Manufacturer of Idrasil, the first standardized medical cannabis, launches after 14 years of research and development, takes aim at U.S. pharmaceutical industry and its opioid epidemic.
ANAHEIM, Calif., Sept. 17, 2024 /PRNewswire/ -- C3 Pharmaceuticals, Inc., a private biopharmaceutical company formed to leverage first-mover advantage and play a leadership role in the emerging pharmaceutical cannabinoid therapeutics health sector, is pleased to announce that it executed a tailored Share Subscription Agreement (SSA) with GEM Global Yield LLC SCS ("GGY") and is planning on listing on the Canadian Securities Exchange. The listing will offer investors the solution to the cannabis prescribing problem in America, which originated from a misunderstood prohibition in the 1940s.
Idrasil, the primary intellectual property held by C3 Pharmaceuticals, Inc., is a dry, anhydrous, scored tablet containing a standardized and consistent amount of naturally derived, concentrated cannabis extract. This blend is designed to help patients manage a variety of conditions while remaining sober and lucid. These conditions include chronic pain, ADD, Alzheimer's, cancer, sleep disorders, mental health issues, and withdrawal from opioid addiction. Idrasil will be manufactured in a pharmaceutical-grade facility with a process that is G.R.A.S, FDA-compliant, sterile, and manufactured under cGMP and ISO 9001 standards.
"I started helping patients in 2005 by providing safe access to cannabis and offering the prescribing community an alternative to deadly opioids. Fourteen years later, I am saddened to say that the global opioid crisis has only become worse, claiming an estimated 69,000 lives each year," says Steele Clarke Smith III, Chairman and CEO of C3 Pharmaceuticals, Inc. "Now we're finally on the verge of curbing the problem and providing people with a prescribable, non-addictive solution to their physical and mental ailments."
"Idrasil is expected to be a highly disruptive medical advancement in recent pharmaceutical history," Steele says. This is why there have been legal and bureaucratic obstacles to bringing it to market and securing insurance approvals. However, U.S. lawmakers are close to passing legislation that would allow veterans to be treated with much-needed prescription cannabis-based medications - a milestone that Steele believes is long past due, for Quality of Life (QoL).
"We are currently at a crucial point in the United States, both politically and culturally, regarding the growing acceptance of natural medicines, particularly therapeutic cannabinoids," Steele explains. "There are numerous clinical EndoCannabinoid Deficiencies that are among people of all ages in a population deficient in cannabinoids, which can easily be corrected by reintroducing cannabinoids to the human body." Idrasil achieves this through prescriptions provided by doctors.
The capital raised from the IPO, along with a commitment of CAD$135 million (approximately USD$100 million) from GGY, will be used to expand manufacturing operations and introduce Idrasil to the U.S. and then international markets. Additionally, it will strengthen the company's intellectual property portfolio in the pharmaceutical sector as a leader in nutraceuticals.
"Now is the perfect time to open C3 Pharmaceuticals, Inc. to the public capital markets and bring the global investment community into a prosperous new age where natural medicines are embraced and petrochemical-based drugs are recognized for what they truly are: poisons," Steele said.
For more information, visit www.c3pharmaceuticals.com.
About Idrasil and C3 Pharmaceuticals, Inc.
The mission of C3 Pharmaceuticals, Inc. is to manufacture the unique Intellectual Property for Idrasil, a major advancement in the standardization and administering of natural cannabinoids, in a tablet. Idrasil is a holistic alternative to addictive opiates and life-threatening narcotics, without euphoria. For more information on C3 Pharmaceuticals, Inc. and Idrasil, visit www.idrasilrx.com.
About GEM
Global Emerging Markets ("GEM") is a $3.4 billion, alternative investment group with offices in Paris, New York and Nassau, Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 580 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments. For more information: www.gemny.com.
CONTACT: Andrew King, [email protected]
SOURCE C3 International Inc.
