Gulf Onshore Announces Name Change to Cannabis Science, Inc. and Selection of Its First Pharmaceutical Cannabis Product for FDA Testing
Gulf Onshore Inc (OTCBB: GFON.OB) has changed its name to Cannabis Science, Inc., reflecting its new business mission, and has requested a new stock trading symbol, which will be will be assigned by NASDAQ OMX in the near future. Cannabis Science Inc. has also launched its new website www.cannabisscience.com reflecting its new name.
The Company`s first pharmaceutical cannabis product for DHHS- and FDA-qualified testing will be a whole-cannabis extract in the form of a lozenge. The Company has applied for its DEA handling license and is interviewing researchers to complete and sponsor its IND (Investigational New Drug) test protocols.
The lozenge is a part of the assets and know-how developed by Steven W. Kubby and Dr. Robert J. Melamede and acquired by the Company from Cannex Therapeutics of California.
Initial findings from informal human trials using the whole-cannabis extract demonstrate the lozenge has the capacity to enhance rapid onset through oromucosal absorption. Last year, an early version of the lozenge was tested at Vancouver Island Compassion Society (VICS) (www.thevics.com), a non-profit medical cannabis organization located in Victoria, B.C, which is at the forefront of this patient-centered approach to cannabis research.
Cannabis Science, Inc. President & CEO Steven W. Kubby, himself a cancer patient, stated, "As our proof of concept, the study saw seven VICS staff members initially receive 15 lozenges each for a 48 hour period during which they did not use or ingest any other cannabis products. Participants then gave detailed feedback on their experiences by answering a ten-item questionnaire in detail. The study conducted by VICS found that cannabis-based medicine would fill the gap in the market that exists between the fast-acting but short-effect methods of ingestion like smoking, and the long-lasting but slow acting methods like oils and edibles. As well, the VICS Study showed that this type of product would be useful for people suffering from chronic pain or other conditions that appear to benefit from orally-ingested cannabinoid medicines, as well as for those who will not or cannot smoke or vaporize cannabis or who wish to use cannabis-based medicines in an easy and discrete manner. Six of the participants (87.5%) reported feelings of relaxation and/or pain relief. One subject reported "pain relief in my knees with no lethargy or cloudy head," while another "felt really relaxed" and noticed "relief to my muscle aches within 15-20 minutes." The lozenge as a method of delivery is simple and elegant, and the time of onset and length of effect suggests at least modest oromucosal absorption. Naive or elderly patients would respond well to the familiar packaging of a lozenge and to the slower method of delivery and onset of effect compared to smoking or vaporization. It is very important to note that we are not re-inventing the wheel, as another company already has an alcohol-based whole-cannabis extract in FDA Phase 3 human trials in the US so there is ample precedent for such a product. However, we believe patients will be more receptive to our products, which contains no alcohol.
Dr. Robert Melamede, Chief Science Officer for Cannabis Science, Inc., added, "We have determined that the lozenge should be the first modality we use to bring to pharmaceutical cannabis products to market because it brings relatively fast relief to patients in a way that allows them to control their own dosage and does not involve inhalation. It also has the ability to rapidly deliver a wide variety of cannabis pharmaceutical formulations for a broad range of medical needs. The advanced stages of development that Cannex Therapeutics of California has achieved on its lozenge, and the positive informal human testing results it has attained, can speed our process and serve as a guide for formal human testing stages, which all FDA approved drugs must secure before they are released to market in the US."
The Company looks forward to formal human testing to bring various products to market targeting Cancer, Pain relief, Asthma, and Sleep disorders.
About Cannabis Science, Inc.
Cannabis Science, Inc. is at the forefront of medical marijuana research and development. The Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products. In sum, we are dedicated to the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance. Please visit www.cannabisscience.com for more information.
Forward Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will", "anticipates", "believes", "plans", "goal", "expects", "future", "intends" and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.