Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

 

MALVERN, Pa., Nov. 18, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced the Compensation Committee of the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 93,000 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 15,600 shares of common stock to six hired employees. The stock options and RSUs were granted as of November 16, 2021, as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have a ten-year term and have an exercise price of $8.13 per share, which is the closing price of Ocugen’s common stock on the grant date. The stock options and RSUs vest in equal annual installments over a three-year period starting on the one-year anniversary of the grant date, subject to the applicable new employee’s continued service with Ocugen through the applicable vesting dates. The stock options and RSUs were granted outside of Ocugen’s 2019 Equity Incentive Plan.

About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug — “one to many,” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets. For more information, please visit www.ocugen.com. 

Cautionary Note on Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from our current expectations, such as market and other conditions. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release. 

Ocugen Contact: 
Ken Inchausti
Head, Investor Relations & Communications
IR@Ocugen.com

Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

 

MALVERN, Pa., Nov. 18, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced the Compensation Committee of the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 93,000 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 15,600 shares of common stock to six hired employees. The stock options and RSUs were granted as of November 16, 2021, as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have a ten-year term and have an exercise price of $8.13 per share, which is the closing price of Ocugen’s common stock on the grant date. The stock options and RSUs vest in equal annual installments over a three-year period starting on the one-year anniversary of the grant date, subject to the applicable new employee’s continued service with Ocugen through the applicable vesting dates. The stock options and RSUs were granted outside of Ocugen’s 2019 Equity Incentive Plan.

About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug — “one to many,” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets. For more information, please visit www.ocugen.com. 

Cautionary Note on Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from our current expectations, such as market and other conditions. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release. 

Ocugen Contact: 
Ken Inchausti
Head, Investor Relations & Communications
IR@Ocugen.com

Ceapro Inc. Reports 2021 Third Quarter and Nine-Month Financial Results and Operational Highlights

 

– Increased R&D activities focused on the completion of a clinical trial for oat beta glucan as a potential cholesterol reducer and on the development of yeast beta glucan as a potential inhalable therapeutic for COVID-19 –

– Q3 2021 record sales of $4,523,000 compared to $3,476,000 for Q3 2020, representing a 30% increase –

– Net profit of $875,000 for Q3 2021 vs. net profit of $192,000 for Q3 2020, a 356% increase –

– Achieved record production levels despite COVID-19 pandemic situation –

EDMONTON, Alberta, Nov. 17, 2021 (GLOBE NEWSWIRE) — Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced financial results and operational highlights for the third quarter and the first nine months ended September 30, 2021.

“Progress continues on all fronts from production operations to research and development, allowing us to advance our pipeline while expanding our business model. We are extremely proud of our employees who worked tirelessly since the beginning of the year to maintain operations and deliver these very solid results despite the COVID-19 pandemic. As we continue to move forward, our focus remains on the health and safety of our associates, followed by business continuity,” stated Gilles Gagnon, M.Sc., MBA, President and CEO.

Corporate and Operational Highlights

Pipeline Development:

• Pursued the development of new PGX-dried chemical complexes for potential applications under various forms like pills, capsules, fast dissolving strips and face masks. Alginate and yeast beta glucan to become key products of Ceapro’s portfolio.
• Resumed bioavailability studies with University of Alberta for new chemical complexes yeast beta glucan-CoQ10, alginate-CoQ10 and newly formed alginate yeast beta glucan-CoQ10.
• Announced research agreement with Boston-based Angiogenesis Foundation to assess in vivo bioefficacy of oat beta glucan and avenanthramides in angiogenesis, blood vessel repairs, wound healing and tissue regeneration in various inflammation-based diseases and conditions like COVID-19 presenting damages of the lung blood vessels.
• Expanded collaboration with Montreal Heart Institute to initiate a Phase 1 clinical trial to assess safety and tolerability of pharmaceutical grade avenanthramides powder formulation.
• Conducting in vivo studies with McMaster University with yeast beta glucan as a potential inhalable therapeutic.
  

Technology:

• Pursued installment in Edmonton of a commercial scale unit for impregnation of bioactives with PGX-processed biopolymers.
• Ongoing engineering design for PGX processing commercial unit.

Production Operations:

• Achieved record levels with production of over 70 MT of finished products during the last quarter reliably providing our customers essential high quality products.
  

Subsequent to Quarter:

• Announced discovery of a new mechanism of action for PGX processed yeast beta glucan (PGX-YBG) as a potential inhalable therapeutic for lung fibrotic diseases including COVID-19 patients.
  • PGX-YBG binds to specific receptors (Dectin 1) located on macrophages responsible for the cascade of immunomodulating events when activated.
  • McMaster’s research team demonstrates ability of PGX-YBG to reprogram macrophages on its own.
• Reported preliminary results from clinical trial evaluating oat beta glucan in patients with high cholesterol levels. The study did not achieve the expected primary endpoint related to a decrease of low-density lipoproteins cholesterol when using Ceapro’s pill dosage form. While there was no statistically significant difference between the placebo group and the different dosages of beta glucan, there were positive signals that beta glucan nutraceutical formulation may offer appreciable health benefits as indicated with approved Health Canada’s beta glucan monograph (Natural Product Division)

Financial Highlights for the Third Quarter and Nine-Month Period Ended September 30, 2021

• Total sales of $4,523,000 for the third quarter of 2021 and $13,633,000 for the first nine months of 2021 compared to $3,476,000 and $12,415,000 for the comparative periods in 2020. The 10% increase in sales for the first nine months is mainly due to a significant increase in sales of avenanthramides in the USA compared to the same period in 2020.
• Net profit of $875,000 for the third quarter of 2021 and $2,067,000 for the first nine months of 2021 compared to a net profit of $192,000 and $2,395,000 for the comparative periods in 2020. Increased net profit for the third quarter of 2021 comes from improved margin of 65.2% as compared to 47.8% in 2020. Improved margins in 2021 result from the buying of excellent source material and from the diligent work of highly skilled personnel operating in only one site as compared to two sites in 2020.
• R&D investments were $1,400,000 for Q3 2021 compared to $479,000 for the same period in 2020. The significant increase being due to payments made to Montreal Heart Institute for a clinical trial for the assessment of oat beta glucan as a potential cholesterol reducer by almost $1.0 million during Q3 2021.
• Cash flows generated from operations of $2,837,000for the first nine months in 2021 vs $4,777,000 in 2020.
• Positive working capital balance of $10,367,000 as of September 30, 2021.
  

