SANDUSKY, Ohio, April 13, 2021 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today released a management update on the company's ongoing CBD Pharmaceutical Development Program.
Last year, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a CBD treatment under development for Chronic Obstructive Pulmonary Disorder (COPD) derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT."
Since the acquisition, PAOG engaged Veristat, a contract research organization (CRO), dedicated to the clinical advance of therapies and treatments through regulatory approval. PAOG reports Veristat is making substantial progress in validating and supplementing the underlying research behind RespRx.
PAOG Expects New Research Funding And 25% Interest In Cannabis Extraction Patent
PAOG is in final negotiations to enter into a partnership to conduct a CBD In Vivo Histological Research Study advancing RespRx further through regulatory approval. The partnership would include PAOG gaining a 25% interest in the underlying Patented Cannabis Extraction technology through which the RespRx formula is derived and could result in PAOG owning the Patent outright. PAOG has secured an investment commitment to fund the research and partnership interest in the Patented Cannabis Extraction technology.
The partnership interest in the underlying Cannabis Extraction process would expand PAOG's pharmaceutical development reach potential beyond RespRx.
For more background on PAOG's other CBD therapy developments, view a comprehensive PAOG update recently released on the company's CBD Nutraceutical Development Program with the first PAOG CBD Nutraceutical products, packaged by Alkame Holdings, Inc. (USOTC: ALKM), expected to come to market before the end of this year marketed through North American Cannabis Holdings, Inc. (USOTC: USMJ).
Learn more about PAOG at www.paogroupinc.com.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
SOURCE PAO Group, Inc.