PharmaCyte Biotech Inc. (OTCMKTS:PMCB) has announced the successful completion of a one-year stability testing for CypCaps™ final clinical study product as required by the US FDA. The product will be used in the Pharmacyte’s planned clinical study in locally advanced, inoperable pancreatic cancer once the FDA lifts the clinical hold on its Investigational New Drug Application.
PharmaCyte completes one-year stability test for CypCaps™
Kenneth Waggoner, the company’s CEO, said they are delighted to have completed the all necessary stability tests for the CyoCaps™ product. He said that the product has shown to be active and stable after storage at -80oC for a year. Waggoner said that the trial will go on to determine CypCaps’ maximum shelf life. Most importantly, the results have been exceptional for a product of such kind.
The stability study sought to determine Cell-in-a-Box encapsulated cell product, CyCaps™’s shelf life after a year of storage at -80oC. Analysis after 12 months showed that the product passed all specified tests that include enzyme activity, viability, cell potency, pH, label check, integrity, and capsule appearance. The company initiated the stability test before submission of the IND, and the latest data will be part of the package of information requested by the FDA.
Canopy Growth to acquire Supreme Cannabis
Canopy Growth Corp (NYSE:CGC) has entered a definitive agreement with The Supreme Cannabis Company Inc. (OTCMKTS:SPRWF), under which canopy Growth will acquire all issued and outstanding Supreme Cannabis common shared in a deal valued at $435 million. According to the terms of the agreement, Supreme Cannabis stockholders will get 0.01165872 Canopy Growth common shares and $0.0001 for every Supreme Cannabis share held. This transaction offers Supreme Cannabis a premium of around 66% per share based on the closing of its common shares as of April 7, 2021.
Most importantly, the transaction will offer numerous benefits to Supreme Cannabis and Canopy Growth Shareholders. Canopy Growth will enhance its brand portfolio with the acquisition including, leading Canadian brand 7ACRES.