“Looking ahead, while considering the ongoing potential economic impact related to COVID-19, evolving consumption trends and escalating inflationary levels we believe Ceapro is well-positioned to once again deliver a strong growth in sales well in line with the positive trend achieved over the last years. While we have experienced a “bump in the road” with the beta glucan trial, our solid base business and expanded pipeline will enable us to pursue the expansion of our business model to the nutraceutical sector with avenanthramides and yeast beta glucan for which we are going to conduct more preclinical assays before investing at large scale levels. With a strong balance sheet, a group of dedicated people, and a solid base business, coupled with the innovative technologies and products that we have developed to enable us to expand, Ceapro is poised to emerge as a successful life science company,” concluded Mr. Gagnon.

CEAPRO INC.
Condensed Interim Consolidated Balance Sheets
Unaudited
	September 30,		December 31,
	2021		2020
	$		$
ASSETS
Current Assets
Cash and cash equivalents	7,410,214		5,369,029
Trade receivables	2,716,058		2,019,723
Other receivables	39,522		102,224
Inventories (note 3)	1,532,271		1,210,079
Prepaid expenses and deposits	133,760		348,845
Total Current Assets	11,831,825		9,049,900
Non-Current Assets
Investment tax credits receivable	607,700		607,700
Deposits	82,124		82,124
Licences (note 4)	16,292		18,514
Property and equipment (note 5)	17,776,791		18,591,189
Deferred tax assets	874,304		874,304
Total Non-Current Assets	19,357,211		20,173,831
TOTAL ASSETS	31,189,036		29,223,731
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable and accrued liabilities	1,097,645		1,067,622
Current portion of lease liabilities (note 6)	286,608		250,658
Current portion of CAAP loan (note 8)	80,811		72,263
Total Current Liabilities	1,465,064		1,390,543
Non-Current Liabilities
Long-term lease liabilities (note 6)	2,432,682		2,648,917
Deferred tax liabilities	874,304		874,304
Total Non-Current Liabilities	3,306,986		3,523,221
TOTAL LIABILITIES	4,772,050		4,913,764
Equity
Share capital (note 7 (b))	16,557,401		16,511,067
Contributed surplus (note 7 (e))	4,676,456		4,682,393
Retained earnings	5,183,129		3,116,507
Total Equity	26,416,986		24,309,967
TOTAL LIABILITIES AND EQUITY	31,189,036		29,223,731

CEAPRO INC.
Condensed Interim Consolidated Statements of Net Income and Comprehensive Income
Unaudited
	Quarters				Nine Months
	Ended September 30,				Ended September 30,
	2021		2020		2021		2020
	$		$		$		$
Revenue (note 14)	4,522,980		3,475,625		13,633,354		12,414,970
Cost of goods sold	1,573,655		1,814,080		5,787,608		5,794,573
Gross margin	2,949,325		1,661,545		7,845,746		6,620,397
Research and product development	1,403,186		478,993		3,050,544		1,381,332
General and administration	766,605		791,217		2,431,659		2,494,514
Sales and marketing	4,957		12,395		34,557		89,830
Finance costs (note 11)	37,684		43,066		169,938		189,258
Income from operations	736,893		335,874		2,159,048		2,465,463
Other (expenses) income (note 10)	138,381		(144,251	)	(92,426	)	(70,746	)
Income before tax	875,274		191,623		2,066,622		2,394,717
Income taxes	–		–		–		–
Total comprehensive income for the period	875,274		191,623		2,066,622		2,394,717
Net income per common share (note 17):
Basic	0.01		0.00		0.03		0.03
Diluted	0.01		0.00		0.03		0.03
Weighted average number of common shares outstanding (note 17):
Basic	77,684,017		77,610,113		77,669,747		77,585,679
Diluted	78,740,532		78,700,415		78,694,469		78,039,105

CEAPRO INC.
Condensed Interim Consolidated Statements of Cash Flows
Unaudited
	2021		2020
Nine Months Ended September 30,	$		$
OPERATING ACTIVITIES
Net income for the period	2,066,622		2,394,717
Adjustments for items not involving cash
Finance costs	106,390		117,237
Transaction costs	–		1,108
Depreciation and amortization	1,408,392		1,382,838
Gain on disposal of equipment	(5,000	)	–
Accretion	8,548		15,913
Share-based payments	13,672		122,902
Net income for the period adjusted for non-cash items	3,598,624		4,034,715
CHANGES IN NON-CASH WORKING CAPITAL ITEMS
Trade receivables	(696,335	)	1,821,449
Other receivables	62,702		(96,375	)
Inventories	(322,192	)	(522,670	)
Prepaid expenses and deposits	137,618		12,471
Accounts payable and accrued liabilities relating to operating activities	163,017		(355,552	)
Total changes in non-cash working capital items	(655,190	)	859,323
Net income for the period adjusted for non-cash and working capital items	2,943,434		4,894,038
Interest paid	(106,390	)	(117,237	)
CASH GENERATED FROM OPERATIONS	2,837,044		4,776,801
INVESTING ACTIVITIES
Purchase of property and equipment	(494,833	)	(222,610	)
Purchase of leasehold improvements	(19,472	)	–
Proceeds from sale of equipment	5,000		353
Accounts payable and accrued liabilities relating to investing activities	(132,994	)	14,161
CASH USED IN INVESTING ACTIVITIES	(642,299	)	(208,096	)
FINANCING ACTIVITIES
Stock options exercised	26,725		3,013
Repayment of long-term debt	–		(112,973	)
Repayment of lease liabilities	(180,285	)	(197,537	)
CASH USED IN FINANCING ACTIVITIES	(153,560	)	(307,497	)
Increase in cash and cash equivalents	2,041,185		4,261,208
Cash and cash equivalents at beginning of the period	5,369,029		1,857,195
Cash and cash equivalents at end of the period	7,410,214		6,118,403

