SōRSE Technology, Pascal Biosciences To Collaborate On Cannabinoid Programs
Biotechnology company Pascal Biosciences Inc. (TSX.V: PAS) said Wednesday it has signed a term sheet with SōRSE Technology to build up Pascal’s cannabinoid programs.
This is the first time SōRSE Technology has stepped into the medical research applications sector, according to a press release.
The collaboration will focus on utilizing SōRSE’s formulation technology combined with Pascal’s cannabinoid programs for clinical trials.
SōRSE Technology is known for proprietary water-soluble cannabinoid emulsion technology that offers precise dosing, higher bioavailability and more than one year of shelf stability, according to the press release.
Pascal said it's the first company to determine a process for cannabinoids to help improve cancer immunotherapy and is also working on creating a cannabinoid-derived drug to help treat glioblastoma.
“The potential of Pascal’s cannabinoid programs for clinical applications in combination with SōRSE’s proprietary emulsification methods offers a promising path for future medical applications of cannabinoid products,” Pascal CEO Dr. Patrick Gray said in a statement.
“This agreement comes on the heels of recent, successful collaborative efforts with SōRSE that allowed us to examine SōRSE formulations in several Pascal ongoing studies. The combination of SōRSE’s industry-leading technology with Pascal’s long-term biotech potential make this a meaningful transaction for our shareholders.”
SōRSE is excited to support pharmaceutical cannabinoid studies, Howard Lee, the company's CEO, said in a statement.
“At SōRSE, we’re driven by our mission to help people better their lives through superior cannabinoid ingredients and delivery methods."
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.