Medipure Pharmaceuticals has established itself as a biopharmaceutical incubator committed to discovering and developing proprietary cannabinoid-derived prescription medications through state of the art research and development. Medipure is wrapping up an extremely successful 2017 with highlights that include achieving new research milestones, developing new strategic relationships, adding renowned industry leaders to the team, and much more.
The Company spent much of the year developing its cannabinoid-derived pharmaceutical research programs with target indications including pain management, mood disorders/anxiety, nausea, appetite, oncology, arthritis, and dermatology (dermatitis and psoriasis). The Company entered into new strategic relationships to develop the first ever formulations of their MP-10X and MP-20X pharmaceutical products with the first round of formulations available for research starting in early 2018.
In order to prepare for an aggressive year of growth in 2018, Medipure expanded its corporate offices in Vancouver with an additional 2,500 square feet and plans to add between 17-19 new positions by Q2 2018. In addition to its corporate office, the Company added 1,200 square feet to their existing 2,550-square-foot research lab facility in Burnaby, B.C., with a further 2,850-square-foot expansion scheduled for the end of Q2 2018. This expanded footprint will allow Medipure to advance research in-house versus outsourcing due to space constraints, while retaining the top talent in the industry.
Finally in 2017, Medipure's renowned Scientific Advisory Board, all top talent in their respective fields, grew with the addition of Dr. Gerald Zamponi. Dr. Zamponi is an expert in the molecular physiology and pharmacology of ion channels and receptors and the role they play in pain signaling. He will be an extremely valuable resource as Medipure takes the next steps in the clinical development of its pain program. By market size, pain is the largest indication targeted by the pharmaceutical industry with over 1.5 billion people seeking treatment worldwide.
Medipure CEO Boris Weiss commented, "This was an exciting year for Medipure as we continued to deliver on strategic initiatives that furthered our research, identifying cannabinoid-derived molecules that can be used as non-addictive pharmaceutical drugs, as more and more information is identified and validated on the potential benefits from the various molecules within the cannabis plant."
The Company looks forward to 2018 as they advance the agenda to become leaders in endocannabinoid system-based prescription medications and significantly improve the quality of patients' lives through development of safe and effective cannabinoid-derived therapeutics.