The complete financial statements are available for review on SEDAR at https://sedar.com/Ceapro and on the Company’s website at www.ceapro.com.

About Ceapro Inc.

Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.

For more information contact:

Jenene Thomas
JTC Team, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
E: czo@jtcir.com

This press release does not express or imply that the Company claims its product has the ability to eliminate, cure or contain the SARS-2-CoV-2 (COVID-19) at this time.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: Ceapro Inc.

Ceapro Inc. Reports Preliminary Results from Clinical Trial Evaluating Oat Beta Glucan in Patients with High Cholesterol Levels

 

EDMONTON, Alberta, Nov. 17, 2021 (GLOBE NEWSWIRE) — Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today reported preliminary results from the clinical study entitled “A Multicenter, Randomized, Double-Blind, Parallel Group, Placebo-Controlled Study to Compare the Efficacy and Safety of High-Medium Molecular Weight Beta-Glucan as Add-On to Statin Therapy in Subjects with Hyperlipidemia”. Following a protocol amendment, patients not treated with a statin were also eligible to enter the study.  

This clinical trial assessed the safety and efficacy of three dosages of oat beta glucan administered as 500 mg pills (1.5 g, 3 g and 6 g per day) compared to placebo. A total of 263 patients (169 females and 94 males) were enrolled in the study. The majority of patients did not receive a statin. The overall compliance to study pill intake was greater than 80%. From a safety perspective, there was no death and beta glucan was generally well tolerated.

The effect of oat beta glucan on the study primary endpoint of change in low-density lipoprotein cholesterol (LDL-C) was not statistically significant compared to placebo. Of note, amongst some positive findings observed with different parameters, there were dosage-related responses in weight and body-mass index at 12 weeks, but they also did not reach statistical significance.

“While we had hoped for a more definitive statistically significant outcome, many observations send some positive signals. They are in accordance with recent data by Cicero et al.¹ on another beta glucan nutraceutical formulation and reinforce the hypothesis that oat beta glucan may offer appreciable health benefits, as indicated in Health Canada’s oat beta glucan approved monograph. While Ceapro’s oat beta glucan product complies with requirements for market authorization for a natural product and seeks to surpass marketed products, continued efforts may be warranted to explore its effect on weight and body-mass index with prolonged exposure and possibly higher dosage. The current study has been conducted under best clinical research practices by the expert team of the Montreal Heart Institute. I am very grateful for their great work, resilience, professionalism and competencies during this pandemic period,” commented Gilles R. Gagnon, Chief Executive Officer of Ceapro.

About Ceapro Inc.

Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.

For more information contact:

Jenene Thomas
JTC Team, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
E: czo@jtcir.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

¹ Arrigo F. G. Cicero et al., « A Randomized Placebo-Controlled Clinical Trial to Evaluate the Medium-Term Effects of Oat Fibers on Human Health: The Beta-Glucan Effects on Lipid Profile, Glycemia and InTestinal Health (BELT) Study », Nutrients 12, n^o 3 (3 mars 2020): E686, https://doi.org/10.3390/nu12030686.

	Image Credit: Jean van der Meulen (Pexels)

Cancers Are in an Evolutionary Battle with Treatments – Evolutionary Game Theory Could Tip the Advantage to Medicine

 

Cancer was the second leading cause of death in the U.S. in 2020. Although billions of dollars have been poured into cancer research, the results are still disappointing for many patients who pay hundreds of thousands of dollars to extend their lives for just a few more months. But why do cancer therapies fail?

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of, Anuraag Bukkuri, PhD Student in Integrated Mathematical Oncology, University of South Florida

 

I’m a doctoral student at the Moffitt Cancer Center and the University of South Florida who develops and applies mathematical and evolutionary theories to understand how cancer works and how to best treat it. And I believe that approaching cancer treatment through the lens of ecology and evolution may help doctors and researchers grapple with this question and fight more effectively against cancer.

Cancer can be seen as being in a predator-prey relationship with the immune system of the body, where cancer is the prey and the immune system is the predator.

 

Standard Treatment Protocols

For decades, standard treatment for cancer involved bombarding patients with the maximum tolerable dose of a drug, attempting to kill as many cancer cells as possible while minimizing adverse side effects.

However, the cancer cells that make up a tumor are not all the same. By random chance, some of these cells develop mutations, or alterations in the cell’s genetic material, that make them immune to a drug. These cells can then proliferate and repopulate the tumor, leading to therapeutic resistance that renders the drug ineffective.

When this occurs, physicians typically switch to another drug that targets a different aspect of the cancer cells. This continues until a therapy is able to effectively control the cancer or no more drugs are available, at which point patients are provided hospice care to make their last days as comfortable as possible.

This protocol has led to the development of a plethora of drugs that target specific features of the tumor’s biology, from boosting the body’s natural defense system to blocking chemical signals on the cancer cells to prevent them from growing. Though some of these drugs have proved to be incredibly effective in a subset of patients, this approach does not work for everyone.

