Codebase Investee has secured rights to develop a Transdermal Hydroxychloroquine Drug Delivery System to offer controlled, prescribed dosage mitigating side effects
VANCOUVER, BC, CANADA (April 21st, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), an investment company, is pleased to expand upon its announcement of April 16th regarding its agreement to acquire a 49% interest in an arms-length private company with the rights to a provisional patent for a transdermal drug delivery system for hydroxychloroquine (HCQ) to treat malaria, lupus and rheumatoid arthritis.
Hydroxychloroquine has been heavily publicized in relation to its potential treatment and prevention role with Covid-19, leading to instances of self medication, where “hydroxychloroquine can have dangerous side-effects if the dose is not carefully controlled.”1,2
The hydroxychloroquine transdermal drug delivery system to be developed by an investee company of Codebase is designed to control dosage and to deliver the prescribed amount of the drug over the prescribed time period without inconsistencies inherent in oral tablet delivery - the premise being that transdermal delivery can reduce and/or eliminate side effects associated with uncontrolled dosing.
Reformulation Research Laboratories Inc. (RRL), Code’s contract lab partners in the venture, have provided that transdermal delivery of hydroxychloroquine can result in improved well being for patients by providing constant drug levels, fewer side effects overall, highlighted by the fact unlike oral tablets, transdermal delivery bypasses the gastrointestinal tract which can eliminate side effects from that route such as nausea. In addition, limitations on bioavailability and metabolism of the active ingredient when taken orally require dosages to be higher than what is required for therapeutic results. Transdermal delivery is more efficient, and with greater bioavailability and therefore lower amounts of the active ingredient are required, which also can improve outcomes for patients.
The Company’s scientific expert has read and approved the scientific disclosures contained in the press release. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 at this time. RRL is not making any express or implied claims that any of its products have the ability to deliver hydroxychloroquine through transdermal at this time.
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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