Asia Green Biotechnology Corp. Expands Technology Development Relationship with Pathway Rx Inc. and Swysh Inc. with Agreement to Undertake Initial Toxicity Testing for Migraine Study

CALGARY, AB / ACCESSWIRE / February 9, 2021 / Asia Green Biotechnology Corp. (“AGB” or the “Company”) (CSE:ASIA) is pleased to announce that it has entered an agreement with Pathway Rx Inc. (“Pathway Rx”) and Swysh Inc. (“Swysh”) pursuant to which AGB has expanded its commitment to assist in the develop and commercialize the Cannabis sativa varieties to which Pathway Rx Inc. and Swysh Inc. own the rights for prevention and treatment of certain infectious diseases. Both Pathway and Swysh have previously entered agreements with the Company to participate in and conduct clinical trials and other research activities related to possible Covid -19 treatments. This new agreement serves as an adjunct to those agreements by setting a course to fund and complete initial scientific trials activities on a general basis and in particular with respect to treatments for migraine and related health issues previously being developed by Pathway/Swysh. Specifically, this agreement is intended to address funding for pre-clinical toxicity trials required by Health Canada as precursors to more detailed clinical work to be completed in association with regional universities or similar institutions.

All three companies continue to pursue a program to have these varieties, and possibly other versions of the strains, studied for their efficacy in humans and eventually approved and applied as new drugs and as over-the-counter health products. This agreement expands the license to AGB to deploy the technology for the purpose of completing further research, development, testing and additional validation and establishment of practical applications with a view to commercialization of the technology in the greater region of Asia. While this agreement expands the level of participation of AGB in this research, the Company has also been advised that PNW Biosciences Inc., a third-party partner in the agreement among AGB and Pathway Rx, has withdrawn from that arrangement and will not longer participate in funding clinical trials of Pathway Rx’s Covid-related potential treatments. The new license agreement establishes a fundamental basis for the Company, Pathway Rx and Swysh to continue to move forward with validation activities. In the meantime, Pathway Rx has entered an independent agreement with a third party American company to undertake clinical studies of Pathway Rx’s Covid treatments. This arrangement does not affect the licensing rights of AGB relative to its Asian territory.

Under the terms of the new agreement, AGB will independently support commencement of the toxicity studies required as a key step in the process of detailed evaluation and eventual conduct of clinical studies of the impact of human health conditions which may be impacted by the Cannabis sativa varieties controlled by Swysh and Pathway Rx. The particular focus of this study and further studies which may be derived from it is on the ability of an element of a proprietary strain to treat and minimize symptoms in those suffering from migraine headaches. In addition to the suffering of individuals, migraine also has an impact on society which can be measured in both direct costs (medical care etc.) and indirect costs (missed work and disability at work).

The toxicity study will be completed in two stages with the initial stage of the study costing $20,000 and the second, more detailed stage costing $80,000. Presently, the parties are evaluating qualified service providers and expect to engage such an institution to commence the first stage within 60 days. The successful completion of the toxicity study is anticipated to lead to further clinical studies. In the event that the results of these studies are successful and commercialization of the various products derived therefrom is possible, consideration payable by the Company to Pathway Rx and Swysh includes royalties on the sale of these products in the licensed territories in Asia on a sliding scale.

Dr. Igor Kovalchuk, a director of AGB, is also the chief executive, a director and a shareholder of Pathway Rx and Swysh (controlling shareholder). As such, he will maintain an active and direct role in the initiation and ongoing administration of the trials to be undertaken. Dr. Kovalchuk and his partner, Dr. Olga Kovalchuk have, through Pathway Rx and Swysh, been the primary principals in the research and development activities undertaken in relation to the subject cannabinoid varieties. In commenting on these developments, Dr. Kovalchuk stated: “We are happy to continue expanding our relationship with AGB and are particularly pleased that AGB will be assisting Pathway Rx and Swysh to progress our testing activity relative to potential migraine headache treatments which we hope may be sourced through our specialized varieties of cannabis sativa. We are confident that we can expand our understanding of the important potential of these products through our continued and positive relationship with AGB.”

About AGB:

AGB is an early stage international bio-technology company focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The core approach of the business is centred on the planting, growth and harvesting of new and valuable strains of hemp and related crops in commercial quantities under the terms of license agreements with InPlanta Biotechnology Inc., Swysh Inc. and Pathway Rx Inc.

For further information, contact:
David Pinkman
Chief Executive Officer
(403) 863-6034

The Company is not making any express or implied claims that any product produced pursuant to the terms of its license agreements has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronovirus), migraine conditions or any other medical condition at this time.

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

SOURCE: Asia Green Biotechnology Corp.

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