 

The Role of Evolutionary Game Theory

To improve long-term outcomes for all patients, cancer researchers ask two critical questions: How do tumors grow, and how do they become resistant? Looking at cancer through the lens of ecology and evolution, or how the environment of the body molds and is molded by evolving cancer cells over time, can help answer these questions.

One way to think through this is with evolutionary game theory, which uses rigorous mathematics to try to predict how something will react to changes in its environment in a way that maximizes its fitness, or its ability to reproduce.

Evolutionary game theory can help
researchers understand the effect of selective pressures, which are external
factors that affect an organism’s survival. In the case of cancer, selective
pressures can be therapies, and EGT helps researchers understand their effects
on how cancer cells interact with one another and their environment.

For example, consider the principle of the double bind. In nature, this refers to how a prey’s tactic for avoiding one predator results in an increase in the prey’s susceptibility to another. For example, gerbils seek refuge from owls by hiding in bushes scattered across a desert. But snakes are waiting to strike under some of these bushes. The gerbil’s tactics to avoid one predator make it more vulnerable to the other.

Similarly, in cancer, therapies can be administered in a way that leads to a double bind by which the cancer’s growing resistance to one therapy leaves it more susceptible to other therapies. This puts the cancer in an evolutionary trap created from its own adaptations.

These mathematical models have paved the way for the development of therapies using principles from ecology and evolution to better treat and manage cancer. For example, one lung cancer clinical trial gave patients an immunotherapy, which teaches the body’s immune system to recognize and destroy cancer cells, followed by a chemotherapy, which kills cancer cells directly. Exposure to the first treatment sensitized the cancer cells to the second, making the combined treatments more effective than they would have been by themselves.

 

Looking Ahead

Evolutionary game theory can help researchers and oncologists more effectively predict how cancers will respond to different treatments and potentially control the evolutionary trajectory of cancer. This could help ensure optimal outcomes for patients.

While there has been a lot of progress in treating cancer, there’s still a long way to go to make all forms of cancer manageable diseases. One promising path to that goal is harnessing the power of evolution to keep the pressure on cancer.

 

Suggested Reading:

For Stem Cells, Bigger Doesn’t Mean Better

Pros and Cons of FDA Funded in Part by Companies

Attacking Tumors by Returning Cancer Cells to the Body

CPI and PPI Both Suggests Persistent Inflation

 

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	Image Credit: Jean van der Meulen (Pexels)

Cancers Are in an Evolutionary Battle with Treatments – Evolutionary Game Theory Could Tip the Advantage to Medicine

 

Cancer was the second leading cause of death in the U.S. in 2020. Although billions of dollars have been poured into cancer research, the results are still disappointing for many patients who pay hundreds of thousands of dollars to extend their lives for just a few more months. But why do cancer therapies fail?

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of, Anuraag Bukkuri, PhD Student in Integrated Mathematical Oncology, University of South Florida

 

I’m a doctoral student at the Moffitt Cancer Center and the University of South Florida who develops and applies mathematical and evolutionary theories to understand how cancer works and how to best treat it. And I believe that approaching cancer treatment through the lens of ecology and evolution may help doctors and researchers grapple with this question and fight more effectively against cancer.

Cancer can be seen as being in a predator-prey relationship with the immune system of the body, where cancer is the prey and the immune system is the predator.

 

Standard Treatment Protocols

For decades, standard treatment for cancer involved bombarding patients with the maximum tolerable dose of a drug, attempting to kill as many cancer cells as possible while minimizing adverse side effects.

However, the cancer cells that make up a tumor are not all the same. By random chance, some of these cells develop mutations, or alterations in the cell’s genetic material, that make them immune to a drug. These cells can then proliferate and repopulate the tumor, leading to therapeutic resistance that renders the drug ineffective.

When this occurs, physicians typically switch to another drug that targets a different aspect of the cancer cells. This continues until a therapy is able to effectively control the cancer or no more drugs are available, at which point patients are provided hospice care to make their last days as comfortable as possible.

This protocol has led to the development of a plethora of drugs that target specific features of the tumor’s biology, from boosting the body’s natural defense system to blocking chemical signals on the cancer cells to prevent them from growing. Though some of these drugs have proved to be incredibly effective in a subset of patients, this approach does not work for everyone.

 

The Role of Evolutionary Game Theory

To improve long-term outcomes for all patients, cancer researchers ask two critical questions: How do tumors grow, and how do they become resistant? Looking at cancer through the lens of ecology and evolution, or how the environment of the body molds and is molded by evolving cancer cells over time, can help answer these questions.

One way to think through this is with evolutionary game theory, which uses rigorous mathematics to try to predict how something will react to changes in its environment in a way that maximizes its fitness, or its ability to reproduce.

Evolutionary game theory can help
researchers understand the effect of selective pressures, which are external
factors that affect an organism’s survival. In the case of cancer, selective
pressures can be therapies, and EGT helps researchers understand their effects
on how cancer cells interact with one another and their environment.

For example, consider the principle of the double bind. In nature, this refers to how a prey’s tactic for avoiding one predator results in an increase in the prey’s susceptibility to another. For example, gerbils seek refuge from owls by hiding in bushes scattered across a desert. But snakes are waiting to strike under some of these bushes. The gerbil’s tactics to avoid one predator make it more vulnerable to the other.

Similarly, in cancer, therapies can be administered in a way that leads to a double bind by which the cancer’s growing resistance to one therapy leaves it more susceptible to other therapies. This puts the cancer in an evolutionary trap created from its own adaptations.

These mathematical models have paved the way for the development of therapies using principles from ecology and evolution to better treat and manage cancer. For example, one lung cancer clinical trial gave patients an immunotherapy, which teaches the body’s immune system to recognize and destroy cancer cells, followed by a chemotherapy, which kills cancer cells directly. Exposure to the first treatment sensitized the cancer cells to the second, making the combined treatments more effective than they would have been by themselves.

