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.
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow’s standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas - Ivy Lu
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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