PHILADELPHIA, March 22, 2018 /PRNewswire/ - Phivida Holdings Inc. ("Phivida" or the "Company") (CSE:VIDA) (OTC:PHVAF) is pleased to report the signing of a Letter of Intent (LOI) with Athletes for Care, Inc. (A4C). Terms of the LOI pertain to a prospective partnership in cannabinoid education and research with professional and amateur level athletics.
The agreement comes equipped with an exclusivity to Phivida as the sole health-based cannabinoid infused beverage brand partner of A4C, contingent on a focus group trial sample from the inaugural Phivida beverage production run. This partnership will seek to position the pending Phivida line of products as the premier global leader in CBD infused functional foods and beverages.
A4C is a non-profit organization recognized as tax-exempt under Section 501(c)(3) that was founded by professional athletes who are united as one voice to advocate for research, education and compassion when addressing important health concerns facing athletes and the general public. One of the primary goals of A4C is to explore cannabinoids as an opiate-replacement therapy and alternative to opiate based pain-killers. A4C members include Riley Cote (Philadelphia Flyers), Eugene Monroe (Baltimore Ravens), Jake Plummer (Denver Broncos), and many other high-performance athletes from a variety of sports.
Agreement terms call for the Phivida Clinical Advisory Team and A4C to collaborate in educating healthcare practitioners and integrated sports therapists on the prevailing clinical data surrounding cannabinoid pharmacology. This will entail co-exhibition at major medical conferences across North America, the co-production of educational content (e.g. videos and print publications) and clinical research on Phivida's Nano-CBD™ infused formulations as a viable opiate replacement for both professional and amateur athletes.
Key areas of research include the effects of Phivida's Nano-CBD™ on optimizing athletic performance, enhancing post-competition recovery, reducing symptoms of pain and inflammation from sports-related injuries as well as critical prevention strategies. As an active neuro-protectant, cannabinoids found in Phivida's products have demonstrated the potential for relative preservation of neuronal structure and/or function, which is vital in the prevention of concussion related disorders and diseases, including CTE and other TBI related conditions.
On January 1st, 2018, the World Anti-Doping Agencies (WADA) officially removed cannabidiol (CBD) from its prohibited substances, allowing cannabinoids to be used as an opiate replacement for the first time in the history of competitive sports. This decision comes in contrast to a rising global opiate epidemic, and the increased use of pain-killers within both professional and amateur levels of competitive athletics. Phivida celebrates whole-plant medicines, using proprietary formulas of botanical-based nutraceuticals blended with naturally occurring phytocannabinoids from Hemp Oil extract, nanoencapsulated for enhanced bioavailability.
Earlier this year, the New York Times published a neuropathology study that found that 99% of deceased former NFL players tested positive for Chronic Traumatic Encephalopathy (CTE). The NFL Players Association (NFLPA) launched a study on the use of cannabinoids to treat chronic pain inflammation based disorders, like CTE, according to a Sports Illustrated article published on August 1, 2017.
The NFLPA study was coincided by the launch of the "Your Mind Your Body Campaign," designed to equip current and former players with the tools needed to achieve a healthy lifestyle, both physically and mentally, and encourages an open dialogue on pressing health and safety issues, including CTE, and mental health.
Cannabinoid-based alternatives to opiates is not a new issue for the NFL. Many former players have become advocates for CBD as alternatives to narcotics, including A4C co-founders Monroe, Plummer, and Nate Jackson, who has publicly stated a belief that "60-70% of active NFL players use medicinal cannabis."
"This pain is never going away. My body is damaged," Monroe, 30, stated in a Washington Post article. "I have to manage it somehow. Managing it with pills was slowly killing me."
Despite the fact that both the NFLPA and NFL endorse the study of marijuana as a potential pain-management tool, the NFL currently suspends players who test positive for the drug and modified the threshold for a positive test for marijuana (i.e., THC).
"We are very proud to partner with the team of Athletes for Care," states Phivida President and Chairman, John Belfontaine. With the recent removal of CBD-hemp oil extract from WADA's prohibited substances list, and the growing instance of opiate abuse and addiction in both amateur and professional sports, Phivida's CBD-Hemp Oil extract eligible for use by competitive athletes worldwide, giving these athletes hope for relief, without punitive action of controversy. The A4C partnership is an opportunity for Phivida to deliver on our promise to continue contributing to clinical education and research and giving back the communities in which we serve."
The binding LOI will be subject to a definitive agreement and subsequent exchange approval.
Athletes for Care
A4C was founded by a group of pro athletes who advocate for research, education, and compassion when addressing important health issues facing athletes and the public at large. A4C aims to: (a) provide resources that support a better quality of life for athletes before, during and after a career in sports; (b) educate the general public about health and safety matters affecting athletes of all ages; (c) advocate for responsible solutions to important health issues impacting millions of people, athletes and non-athletes alike, such as opioid addiction, chronic pain, and poor mental health; and (d) fund and expand research efforts that have a direct impact on health and safety in sports. A4C is the first of its kind: a global advocacy and support organization created by athletes, for athletes, designed to raise awareness for critical health and safety issues that impact athletes of all ages and promoting solutions that lead to a better quality of life. For more information visit https://athletesforcare.org.
Phivida Holdings Inc.
Phivida (pronounced "fi-VEE-da") is traded on the Canadian Securities Exchange as "VIDA". As a premier brand of cannabidiol ("CBD") infused functional foods, beverages and clinical products. Using encapsulation technology, Phivida converts phytocannabinoids into water soluble delivery format, enhancing bioavailability, and timed released within the body. Phivida's Nano-CBD™ is infused into functional beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain to terminal diseases. The World Anti-Doping Association's recent decision to lift its ban of CBD from hemp oil and the World Health Organization's recent statement supports the clinical benefits of CBD worldwide. Celebrating; Health and Wellness, In Harmony™, Phivida's mission is to lead the alternative health care sector as the benchmark quality standard in premium cannabinoid infused beverages and clinical products. For more information contact us, visit www.phivida.com or join our us @Phivida.