Industry-Sponsored Research Week

Medical cannabis company Allied Corp. signs master services agreement with U of Haifa to develop PTSD drug

By David Schwartz
Published: November 5th, 2019

Israel’s University of Haifa has signed a master services agreement with Allied Corp., an international medical cannabis company focused on cannabinoid health solutions. The deal was executed by the school’s wholly owned commercialization subsidiary, Carmel-Haifa University Economic Corporation Ltd.

Through U of Haifa, Allied gains access to a proprietary pre-clinical animal model that is owned by Carmel. Specifically, Allied will use the proprietary animal model for specialized pharmaceutical cannabinoid research and pharmaceutical product development.

In addition, Allied will have access to Haifa’s leading-edge facilities for pharmaceutical development as well as its academic lab and associated scientists and investigators. This will enable Allied to conduct pre-clinical development of a proprietary, patent-pending drug, AC001, designed to treat Post-Traumatic Stress Disorder and related mental health conditions.

Following the completion of the pre-clinical research phase, Allied intends to bring AC001 through human clinical trials and ultimately will seek to a licensing deal with a big pharma commercialization partner.

“Building upon Allied’s current patent-pending position, and as part of Allied’s Intellectual Property and Pharma Development (IP&PD) Strategy, we are excited to begin pre-clinical testing of our novel formulations,” comments David Weinkauf, VP-pharma development for Allied Corp. “This is the first important step towards Allied bringing an academically validated pharmaceutical product to those who need it most; those people around the globe who have given of themselves to serve their country and are now suffering with PTSD.” 

Source: Globe Newswire

Posted under: University-Industry Engagement Week

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