SEATTLE, WASHINGTON and VANCOUVER, BRITISH COLUMBIA, July 14, 2020 – Pascal Biosciences Inc. (TSX.V:PAS) (OTC:BIMUF) (“Pascal” or the “Company”) today announced the Company has discovered certain cannabinoids that block replication of SARS-CoV-2, the coronavirus that causes COVID-19. In a cell-based assay, the best cannabinoid had potency similar to remdesivir, a recently approved drug from Gilead that improves recovery time for COVID-19 patients. This suggests a Pascal-identified cannabinoid may have the potential to limit the severity and progression of the disease.
To contribute to research efforts during the coronavirus pandemic, Pascal scientists searched for compounds, including cannabinoids, that have activity against SARS-CoV-2 in a cell-based assay. These results will be further confirmed with additional assays, leading to clinical trials which Pascal hopes to begin within a year. Pascal believes it is the first to identify a cannabinoid that directly inhibits the virus, and the company has applied for patent protection for this unique discovery.
“Because most cannabinoids have a good safety profile and favorable pharmacological properties, we are hopeful that this discovery will provide therapeutic benefit for COVID-19,” commented Dr. Patrick Gray, CEO of Pascal Biosciences. “The incidence of this disease continues to increase, so we look forward to translating our results into clinical studies as soon as possible.”
There are many efforts throughout the world to create a vaccine or therapeutic drug for SARS-CoV-2 infection. Most experts estimate it will take a year or more to produce, test, and manufacture sufficient quantities of an effective vaccine. The path to identifying COVID-19 therapeutics has been faster, leading to emergency authorization of remdesivir in the US and approval in the UK for dexamethasone. Both of these drugs have improved outcomes for hospitalized COVID-19 patients. Typically, multiple drugs are required to provide effective antiviral therapy. For example, other viral diseases such as HIV and Hepatitis C require two or three drugs for effective treatment. Based on the novel Pascal discovery, a cannabinoid may well become an essential component of an effective drug cocktail for the treatment of COVID-19.
About Pascal Biosciences Inc.
Pascal is a biotechnology company targeting innovative therapies for serious diseases, including COVID-19. Pascal is also developing treatments for cancer with targeted therapies for acute lymphoblastic leukemia and cannabinoid-based therapeutics. Pascal’s leading portfolio also comprises a small molecule therapeutic, PAS-403, that is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy. For more information, visit www.pascalbiosciences.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Patrick W. Gray, CEO
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