 

Looking Ahead

Evolutionary game theory can help researchers and oncologists more effectively predict how cancers will respond to different treatments and potentially control the evolutionary trajectory of cancer. This could help ensure optimal outcomes for patients.

While there has been a lot of progress in treating cancer, there’s still a long way to go to make all forms of cancer manageable diseases. One promising path to that goal is harnessing the power of evolution to keep the pressure on cancer.

 

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Ceapro Inc. Reports Preliminary Results from Clinical Trial Evaluating Oat Beta Glucan in Patients with High Cholesterol Levels

 

EDMONTON, Alberta, Nov. 17, 2021 (GLOBE NEWSWIRE) — Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today reported preliminary results from the clinical study entitled “A Multicenter, Randomized, Double-Blind, Parallel Group, Placebo-Controlled Study to Compare the Efficacy and Safety of High-Medium Molecular Weight Beta-Glucan as Add-On to Statin Therapy in Subjects with Hyperlipidemia”. Following a protocol amendment, patients not treated with a statin were also eligible to enter the study.  

This clinical trial assessed the safety and efficacy of three dosages of oat beta glucan administered as 500 mg pills (1.5 g, 3 g and 6 g per day) compared to placebo. A total of 263 patients (169 females and 94 males) were enrolled in the study. The majority of patients did not receive a statin. The overall compliance to study pill intake was greater than 80%. From a safety perspective, there was no death and beta glucan was generally well tolerated.

The effect of oat beta glucan on the study primary endpoint of change in low-density lipoprotein cholesterol (LDL-C) was not statistically significant compared to placebo. Of note, amongst some positive findings observed with different parameters, there were dosage-related responses in weight and body-mass index at 12 weeks, but they also did not reach statistical significance.

“While we had hoped for a more definitive statistically significant outcome, many observations send some positive signals. They are in accordance with recent data by Cicero et al.¹ on another beta glucan nutraceutical formulation and reinforce the hypothesis that oat beta glucan may offer appreciable health benefits, as indicated in Health Canada’s oat beta glucan approved monograph. While Ceapro’s oat beta glucan product complies with requirements for market authorization for a natural product and seeks to surpass marketed products, continued efforts may be warranted to explore its effect on weight and body-mass index with prolonged exposure and possibly higher dosage. The current study has been conducted under best clinical research practices by the expert team of the Montreal Heart Institute. I am very grateful for their great work, resilience, professionalism and competencies during this pandemic period,” commented Gilles R. Gagnon, Chief Executive Officer of Ceapro.

About Ceapro Inc.

Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.

For more information contact:

Jenene Thomas
JTC Team, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
E: czo@jtcir.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

¹ Arrigo F. G. Cicero et al., « A Randomized Placebo-Controlled Clinical Trial to Evaluate the Medium-Term Effects of Oat Fibers on Human Health: The Beta-Glucan Effects on Lipid Profile, Glycemia and InTestinal Health (BELT) Study », Nutrients 12, n^o 3 (3 mars 2020): E686, https://doi.org/10.3390/nu12030686.

Ceapro Inc. Reports 2021 Third Quarter and Nine-Month Financial Results and Operational Highlights

 

– Increased R&D activities focused on the completion of a clinical trial for oat beta glucan as a potential cholesterol reducer and on the development of yeast beta glucan as a potential inhalable therapeutic for COVID-19 –

– Q3 2021 record sales of $4,523,000 compared to $3,476,000 for Q3 2020, representing a 30% increase –

– Net profit of $875,000 for Q3 2021 vs. net profit of $192,000 for Q3 2020, a 356% increase –

– Achieved record production levels despite COVID-19 pandemic situation –

EDMONTON, Alberta, Nov. 17, 2021 (GLOBE NEWSWIRE) — Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced financial results and operational highlights for the third quarter and the first nine months ended September 30, 2021.

“Progress continues on all fronts from production operations to research and development, allowing us to advance our pipeline while expanding our business model. We are extremely proud of our employees who worked tirelessly since the beginning of the year to maintain operations and deliver these very solid results despite the COVID-19 pandemic. As we continue to move forward, our focus remains on the health and safety of our associates, followed by business continuity,” stated Gilles Gagnon, M.Sc., MBA, President and CEO.

Corporate and Operational Highlights

Pipeline Development:

• Pursued the development of new PGX-dried chemical complexes for potential applications under various forms like pills, capsules, fast dissolving strips and face masks. Alginate and yeast beta glucan to become key products of Ceapro’s portfolio.
• Resumed bioavailability studies with University of Alberta for new chemical complexes yeast beta glucan-CoQ10, alginate-CoQ10 and newly formed alginate yeast beta glucan-CoQ10.
• Announced research agreement with Boston-based Angiogenesis Foundation to assess in vivo bioefficacy of oat beta glucan and avenanthramides in angiogenesis, blood vessel repairs, wound healing and tissue regeneration in various inflammation-based diseases and conditions like COVID-19 presenting damages of the lung blood vessels.
• Expanded collaboration with Montreal Heart Institute to initiate a Phase 1 clinical trial to assess safety and tolerability of pharmaceutical grade avenanthramides powder formulation.
• Conducting in vivo studies with McMaster University with yeast beta glucan as a potential inhalable therapeutic.
  

Technology:

• Pursued installment in Edmonton of a commercial scale unit for impregnation of bioactives with PGX-processed biopolymers.
• Ongoing engineering design for PGX processing commercial unit.

Production Operations:

• Achieved record levels with production of over 70 MT of finished products during the last quarter reliably providing our customers essential high quality products.
  

