Pascal Biosciences Discovers a Cannabinoid That Combats Coronavirus

SEATTLE, WA and VANCOUVER, BC / ACCESSWIRE / July 14, 2020 / Pascal Biosciences Inc. (TSXV:PAS)(OTC PINK: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
Investors:
invest@pascalbiosciences.com

Media Contact:
Julie Rathbun
info@pascalbiosciences.com
Tel: 206-769-9219

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Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.

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SOURCE: Pascal Biosciences Inc.

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