LOS ANGELES, CA--(Marketwired - Apr 5, 2017) - Vitality Biopharma, Inc. (OTCQB: VBIO) ("Vitality" or the "Company") a corporation dedicated to the development of cannabinoid prodrug pharmaceuticals, and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders, today announced the filing of an international patent application in March 2017 that describes compounds discovered to be effective in a drug screening model of neural repair.
The underlying patent rights, which were assigned to Vitality Biopharma in March 2016, are based on work performed by the Myelin Repair Foundation (MRF), a non-profit disease research organization that was dedicated to developing regenerative therapies for multiple sclerosis. The results were also published within the scientific journal BMC Neuroscience, in an article titled, "Development of a central nervous system axonal myelination assay for high throughput screening." Researchers discovered several investigational and FDA-approved drugs that are useful in effecting remyelination, a form of nervous system regeneration.
The discoveries included a compound that is known to have a positive track record of safety in clinical trials and to provide pain relief through modulation of the vanilloid TRPV1 receptor. Cannabidiol (CBD), the well-known cannabinoid that is not intoxicating and that pharmaceutical companies are developing primarily for epilepsy, is also known to relieve pain through modulation of the TRPV1 receptor. As a result, Vitality Biopharma has made broad patent claims covering use of CBD and other TRPV1 agonists for myelin repair and for treatment of demyelinating disorders.
"Part of our mission is to develop treatments that provide far more than symptomatic relief," said Robert Brooke, Chief Executive Officer of Vitality Biopharma. "We're excited to further explore the ability of CBD and similar compounds to deliver regenerative benefits for patients with MS and other demyelinating conditions."
About Vitality Biopharma (OTCQB:VBIO)
Vitality Biopharma is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. For more information, visit: www.vitality.bio.
Follow us on Facebook, Twitter and LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.