GlobeNewswire•April 03, 2018
OXNARD, Calif., April 03, 2018 (GLOBE NEWSWIRE) — CURE Pharmaceutical (CURR), an innovative drug delivery company, today reported the company’s Q1 2018 accomplishments. The company strengthened its leadership team with biopharmaceutical expertise, secured additional financing, and boosted nutraceutical product distribution, while advancing towards the launch of its first pharmaceutical CUREfilm™ product.
“We see solid growth this quarter that offers a strong jumping off point for the year ahead,” said Rob Davidson, CEO CURE Pharmaceutical. “We are already seeing benefits from the additional operational and manufacturing talent that has streamlined manufacturing to support growth in production. Each step is vital to our company’s growth to make medications easier to take, more efficient, and with fewer side effects.”
In the first quarter of 2018, CURE Pharmaceutical has reported developments in the following key areas:
Financing: Dr. Gene Salkind was named to CURE Pharmaceutical’s Advisory Board and invested $1 million in the company. Additionally, Alexander Capital raised a $1 million bridge financing transaction for working capital to expand production capabilities and accelerate product development.
Three Strategic Hires: The company bolstered its leadership team with the addition of Jessica Rousset as Chief Operating Officer, Dr. Vered Gigi as its VP of Business Development and Strategy, and former Amgen executive, Steven Ruhl as the VP of Manufacturing.
Nutraceutical Sleep Demand Increase: The company grew product demand this quarter, including two new purchase orders worth more than $500,000 in the nutraceutical sleep category. Due to leadership additions and improvements in manufacturing this quarter, the company has increased its shipments by more than 300 percent over the average quarterly shipments.
Advanced ED CUREfilm product development: The company has advanced its erectile dysfunction (ED) CUREfilm product through manufacturing validation. CURE Pharmaceutical anticipates launching this product in Asia in Q2 2019. The global ED drugs market is expected to reach USD 3.2 billion by 2022, according to a report by Grand View Research Inc.
Research: The first year of sponsored research at Israel’s Technion Institute of Technology has concluded. Specific cannabis extracts and extraction methods that result in tumor cell death in vitro have been identified, demonstrating that specific combinations of actives in the cannabis plant are responsible for the observed therapeutic effects, and that those therapeutic effects are specific to the type of cancer.
About CURE Pharmaceutical
CURE Pharmaceutical is a vertically integrated drug delivery and development company committed to improving drug efficacy, safety and the patient experience through its proprietary drug dosage forms and delivery systems. CURE has a full-service cGMP manufacturing facility and is a pioneering developer and manufacturer of a patented and proprietary delivery system (CUREfilm™), one of the most advanced oral thin film on the market today. CURE is developing an array of products in cutting-edge delivery platforms and partners with biotech and pharmaceutical companies. CURE has positioned itself to advance numerous therapeutic categories, including the pharmaceutical cannabis sector with partnerships in the U.S., Canada, Israel and Germany, among other markets. The company’s mission is to improve people’s lives by redefining how medicines are delivered and experienced.
For more information about CURE Pharmaceutical, please visit its website at www.curepharmaceutical.com.
This press release contains forward-looking statements, which are subject to risks and uncertainties. All statements, other than statements of fact, including those statements with respect to the Company’s business development, are forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
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