Cannabis Science Continues Building Its Team of Drug Development Experts with the Appointment of Ray R. Carr, R.Ph., to the Chief Operating Officer
SAN FRANCISCO--(BUSINESS WIRE)--Cannabis Science Inc. (NASD OTCBB: CBIS), an emerging pharmaceutical cannabis company, is pleased to announce that the company continues to assemble its team of drug development experts to pilot the company through the regulatory guidelines necessary to gain FDA approval of its first cannabis-based drug.
The company's intention is to follow the FDA's regulatory pathway for drug development through early clinical testing and then seek a Big Pharma partner for late stage human studies and filing for FDA marketing approval. "As a small, entrepreneurial company, CSI can move faster in the initial stages of testing," Ray Carr explained in a recent interview. "However, established pharmaceutical firms are more efficient in meeting larger clinical trial requirements and compiling the documentation for a New Drug Application (NDA). We feel this is the fastest way to get our life-saving cannabis-based drugs to market and reward our investors who make this effort possible."
CSI's Steve Kubby, CEO concurs. "Our company was founded on some of the best cannabis science in the industry; Ray Carr's input will be pivotal in helping us assemble the outstanding development team necessary to take our products to market."
About Ray R. Carr, RPh, Cannabis Science Inc., Chief Operating Officer (COO)
Registered Pharmacist Ray Carr has worked in the CRO (contract research organization) industry for the last 20 years, in the diverse positions, including VP of Business Development, Chief Operating Officer, and VP of Clinical Lab Services. Pharmaceutical firms often contract with CROs to perform animal and human testing in accordance with regulatory requirements. While acting as COO, Ray supervised departments of Clinical Operations, Data Management, Biostatistics, Medical Writing, Finance, Human Resources, and Information Technology. Mr. Carr's contacts within the CRO and pharmaceutical industries will be invaluable in outsourcing the toxicology and clinical studies necessary to satisfy FDA requirements.
"Ray Carr has a track record of getting things done while paying attention to the bottom line," says CSI's CFO Richard Cowan. "When Ray was hired as COO for SFBC Charlotte, that division was losing hundreds of thousands of dollars annually. Several months after he came on board, the division was in the black. Within the next year, SFBC Charlotte became one of the most profitable divisions in the company. We are delighted to have him on board."
The global market for oral cannabis medications has been recently estimated at almost $6 billion annually. CSI's proprietary delivery systems, which insure rapid absorption with prolonged blood levels of active drug, are expected to give the company's products a competitive edge worldwide.
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. It is 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.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," "intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.