CODEBASE VENTURES INC. UPDATES ADVANCEMENT ON HYDROXYCHLOROQUINE STRATEGY

May 11, 2020 6:00 AM

COMPANY HAS SECURED RIGHTS TO INNOVATIVE TRANSDERMAL DELIVERY FOR HYDROXYCHLOROQUINE WHICH IS ANTICIPATED TO REDUCE SIDE EFFECTS AND IMPROVE OUTCOMES

VANCOUVER, BC, CANADA (May 11, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF) an investment company, wishes to provide an update on its strategy toward the development of a transdermal delivery system for hydroxychloroquine.

Hydroxychloroquine (HCQ) and chloroquine (CQ), are the subjects to multiple studies globally as to the drug’s effectiveness in treating Covid-19. The drug has long standing FDA approved usages for lupus, rheumatoid arthritis and malaria. Overall, there are 29 registered clinical trials focusing on HCQ and/or CQ as a treatment for Covid-19, with 7 trials completed. “Five of seven completed clinical trials have shown favorable outcomes for patients using CQ or HCQ and two of the seven have shown no change compared to control. However, all 7 trials carried varying degrees of bias and poor study design. There is currently not enough data available to support the routine use of HCQ and CQ as therapies for COVID-19.”1

Results of trials underway are expected soon, including a randomized controlled trial being conducted by NYU Langone and the University of Washington, which has been designed to determine whether hydroxychloroquine is more effective than a placebo in preventing Covid-19.2

Codebase recently acquired 49% in a private pharmaceutical company which has recently filed for two US provisional patents for transdermal delivery and oral mucosal delivery of chloroquine and hydroxychloroquine. The private pharmaceutical company has a lab services agreement with Reformulation Research Laboratories Inc. (RRL), which has led the development of the patent applications and the underlying technology.

As previously announced, the Company is not making any express or implied claims that HCQ or CQ has any effect in the prevention or treatment of COVID-19 at this time.  Developing a transdermal or oral mucosal delivery of these drugs should lead to the lessening of the dosage required and the common side effects felt by current users of these drugs for their on-label treatment for lupus, rheumatoid arthritis and malaria.

1 https://pubmed.ncbi.nlm.nih.gov/32359203/  

2 https://www.cnbc.com/2020/04/15/coronavirus-us-clinical-trials-of-hydroxychloroquine-hit-warp-speed.html

About Codebase Ventures Inc.

Codebase Ventures Inc. is a small, hands-on team of financial and technology experts who invest early in great ideas. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms and protocols, not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.

For further information, please contact:

Brian Keane, Director

Investor Relations

Telephone:  1 (778) 806-5150 - TOLL FREE (877) 806-CODE (2633)

E-mail: IR@codebase.ventures

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