Mondias announces successful completion of CELEXT07 evaluation with Premier Tech
Mar. 30, 2020
Mondias Natural Products Inc. (NHP.V) (the "Company" or "Mondias") specializing in evidence-based natural products for the healthcare, bio-agriculture and functional beverages markets recently announced that the Company has successfully completed the initial research studies previously announced with Premier Tech. Premier Tech efficacy results for CELEXT07 confirm that the product has potential as a biocontrol and bio-stimulant agent. As part of the research agreement, Premier Tech has shared study results with Mondias and both parties have completed the 180-day exclusivity period. In addition, both parties have agreed to extend their research collaboration to confirm Mondias' results and protocol on the use of CELEXT07 as a bio-stimulant in medicinal crops under greenhouse conditions.
Mondias CEO Dr. Patrick Frankham stated that "these results confirm that CELEXT07 is a versatile and robust organic agriculture product and that the previous data generated by our CSO Dr. Samsatly and his team in collaboration with the McGill University Faculty of Agricultural and Environmental Sciences are highly reproducible as reported by our colleagues at Premier Tech." Dr. Frankham added that "the Company is positioning CELEXT07 as a commercial product to initiate product sales including ongoing discussions with potential partners. Given our prior experience with cannabis plants and the time to market this represents the best opportunity to monetize the product."
Dr. Jamil Samsatly, Mondias CSO stated that "over the past 6 months, we have continued to advance our agricultural research and developed commercial application protocols for the use of CELEXT07 in various crops." Dr. Samsatly also added that "we have initiated MITACS grant funded research and we have expanded our pipeline of novel organic plant biocontrol and bio-stimulants."
CELEXT07 Target Markets in Canada
As of 2018, there was an estimated 11M square feet of cannabis greenhouse in Canada and an eligible 59M , 53M , 39M square feet of greenhouse tomatoes, peppers and cucumbers in the country. According to Health Canada data there are an estimated 29,193 individuals registered for personal and designated cultivation of cannabis for their own medical purposes at the end of September 2019.
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