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TORONTO, April 24, 2019 /PRNewswire/ - Ethicann Pharmaceuticals Inc. ("Ethicann" or the "Company"), a Toronto based ethical pharmaceutical company using pharmaceutical grade botanically sourced cannabinoid oils to formulate ethical drugs, announces the hiring of an experienced drug development executive and the formation of its medical advisory board.

Dr. Ulrich Elben, Ph.D., an experienced international drug development pharmaceutical expert, has been hired as Director of Drug Development.  Dr. Elben was previously with Axxima Pharmceuticals (Munich, Germany), and previously managed drug development at Vertex Pharmaceuticals (Boston, US) and Avant Pharmaceuticals (India/US), obtaining market approvals in USA, Asia, and Europe.  His experience includes organizing, conducting clinical and pre-clinical operations, and successfully obtaining in the US (New Drug Applications)/Europe Market Authorization application(MAA).

Dr. Joseph Goldstrich, M.D., Chairman of the Ethicann Medical Advisory Board, has over 50 years' clinical experience in fibromyalgia, pain, cardiovascular diseases, and more recently in use of cannabis to treat diseases.  He is a certified Diplomate of the American Board of Internal Medicine and Cardiovascular Diseases and Clinical Lipidology.  He is also a Board Member of the Society of Cannabis Clinicians and a clinical leader exploring cannabis treatment of various diseases.

Dr. Richard Harry McIlroy III, M.D. has over 25 years' clinical experience working with plant-based medicines, and has been involved in cannabis drug treatments, in particular with opioid addition.  He has been involved in an opioid tapering clinical study using cannabis, herbs and supplements, and is a member of the Society of Cannabis Clinicians, American Board of Family Medicine, and Multidisciplinary Association for Psychedelic Studies.

Dr. Daniel Perl, M.D., is a Professor of Pathology at Uniformed Services University of the Health Sciences, where he researches acute and long-term effects of traumatic brain injury in military Service Members, such as PTSD. In 2016, Dr. Perl described brain lesions in Iraq veterans who suffered severe traumatic brain injury, referred to as PTSD.  He has also studied Alzheimer's and other age related neurodegenerative disorders.

The Company was formed in 2018 as a global pharma enterprise.  Over the last 11 months, the Company has achieved a number of important milestones to further its business plan, including an FDA Pre-IND meeting on its first product to treat chemotherapy induced nausea and vomiting (CINV), and a written response from Health Canada on its second product to treat MS spasticity.  Based on this regulatory feedback, the Company expects to initiate the requisite limited bioequivalence studies on both drugs within 2019-2020 and to submit FDA/HC market approval applications in 2020-2021.  The Company plans to use clinical data from such clinical trials to globally market its products through various distributors.

Forward-looking statement:

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Ethicann and anticipated events or results, are assumptions based on beliefs of Ethicann's senior management as well as information currently available to it. While these assumptions were considered reasonable by Ethicann at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Ethicann to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities, general economic, market and business conditions, as well as other risks and uncertainties. Ethicann does not undertake any obligation to update forward-looking statements should these assumptions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Ethicann securities.

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SOURCE Ethicann Pharamaceuticals Inc.