (GLOBE NEWSWIRE) -- ALGAE DYNAMICS CORP (OTC: ADYNF) (the \"Company\"), a company focused on the development of unique health products and pharmaceuticals utilizing cannabis and algae oils, today announced that it and the University of Western Ontario have been awarded C$400,000 in project funding from Mitacs, a Canadian not-for-profit organization committed to  supporting research-based innovation. The funds will be used to support the previously announced research agreement by the Company and University of Western Ontario to investigate the role of cannabis-derived phytocannabinoid formulations for the development of novel mental health pharmacotherapies. This project support will run for 3 years at the University of Western Ontario, headed by Dr’s. Steven Laviolette and Walter Rushlow, and will employ three interns at the post-doctoral level and three interns at the doctoral level.\n Cannabinoid phytochemicals derived from the marijuana plant are increasingly being recognized for their potential in treating a wide variety of mental health conditions. For example, specific compounds found in marijuana such as THC and cannabidiol (CBD) are showing promise as pharmacological treatments for disorders including schizophrenia, anxiety, depression and PTSD. However, very little is understood regarding the underlying neurobiological and molecular mechanisms by which these treatments may produce their clinical effects. This collaborative project will examine how specific phytochemicals in marijuana, with a focus on THC and CBD, may serve to improve symptoms associated with mental health problems, using a variety of pre-clinical, translational neuroscience research techniques. The Company and the University of Western Ontario are working to identify and produce specific cannabinoid oil formulations with ratios of THC and CBD that selectively target specific symptoms associated with these complex diseases. Dr. Steven Laviolette, Project Leader, University of Western Ontario, commented, “We are thrilled to receive this support from Mitacs. This funding will provide outstanding mentorship opportunities for our research team while allowing us to move forward with research and development of effective and novel cannabinoid formulations for mental health disorders.”    Paul Ra...