Subsequent to Quarter:

• Announced discovery of a new mechanism of action for PGX processed yeast beta glucan (PGX-YBG) as a potential inhalable therapeutic for lung fibrotic diseases including COVID-19 patients.
  • PGX-YBG binds to specific receptors (Dectin 1) located on macrophages responsible for the cascade of immunomodulating events when activated.
  • McMaster’s research team demonstrates ability of PGX-YBG to reprogram macrophages on its own.
• Reported preliminary results from clinical trial evaluating oat beta glucan in patients with high cholesterol levels. The study did not achieve the expected primary endpoint related to a decrease of low-density lipoproteins cholesterol when using Ceapro’s pill dosage form. While there was no statistically significant difference between the placebo group and the different dosages of beta glucan, there were positive signals that beta glucan nutraceutical formulation may offer appreciable health benefits as indicated with approved Health Canada’s beta glucan monograph (Natural Product Division)

Financial Highlights for the Third Quarter and Nine-Month Period Ended September 30, 2021

• Total sales of $4,523,000 for the third quarter of 2021 and $13,633,000 for the first nine months of 2021 compared to $3,476,000 and $12,415,000 for the comparative periods in 2020. The 10% increase in sales for the first nine months is mainly due to a significant increase in sales of avenanthramides in the USA compared to the same period in 2020.
• Net profit of $875,000 for the third quarter of 2021 and $2,067,000 for the first nine months of 2021 compared to a net profit of $192,000 and $2,395,000 for the comparative periods in 2020. Increased net profit for the third quarter of 2021 comes from improved margin of 65.2% as compared to 47.8% in 2020. Improved margins in 2021 result from the buying of excellent source material and from the diligent work of highly skilled personnel operating in only one site as compared to two sites in 2020.
• R&D investments were $1,400,000 for Q3 2021 compared to $479,000 for the same period in 2020. The significant increase being due to payments made to Montreal Heart Institute for a clinical trial for the assessment of oat beta glucan as a potential cholesterol reducer by almost $1.0 million during Q3 2021.
• Cash flows generated from operations of $2,837,000for the first nine months in 2021 vs $4,777,000 in 2020.
• Positive working capital balance of $10,367,000 as of September 30, 2021.
  

“Looking ahead, while considering the ongoing potential economic impact related to COVID-19, evolving consumption trends and escalating inflationary levels we believe Ceapro is well-positioned to once again deliver a strong growth in sales well in line with the positive trend achieved over the last years. While we have experienced a “bump in the road” with the beta glucan trial, our solid base business and expanded pipeline will enable us to pursue the expansion of our business model to the nutraceutical sector with avenanthramides and yeast beta glucan for which we are going to conduct more preclinical assays before investing at large scale levels. With a strong balance sheet, a group of dedicated people, and a solid base business, coupled with the innovative technologies and products that we have developed to enable us to expand, Ceapro is poised to emerge as a successful life science company,” concluded Mr. Gagnon.

CEAPRO INC.
Condensed Interim Consolidated Balance Sheets
Unaudited
	September 30,		December 31,
	2021		2020
	$		$
ASSETS
Current Assets
Cash and cash equivalents	7,410,214		5,369,029
Trade receivables	2,716,058		2,019,723
Other receivables	39,522		102,224
Inventories (note 3)	1,532,271		1,210,079
Prepaid expenses and deposits	133,760		348,845
Total Current Assets	11,831,825		9,049,900
Non-Current Assets
Investment tax credits receivable	607,700		607,700
Deposits	82,124		82,124
Licences (note 4)	16,292		18,514
Property and equipment (note 5)	17,776,791		18,591,189
Deferred tax assets	874,304		874,304
Total Non-Current Assets	19,357,211		20,173,831
TOTAL ASSETS	31,189,036		29,223,731
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable and accrued liabilities	1,097,645		1,067,622
Current portion of lease liabilities (note 6)	286,608		250,658
Current portion of CAAP loan (note 8)	80,811		72,263
Total Current Liabilities	1,465,064		1,390,543
Non-Current Liabilities
Long-term lease liabilities (note 6)	2,432,682		2,648,917
Deferred tax liabilities	874,304		874,304
Total Non-Current Liabilities	3,306,986		3,523,221
TOTAL LIABILITIES	4,772,050		4,913,764
Equity
Share capital (note 7 (b))	16,557,401		16,511,067
Contributed surplus (note 7 (e))	4,676,456		4,682,393
Retained earnings	5,183,129		3,116,507
Total Equity	26,416,986		24,309,967
TOTAL LIABILITIES AND EQUITY	31,189,036		29,223,731

CEAPRO INC.
Condensed Interim Consolidated Statements of Net Income and Comprehensive Income
Unaudited
	Quarters				Nine Months
	Ended September 30,				Ended September 30,
	2021		2020		2021		2020
	$		$		$		$
Revenue (note 14)	4,522,980		3,475,625		13,633,354		12,414,970
Cost of goods sold	1,573,655		1,814,080		5,787,608		5,794,573
Gross margin	2,949,325		1,661,545		7,845,746		6,620,397
Research and product development	1,403,186		478,993		3,050,544		1,381,332
General and administration	766,605		791,217		2,431,659		2,494,514
Sales and marketing	4,957		12,395		34,557		89,830
Finance costs (note 11)	37,684		43,066		169,938		189,258
Income from operations	736,893		335,874		2,159,048		2,465,463
Other (expenses) income (note 10)	138,381		(144,251	)	(92,426	)	(70,746	)
Income before tax	875,274		191,623		2,066,622		2,394,717
Income taxes	–		–		–		–
Total comprehensive income for the period	875,274		191,623		2,066,622		2,394,717
Net income per common share (note 17):
Basic	0.01		0.00		0.03		0.03
Diluted	0.01		0.00		0.03		0.03
Weighted average number of common shares outstanding (note 17):
Basic	77,684,017		77,610,113		77,669,747		77,585,679
Diluted	78,740,532		78,700,415		78,694,469		78,039,105

