Allied Corp., a Medical Cannabis Company, signs Master Services Agreement with Carmel – University of Haifa, Israel for Pre-clinical Pharmaceutical Development of a PTSD Drug

Allied Corp

KELOWNA, British Columbia, Oct. 28, 2019 (GLOBE NEWSWIRE) — Allied Corp. (“Allied”) (OTCQB: ALID), an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions, is pleased to announce it has entered into a Master Services Agreement with the University of Haifa, Israel via their wholly owned commercialization subsidiary: Carmel – Haifa University Economic Corporation Ltd. (“Haifa”). This world-class academic research center gives Allied access to a proprietary pre-clinical animal model that is owned by Carmel. Specifically, Allied will engage with this proprietary animal model for the purposes of specialized pharmaceutical cannabinoid research and pharmaceutical product development.
Through this agreement, Allied now has access to Haifa’s leading-edge facilities, proprietary animal model, pharmaceutical development, academic laboratory and associated scientists and investigators. This will enable Allied to conduct the pre-clinical phase of the development of a proprietary pharmaceutical product for which Allied has patent-pending status. This pharmaceutical product (“AC001”) targets the treatment of 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. Following this, Allied intends to then seek a global commercialization relationship through a licensing deal for product AC001 with a big pharma global 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. This is outlined in the parameters of our recent United States Provisional Patent Application for Cannabinoid and Terpenoid Pharmaceutical Compositions and Methods for Treating Post-Traumatic Stress Disorder (PTSD)” says 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”. Additional information about Allied Corp. can be found at www.allied.health.On behalf of the Board,Calum Hughes
Chief Executive Officer
About Carmel – Haifa University Economic Corporation Ltd.
Carmel-Haifa University Economic Corporation Ltd. serves as the commercialization and business arm of the University of Haifa and is responsible for protecting and commercializing its intellectual property. Carmel-Haifa collaborates with various partners and establishes ventures, companies and funds with the goal of maximizing the business potential of commercializing research and knowledge developed at the University. 
Additional information about Carmel – Haifa can be found at http://carmel-ltd.haifa.ac.ilAbout Allied Corp.
Allied Corp. is an international cannabis company with a mission to help people suffering from Post-Traumatic Stress Disorder (PTSD) by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.
Media Contact:
allied@5wpr.com
Investor Relations:
Anthony Zelen
ir@allied.health
+1-778-388-5258
Forward-Looking Statements:
This news release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or future performance. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as “anticipate”, “become”, “objective”, “may”, “will”, “might”, “should”, “could”, “can”, “intend”, “expect”, “believe”, “estimate”, “predict”, “potential”, “plan”, “is designed to”, “project”, “continue”, or similar expressions suggest future outcomes or the negative thereof or similar variations. Such forward-looking statements  include, but are not limited to, that the Company will experience growth and will be able to expand globally.. We are also subject to various additional risks as described in our SEC filings at www.SEC.gov. 
Forward-looking statements are based on management’s current expectations and may materially differ from actual results.  Further, such forward-looking statements and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price.We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
CBJ Newsmakers

Recommended
Pacific Rim Cobalt Successfully Completes Phase 1 Nickel/Cobalt Process Recovery ProgramREPEAT - Media Advisory: October 28, Ontarians will meet the Conservatives’ return to Queen’s Park with a Day of Action to win an Ontario for all, says Ontario Federation of Labour