PAO Group has previewed its next acquisition after closing the acquisition of a cannabis biopharmaceutical asset to treat Chronic Obstructive Pulmonary Disease (COPD) and a cannabis cultivation operation developing a proprietary cannabis cultivar.
The COPD treatment, RespRx, is derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled "Method and Apparatus for Processing Herbaceous Plant Materials Including the Cannabis Plant."
PAOG anticipates soon entering into a Contract Research Organization (CRO) agreement in conjunction with advancing an Investigational New Drug Application (IND) to ultimately achieve Food and Drug Administration (FDA) approval for RespRx as a COPD treatment.
Based on positive results from an informal trial of RexpRX with 25 COVID-19 patients, PAOG also plans to make Coronavirus Treatment Acceleration Program (CTAP) application after entering into a CRO agreement.
PAOG has a working agreement to close the acquisition of the underlying extraction patent in conjunction with executing the CRO agreement.