CEAPRO INC.
Condensed Interim Consolidated Statements of Cash Flows
Unaudited
	2021		2020
Nine Months Ended September 30,	$		$
OPERATING ACTIVITIES
Net income for the period	2,066,622		2,394,717
Adjustments for items not involving cash
Finance costs	106,390		117,237
Transaction costs	–		1,108
Depreciation and amortization	1,408,392		1,382,838
Gain on disposal of equipment	(5,000	)	–
Accretion	8,548		15,913
Share-based payments	13,672		122,902
Net income for the period adjusted for non-cash items	3,598,624		4,034,715
CHANGES IN NON-CASH WORKING CAPITAL ITEMS
Trade receivables	(696,335	)	1,821,449
Other receivables	62,702		(96,375	)
Inventories	(322,192	)	(522,670	)
Prepaid expenses and deposits	137,618		12,471
Accounts payable and accrued liabilities relating to operating activities	163,017		(355,552	)
Total changes in non-cash working capital items	(655,190	)	859,323
Net income for the period adjusted for non-cash and working capital items	2,943,434		4,894,038
Interest paid	(106,390	)	(117,237	)
CASH GENERATED FROM OPERATIONS	2,837,044		4,776,801
INVESTING ACTIVITIES
Purchase of property and equipment	(494,833	)	(222,610	)
Purchase of leasehold improvements	(19,472	)	–
Proceeds from sale of equipment	5,000		353
Accounts payable and accrued liabilities relating to investing activities	(132,994	)	14,161
CASH USED IN INVESTING ACTIVITIES	(642,299	)	(208,096	)
FINANCING ACTIVITIES
Stock options exercised	26,725		3,013
Repayment of long-term debt	–		(112,973	)
Repayment of lease liabilities	(180,285	)	(197,537	)
CASH USED IN FINANCING ACTIVITIES	(153,560	)	(307,497	)
Increase in cash and cash equivalents	2,041,185		4,261,208
Cash and cash equivalents at beginning of the period	5,369,029		1,857,195
Cash and cash equivalents at end of the period	7,410,214		6,118,403

The complete financial statements are available for review on SEDAR at https://sedar.com/Ceapro and on the Company’s website at www.ceapro.com.

About Ceapro Inc.

Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.

For more information contact:

Jenene Thomas
JTC Team, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
E: czo@jtcir.com

This press release does not express or imply that the Company claims its product has the ability to eliminate, cure or contain the SARS-2-CoV-2 (COVID-19) at this time.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: Ceapro Inc.

Tuesday, November 16, 2021

Schwazze (SHWZ)
Reports 3Q21 Results; Adding Another Dispensary

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q21 Results. Revenue totaled $31.8 million, up from $30.7 million sequentially, and up 328.4% over the same period last year. Adjusted EBITDA for the quarter was $8.8 million, down from $10.0 million sequentially and representing a 27.6% margin. Schwazze recorded net income of $968,756, or $0.02 per diluted share compared to a loss of $2.9 million, or $0.07 per share, last year. We were at $34.2 million and $0.06, respectively.


Operating Metrics Improving.  Notably, Schwazze continues to outperform the overall Colorado market, with sales at the 17 Star Buds up 1% in the quarter compared to an overall decline in the market of 10.5%. Average basket size was $59.05, up 7.3%. Recorded customer visits fell 5.8% in the quarter, but were up 5.1% YTD to 1,046,232. GM increased to 47.3% from 37.4% last year …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

	Image Credit: MIT Research

This Light-Powered Catalyst Mimics Photosynthesis

 

Anne Trafton | MIT News Office

By mimicking photosynthesis, the light-driven process that plants use to produce sugars, MIT researchers have designed a new type of photocatalyst that can absorb light and use it to drive a variety of chemical reactions.

The new type of catalyst, known as a biohybrid photocatalyst, contains a light-harvesting protein that absorbs light and transfers the energy to a metal-containing catalyst. This catalyst then uses the energy to perform reactions that could be useful for synthesizing pharmaceuticals or converting waste products into biofuels or other useful compounds.

“By replacing harmful conditions and reagents with light, photocatalysis can make pharmaceutical, agrochemical, and fuel synthesis more efficient and environmentally compatible,” says Gabriela Schlau-Cohen, an associate professor of chemistry at MIT and the senior author of the new study.

Working with colleagues at Princeton University and North Carolina State University, the researchers showed that the new photocatalyst could significantly boost the yield of the chemical reactions they tried. They also demonstrated that, unlike existing photocatalysts, their new catalyst can absorb all wavelengths of light.

 

High-Energy Reactions

Most catalysts speed up reactions by lowering the energy barrier needed for the reaction to occur. In the past 20 years or so, chemists have made great strides in developing photocatalysts — catalysts that can absorb energy from light. This allows them to catalyze reactions that couldn’t occur without that extra input of energy.

“In photocatalysis, the catalyst absorbs light energy to go to a much more highly excited electronic state. And through that energy, it introduces reactivity that would be prohibitively energy-intensive if all that was available were ground-state energy,” Schlau-Cohen says.

This is analogous to what plants do during photosynthesis. Plant cells’ photosynthetic machinery includes light-absorbing pigments such as chlorophyll that capture photons from sunlight. This energy is then transferred to other proteins that store the energy as ATP, and that energy is then used to produce carbohydrates.

In previous work on photocatalysts, researchers have used one molecule to perform both the light absorption and catalysis. This approach has limitations because most of the catalysts used can only absorb certain wavelengths of light, and they don’t absorb light efficiently.

“When you have one molecule that needs to do the light-harvesting and the catalysis, you can’t simultaneously optimize for both things,” Schlau-Cohen says. “It’s for that reason that natural systems separate them. In photosynthesis, there’s a dedicated architecture where some proteins do the light-harvesting and then funnel that energy directly to the proteins that do the catalysis.”

