Innovative biotech company Algae Dynamics Corp. (OTCQB: ADYNF) this morning said the company, together with the University of Western Ontario, received project funding in the form of a C$400,000 grant from Mitacs, a Canadian not-for-profit organization. The company previously announced a research agreement with the University of Western Ontario to examine the role of specific phytochemicals in marijuana for the development of novel mental health therapies. The grant will support the collaborative project to identify and produce specific cannabinoid oil formulations with ratios that selectively target symptoms associated with these specific diseases. “This grant provides tremendous support to our sponsored research program with the University of Western Ontario and will accelerate development of nutraceutical product formulations, which is our core mission,” Algae Dynamics chairman and president Paul Ramsay stated in the news release.
To view the full press release, visit http://cnw.fm/KJ6sY
About Algae Dynamics Corp.
Algae Dynamics Corp. is engaged in the development of unique health products and pharmaceuticals that utilize hemp, cannabis and algae oils. The company has engaged two Canadian universities to provide research into the use of extracts from cannabis oil, which it plans to use to develop products that combine the significant health benefits of Omega-3s derived from algae oil and extracts from cannabis oil. The company’s research is focused on the use of cannabis oil in the context of cancer, and the use of cannabis derivatives for the development of novel pharmacotherapies for mental health. For more information, visit www.AlgaeDynamics.com.
More from CannabisNewsBreaks
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
For more information please visit https://www.CannabisNewsWire.com