BIAL Goes Global With New US Research Center and Acquisition of Promising Parkinson’s Disease Programs

  • BIAL Biotech to be based in Cambridge, Massachusetts and will be a Research Center of Excellence dedicated to genetically-defined Parkinson’s disease

  • LTI-291 clinical program and other research programs in Parkinson’s disease acquired from Lysosomal Therapeutics, Inc.

  • R&D team led by Peter Lansbury, professor of neurology at Harvard Medical School

  • Investment may add up to 130 million dollars depending on the accomplishment of downstream development, and several regulatory and commercial milestones

BIAL, a pharmaceutical company based in Portugal with locations across Europe and dedicated to R&D in CNS diseases, announced today that it has established a new affiliate in the United States of America, BIAL Biotech Investments Inc. (BIAL Biotech). This new research center focused on genetically-defined Parkinson’s disease is based in Cambridge, Massachusetts, a prominent biotech hub in the world.

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Simultaneously, BIAL announced that it has acquired worldwide rights of LTI-291 and all the Parkinson’s disease research programs of Lysosomal Therapeutics Inc. (LTI) and taken on the entire R&D team.

António Portela, executive president of BIAL, reveals: “Our entry into the US with the creation of BIAL Biotech and the acquisition of the promising programs from LTI, is a decisive step towards the fulfilment of our mission to contribute to improving the quality of life of people worldwide. The development of this new research center in the US, is a landmark of enormous relevance for us. We are investing in science and research, through our direct presence in one of the most important research hubs in the world and in one of the most promising areas of medicine.

This acquisition not only provides the company with a pipeline of new product candidates in Parkinson’s disease but also an experienced R&D team, led by Peter Lansbury, professor of neurology at Harvard Medical School and a recognized thought leader in the field of neurodegenerative diseases.

With this acquisition, BIAL is expanding its pipeline, namely with the integration of new compounds in neurodegeneration already in clinical development, specifically for Parkinson’s disease, where the pharmaceutical company already has a significant market position.

The executive president of BIAL also points out: “The compounds we’ve acquired are based on genetics, a new field of research for us. The lead asset, which now has the code name ‘BIA 28-6156/LTI-291’, has an innovative mechanism of action and presents the potential of being a first disease-modifying therapy for a genetic subset of Parkinson’s disease. It has successfully completed a Phase I trial program and should be ready to start Phase II studies in 2021. We´re progressing from symptomatic treatment to an intervention in the mechanisms of the disease, which is very exciting for BIAL.

“We are happy to be part of BIAL and take the lead on the growth story in the US,” says Kees Been, former CEO of LTI and now CEO of BIAL Biotech. “With the commitment and resources of BIAL we will be able to accelerate our novel

Schwazze, Formerly Operating as Medicine Man Technologies, Inc., Provides Update on Acquisition Strategy

DENVER–(BUSINESS WIRE)–Sep 30, 2020–

Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ) (“Schwazze ” or “the Company”), a leading vertically-integrated Colorado cannabis company, today provided an update on its acquisition strategy.

The Company announced the termination of previously named term sheet with MedPharm Holdings, a cannabis research and development operator, which expired today, September 30, 2020. As noted earlier this year, the Company had moved forward on numerous term sheets with Colorado cannabis operators but had completed limited due diligence at that time. After the rigorous review and vetting process of MedPharm, the Company was unable to reach a mutually beneficial agreement to acquire MedPharm.

Justin Dye, Chairman and Chief Executive Officer of Schwazze shared, “The decision to terminate the binding term sheet with MedPharm is the right step forward for Schwazze. We are committed to creating shareholder value and generating compelling investment returns and believe that by staying true to our core business strategy of building a vertically integrated platform, we will do just that. Our focus remains unchanged, as our intention is to bring together profitable cannabis operators while growing organically to create a robust, differentiated and most admired cannabis company.”

Schwazze reiterated its commitment to establishing a leading vertically integrated cannabis platform. To accomplish this, the Company has acquired Mesa Organics, a dispensary chain with four locations in Southern Colorado, Purplebee’s a leading extraction and manufacturing business and remains on track to acquire the 14 Colorado locations of Star Buds which includes 13 retail locations and a cultivation facility. The Company will continue to make decisions that uniquely position Schwazze to provide the most trusted products and experiences for consumers and the best value for shareholders. The Company remains in negotiations with the announced acquisitions Roots Rx and Canyon Cultivation.

For more information about Schwazze, please visit https://www.Schwazze.com/.

About Schwazze

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze (OTCQX: SHWZ) is executing its vision to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual