Verde Science Inc (OTCMKTS:VRCI), a Pharma R&D development firm focused on creating a portfolio of cannabinoids based prescription treatments to fulfill patients need for a broad range of medical problems said that it finalized a definitive R&D deal with the Institute of Chemical Technology of Mumbai. Under the terms of the deal, the researchers and staff and faculty of the University will assist on innovative research with the objective of discovering and creating novel pharmaceutical treatments derived from the marijuana crop for the cure of specific medical issues.
The Institute of Chemical Technology was established in year 1933 and was granted the status of deemed University in 2008. It offers undergraduate, Ph.D. and masters programs in several Chemical Engineering fields. ICT awards almost hundred Ph.D. degrees every year. Harp Sangha, the CEO of Verde Science, said that the relationship with the ICT is a significant development for both the parties involved. It will speed up the start up of the initial R&D projects in association with ICT’s scientific infrastructure and ICT’s prestigious faculty.
Sangha said that the initial projects will focus on the formulation of efficacious treatments with specific applications to cure seizures and severe pain. It will be administered with the use of innovative delivery systems. In addition, it marks the initial step toward converting into a leader firm in scientific research for the making of advanced formulations of cannabis-infused compounds for medicinal use.
Louis Silver, the Director of Investor Relations said that there are many participants in the medical community that have accepted the efficacy of medical pot for the cure of certain medical problems. However, almost every credible medical entity has said that smoking marijuana is harmful to health. The pharmacological model of the company reduces the risks attached to the traditional use of pot by isolating active components in the marijuana crop and offering them in safe and medically acceptable forms.