SIML Proscere Bioscience in Negotiations With Major Pharmaceutical Company for a $200M Deal
Grass Valley, CA - (NewMediaWire) - September 11, 2019 - Simlatus Corporation (OTC PINK: SIML) ("Simlatus" or the "Company") announces today negotiations with a major pharmaceutical company in Europe regarding a potential $200M initial order.
The company initially discussed its Hybrid Cold/Water – Alcohol based CBD Extraction system in Europe last December-2018 with a major pharmaceutical company. Negotiations are gaining ground while Proscere Bioscience is positioning itself to supply the pharmaceutical industry with CBD extraction systems to produce pharmaceutical-grade THC and CBD as a replacement for opiate based Schedule-II prescription drugs. The opioid epidemic is fueling a steep rise in infection-related stroke hospitalizations, according to preliminary research to be presented in Honolulu at the American Stroke Association's International Stroke Conference 2019. No community has been untouched by the opioid epidemic, and municipal officials are constantly confronted by the devastating losses experienced by those dealing with substance use disorder. Herculean efforts by first responders have led to widespread use of naloxone, and during the past year overdose deaths have leveled off. However, the rise of fentanyl as a heroin replacement is twisting this crisis in a deadlier direction.
The pharmaceutical industry is now developing FDA Class-III Pain Medications that are THC/CBD based and with insignificant side-effects or addiction. The best-known marijuana extract is the psychoactive compound tetrahydrocannabinol, or THC, but the plant also contains more than 60 lesser-known compounds that belong to the same chemical family as THC. There are now several major companies exploring the medicinal potential of some of these chemicals, and some of the world's largest pharma companies, including AbbVie (ABBV) and Valeant Pharmaceuticals (VRX), market products in this drug class. Proscere Bioscience will be on this radar for manufacturing the extraction processes to produce these special cannabis compounds.
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Richard Hylen, CEO
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