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Algae Dynamics Corp Announces Research Agreement With University of Western Ontario to Investigate the Use of Cannabis Derivatives for the Development of Novel Pharmacotherapies for Mental Health
Algae Dynamics Corp Announces Research Agreement With University of Western Ontario to Investigate the Use of Cannabis Derivatives for the Development of Novel Pharmacotherapies for Mental Health.
About this update from Canaquest Medical Corporation
[{"type":"text","content":"\n \n \n Algae Dynamics Corp Announces Research Agreement With University of Western Ontario to Investigate the Use of Cannabis Derivatives for the Development of Novel Pharmacotherapies for Mental Health\n \n \nAlgae Dynamics Corp Announces Research Agreement With University of Western Ontario to Investigate the Use of Cannabis Derivatives for the Development of Novel Pharmacotherapies for Mental Health\n \n TORONTO, ON--(Marketwired - Mar 13, 2017) - ALGAE DYNAMICS CORP (OTCQB: ADYNF) (the \"Company\"), a development stage company focused on the development of unique health products and pharmaceuticals utilizing cannabis and algae oils, today announced a research and product development agreement with Western University to perform research on cannabis oil and its constituents in the context of depression, post-traumatic stress disorder, anxiety and schizophrenia. This is the second of the recently announced research agreements with Canadian universities involving cannabis oil research. This announcement brings Algae Dynamics total university research contributions to $1. 6 million for both programs.\n This announcement follows the Company's previously announced new strategic initiative to explore the extraction of oils from other botanicals, most notably cannabis, and to seek product development and formulation opportunities that combine the benefits of algae and cannabis oils. This research agreement will directly support this initiative and will \"focus on translational pharmaceutical research, with a specific focus on identifying how specific phytochemical compounds found in cannabis, including delta-9-tetrahydrocannbinol (THC), cannabidiol (CBD), cannabinoid-derived terpenoids and other potential phytochemical derivatives of cannabis may serve as novel pharmacological treatments for symptoms associated with depression, post-traumatic stress disorder, anxiety and schizophrenia.\" \n Paul Ramsay, Chairman and President of the Company said, \"With this research agreement, we are building upon the previously announced strategic initiative into the use of extracts from cannabis oil, in conjunction with algae oil, to develop unique health products and formulations. In our previous press release, we outlined a three-part approach, the first being Research and Development work with Canadian universities. This is the seco...