ALGAE DYNAMICS CORP (OTCQB: ADYNF) (the "Company"), is currently engaged in the development of unique health products and pharmaceuticals that utilize hemp, cannabis and algae oils. This is an extension of our plan to commercialize our proprietary BioSilo(R) algae cultivation system for the high volume, low cost production of pure contaminant-free algae biomass which is high in Omega-3 fatty acids. We have engaged two Canadian universities to provide research into the use of extracts from cannabis oil, which we plan to use to develop products that combine the significant health benefits of Omega-3s derived from algae oil and extracts from cannabis oil. Our research is focusing 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.
Cannabis by itself has long been used for medical purposes and in recent decades has gained significant traction in becoming a common and preferred treatment for specific ailments. Cannabis is one of the fastest growing industries in North America.
The Company is currently undertaking a program with the University of Waterloo to perform research and product development on cannabis oil and its constituents in the context of the development and treatment of cancers of the colorectum, pancreas, breast and prostate. The Sponsored Research Agreement is entitled "Studies on botanical oils from Algae Dynamics".
In addition, a second program has been initiated with Western University to perform research and product development on cannabis oil and its constituents in the context of depression, post-traumatic stress disorder, anxiety and schizophrenia. The Sponsored Research Agreement is entitled "Cannabinoid Extracts for the Development of Novel Mental Health Pharmaceuticals".
The Company's new strategic initiative will also explore compounds extracted from other botanicals, most notably cannabis, and to seek product development and formulation opportunities that combine the benefits of algae and cannabis oils. The above two programs bring Algae Dynamics total university research contributions to $1. 6 million Our Vision is to be a global leader in the formulation and development of health products from Cannabis derivatives, algae oils, and other botanical oils for health and wellbeing.
The Company's core product development strategy has been the production of high volume specific algae species and extraction of Essential Fatty Acids (EFAs) which is the foundation of the endocannabinoid system (ECS). The ECS is a group of endogenous cannabinoid receptors located in the mammalian brain and throughout the central and peripheral nervous systems, consisting of neuromodulatory lipids and their receptors. The extracted algae Omega 3 oil with high concentrations of DHA is used as a health supplement product. In light of the potential synergies, the Company has developed its strategy which is aimed at developing new products and formulations that combine the health benefits of algae and cannabis oils.
The Company is continuing to seek opportunities to partner with or take ownership in existing Access to Cannabis for Medical Purposes Regulations (ACMPR) pre-licensed/licensed producers to allow for access to the marketplace.
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