Córdoba, May 5, 2017
VivaCell Biotechnology España SL (“VivaCell”), a preclinical drug development company located at the Science and Technological Park of Córdoba, Spain, is pleased to announce that it has recently received a further investment commitment of € 3.2 million from Emerald Health Research Inc. (“Emerald”) of Canada. This investment will be used to support VivaCell’s cannabinoid drug discovery and development programs.
This investment further consolidates VivaCell’s relationship with Emerald, which began in 2015. Concurrent with the closing, Emerald appointed two additional representatives to the Board of VivaCell, including the appointment of Dr. Avtar Dhillon (founder and CEO of Emerald Health Sciences) as VivaCell’s President.
Vivacell is a worldwide pioneer in the research and development of drugs that target the endocannabinoid system and holds six international patents on new chemical entities designed to act on that system. The founder of VivaCell and professor at the University of Córdoba (UCO), Eduardo Muñoz, M.D., Ph.D., stated that "It is the level of excellence in research conducted at VivaCell, in collaboration with research centers of high international prestige such as IMIBIC, UCO, Cajal Institute and the Universidad Complutense de Madrid, which has allowed us to generate a highly competitive pipeline that attracts investment into our company.”
According to the Managing Director of Vivacell, Maria-Luz Bellido, Ph.D., "The aim of the company is to discover and develop new molecules that offer pharmaceutical solutions for diseases that target the endocannabinoid system and currently have no cure such as Multiple Sclerosis, Huntington's disease and Scleroderma". She also stated, "This investment will allow us to work closely with Emerald to make significant progress in the advancement of our products as human clinical studies are expected to begin in 2018."
Emerald Health Research, Inc.
Emerald Health Research, Inc., a member of the Emerald Health Sciences group, is focused on the research and early-stage development of new chemical entities focused on impacting the endocannabinoid system.
VivaCell Biotechnology España SL
VivaCell Biotechnology España SL is a Spanish company focused on the discovery and research of new chemical entities related to the endocannabinoid system as drugs for the treatment of inflammatory and neurodegenerative diseases.