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Gb Sciences Completes $8 Million Sale of Las Vegas Cannabis Facility
Gb Sciences Completes $8 Million Sale of Las Vegas Cannabis Facility.
About this update from Gb Sciences, Inc.
[{"type":"text","content":"\n LAS VEGAS, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Gb Sciences, Inc. (OTCQB:GBLX), a leading plant-inspired, biopharmaceutical research and development company, has closed the sale of its last remaining cannabis facility, completing a transition to the biopharmaceutical industry.  \"This is a landmark event for Gb Sciences,\" said Chairman and CEO John Poss. \"We have emerged from this sale as a pure-play biopharmaceutical research and development company. With an improved balance sheet, we are positioned to generate substantial value from our unique pipeline of patent-protected formulations for the prescription drug market that targets a range of serious medical problems.\"  Management's decision to end all connections to the cannabis cultivation industry positions Gb Sciences to uplist its stock to a senior exchange and attract institutional investors and strategic partners in the biopharmaceutical drug development sector to accelerate its clinical development progress. \"Gb Sciences has established a pipeline of patent-protected combination therapies for the treatment of medical conditions affecting hundreds of millions of people,\" said Dr. Andrea Small-Howard, President and Chief Science Officer of Gb Sciences. \"We can now concentrate all our energies on advancing our plant-inspired, biopharmaceutical research and development programs into human clinical trials.\"  Gb Sciences' intellectual property portfolio includes five U.S. and three international patents that have been issued to protect therapeutic mixtures for Parkinson's disease, chronic pain, hyperinflammation, and heart disease. In addition, Gb Sciences has 12 U.S. and 43 international patent-pending applications, which provide patent protection for both PhAROS™, its proprietary drug discovery engine, and its novel, plant-inspired combination drugs for the treatment of more than 65 serious medical conditions.  Gb Sciences' substantial biopharmaceutical research and development pipeline was established through collaborations with scientists at Michigan State University, Chaminade University, the National Research Council of Canada, the University of Hawaii, the University of Athens in Greece, the University of Seville and the University of Cadiz in Spain, and other well-respected institutions. The company has established partnerships wit...