CANNABIS SCIENCE, INC. (OTCMKTS:CBIS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Effective November 16, 2017, Cannabis Science, Inc. (the “Company”), entered into a Research Collaboration Agreement (the “Agreement”) with Stellenbosch University (the “University”) a South African Higher Education Institution. The Agreement provides for a collaboration between the Company and the University to develop and investigate the use of Cannabinoids to treat chronic pelvic pain associated with pelvic inflammatory disease among women, chronic prostatitis among men, and potentially other chronic pain associated with other indications. Furthermore, the Company wishes to obtain from the University data and certain rights to inventions that are developed during research funded by the Company.
to the Agreement, the University has developed know-how and expertise in the treatment of chronic pain and comorbid disorders and desires to obtain funding and technical support from the Company to further such research. Chronic pelvic pain is common for both men and women in southern Africa, and in the absence of sufficient treatment options is associated with a serious treatment gap. The use of cannabinoids potentially fills this gap. This research will also form the basis of the development of our general pain management research program. The term of the Agreement is initially for one year. In consideration for the Agreement and performance of the initial Research, the Company shall pay the University $100,000 as seed funding for the initial ground work. Full clinical trial expansion plans will be built from the success of this initial work to be completed.
About CANNABIS SCIENCE, INC. (OTCMKTS:CBIS)
Cannabis Science, Inc. is engaged in medical marijuana research and development. The Company works on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce and commercialize phytocannabinoid-based pharmaceutical products. The Company is involved in the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance. The Company focuses on the development of governmentally approved pharmaceuticals, including CS-TATI1, CS-S/BCC-1 and neurological therapy under study or development. The Company’s subsidiaries include Cannabis Science BV and Cannabis Science International Holding BV.