To create their new biohybrid catalyst, the researchers decided to mimic photosynthesis and combine two separate elements: one to harvest light and another to catalyze the chemical reaction. For the light-harvesting component, they used a protein called R-phycoerythrin (RPE), found in red algae. They attached this protein to a ruthenium-containing catalyst, which has been previously used for photocatalysis on its own.

 

 

Working with North Carolina State University researchers led by professor of chemistry Felix Castellano, Schlau-Cohen’s lab showed that the light-harvesting protein could effectively capture light and transfer it to the catalyst. Then, Princeton University researchers led by David MacMillan, a professor of chemistry and a recent recipient of the Nobel Prize in chemistry, tested the performance of the catalyst in two different types of chemical reactions. One is a thiol-ene coupling, which joins a thiol and an alkene to form a thioether, and the other replaces a leftover thiol group with methyl after peptide coupling.

The Princeton team showed that the new biohybrid catalyst could boost the yield of these reactions up to tenfold, compared to the ruthenium photocatalyst on its own. They also found that the reactions could occur under illumination with red light, which has been difficult to achieve with existing photocatalysts and is beneficial because it produces fewer unwanted side reactions and is less damaging to tissue, so it could potentially be used in biological systems.

 

Chemical Synthesis

This improved photocatalyst could be incorporated into chemical processes that use the two reactions tested in this study, the researchers say. Thiol-ene coupling is useful for creating compounds used in protein imaging and sensing, drug delivery, and biomolecule stability. As one example, it is used to synthesize lipopeptides that may enable easier uptake of antigen vaccine candidates. The other reaction the researchers tested, cysteinyl desulfurization, has many applications in peptide synthesis, including the production of enfurvitide, a drug that could be used to treat HIV.

This type of photocatalyst could also potentially be used to drive a reaction called lignin depolymerization, which could help to generate biofuels from wood or other plant materials that are difficult to break down.

The researchers now plan to try swapping in different light-harvesting proteins and catalysts, to adapt their approach for a variety of chemical reactions.

“We did a proof of principle where you can separate light-harvesting and catalytic function. Now we want to think about varying the catalytic piece and varying the light-harvesting piece to expand that toolkit, to see if this approach can work in different solvents and in different reactions,” Schlau-Cohen says.

 

*This work was supported as part of the Bioinspired Light-Escalated Chemistry (BioLEC) Energy Frontier Research Center, funded by the U.S. Department of Energy Office of Science.

 

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Tuesday, November 16, 2021

Schwazze (SHWZ)
Reports 3Q21 Results; Adding Another Dispensary

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q21 Results. Revenue totaled $31.8 million, up from $30.7 million sequentially, and up 328.4% over the same period last year. Adjusted EBITDA for the quarter was $8.8 million, down from $10.0 million sequentially and representing a 27.6% margin. Schwazze recorded net income of $968,756, or $0.02 per diluted share compared to a loss of $2.9 million, or $0.07 per share, last year. We were at $34.2 million and $0.06, respectively.


Operating Metrics Improving.  Notably, Schwazze continues to outperform the overall Colorado market, with sales at the 17 Star Buds up 1% in the quarter compared to an overall decline in the market of 10.5%. Average basket size was $59.05, up 7.3%. Recorded customer visits fell 5.8% in the quarter, but were up 5.1% YTD to 1,046,232. GM increased to 47.3% from 37.4% last year …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, November 16, 2021

Cocrystal Pharma Inc. (COCP)
3Q21 Reported With Phase 1 Influenza Trial Expected To Begin

Cocrystal Pharma Inc is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, hepatitis C viruses, and noroviruses. The company employs structure-based technologies and Nobel Prize-winning expertise to create first-and best-in-class antiviral drugs. It is developing CC-31244, an investigational, oral, broad-spectrum replication inhibitor called a non-nucleoside inhibitor (NNI). CC-31244 is currently being evaluated in a Phase 2a study for the treatment of hepatitis C as part of a cocktail for ultra-short therapy of 4 to 6 weeks.

Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q21 Reported. Cocrystal reported a 3Q21 loss of $3.9 million or $(0.04) per share, compared with our expected loss of $3.1 million or $(0.03) per share. The company also confirmed the projected early 2022 start for its Phase 1 Influenza trial, and updated progress on the intranasal and orally administered versions of CDI-45205, a protease inhibitor for SARS-CoV-2 (the virus that causes COVID-19). Cash balance at the end of the quarter was $61.6 million.


Influenza Trial Is Planned For IQ22.  The first product from the programs for seasonal and pandemic influenza, CC-42344, is a PB2 inhibitor expected to begin Phase 1 enrollment in early 2022. The trial is being conducted in Australia where the flu season occurs in the middle of the calendar year, with data is expected later in the year. Separately, the Influenza A/B collaboration with Merck could …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Monday, November 15, 2021

Helius Medical Technologies (HSDT)(HSM:CA)
3Q21 Results; Raises $9.8 million, net

Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first commercial product is the Portable Neuromodulation Stimulator (PoNSTM). For more information, visit www.heliusmedical.com.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q21 Operating Results. Revenue of $109,000 and a net loss of $4.7 million, or $2.01 per share. This compares to revenue of $131,000 and a net loss of $3.5 million, or $2.70 per share, in the third quarter last year. (Share count increased to 2.4 million from 1.3 million y-o-y.) We had forecast revenue of $79,000 and a net loss $4.2 million, or $1.75 per share.


Early Days.  Helius remains in the top of the first inning in terms of PoNS commercialization. The better than expected revenue is due to a slow re-opening of Canada from COVID restrictions. The Company has established 36 clinics throughout the country. The main difference in the loss is due to $0.9 million of severance cost related to the former CFO …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.