Skye Bioscience inc (OTCQB:SKYE) said it has signed new research agreements with the University of Eastern Piedmont (UPO) in Italy and the Spanish Research Council (CSIC), focusing on developing an extensive library of novel molecules designed to modulate the endocannabinoid system.
The company said the initial focus will be on ophthalmic disorders, adding that the new collaborations are intended to help build and screen a library of up to 100 molecules in the first year, using a proprietary screening platform developed by Skye to analyze key molecular targets related to a range of disease pathways.
"Fundamental to Skye's strategy for differentiation is developing a pipeline of molecules that retain the potential therapeutic benefit of cannabinoids but are chemically distinct, patentable, and synthetically manufactured. Importantly, our aim is to discover and develop these molecules into validated clinical candidates that can expand Skye's future clinical pipeline or be licensed to potential pharmaceutical partners," Tu Diep, chief development officer of Skye said in a statement.
"Partnering with academic centers of excellence in cannabinoid research is a key pillar of this pharmaceutical development strategy. These scientific collaborations with leading research institutes, and with Drs Caprioglio and Jagerovic and their established cannabinoid research initiatives, will add new technology as well as new thinking and capabilities to our discovery efforts," he added.
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The contract research agreement with UPO focuses on the synthesis of novel derivatives of both major and minor phytocannabinoids. Skye will sponsor the research and will solely own all intellectual property developed under the agreement.
Heading the research is Dr Diego Caprioglio, professor in the Department of Pharmaceutical Sciences' Novara Natural Product Chemistry Group at UPO. Dr Caprioglio has studied and developed novel potent molecules capable of interacting with the endocannabinoid system, with research ranging from non-classical cannabinoids such as beta-caryophyllene to major and minor phytocannabinoids. He has authored over 30 peer-reviewed publications and is an inventor on a number of patents related to the chemistry and bioactivity of natural products.
Skye said the relationship with CSIC is two-pronged. First, it is a material transfer agreement with an option for an exclusive license of existing molecules targeting major cannabinoid receptors as well as other receptors known to play a role in ECS signaling. The second is a contract research agreement in which Skye is sponsoring the development of novel small molecule compounds targeting cannabinoid and other G protein-coupled receptors related to the ECS. Skye will retain all intellectual property developed under the agreement.
Heading this project is Dr Nadine Jagerovic at The Medicinal Chemistry Institute (IQM), in Madrid, Spain, a division of the Spanish Research Council focused on the discovery and optimization of bioactive molecules for the treatment, characterization, and diagnosis of different diseases. Over the last 15 years, her scientific interest has been focused on the discovery of modulators of G protein-coupled receptors related to the ECS. Her current research is concerned with the endogenous cannabinoid and opioid systems.
Skye launched its Cannabinoid Pharmaceutical Innovation Program in October 2021 to expand its cannabinoid-based science and cutting-edge research that can be commercialized through new and existing technologies.
"We launched our Cannabinoid Pharmaceutical Innovation Program with the intent to form a strong collaborative network of research knowledge and effort and are pleased to build on our core agreement with VivaCell Biotechnology Espana and Dr Eduardo Munoz," concluded Punit Dhillon, CEO and chair of Skye. "As we continue with our priority focus of transitioning into Phase 1 with our lead drug candidate, SBI-100 Ophthalmic Emulsion, these new steps strengthen our research to more broadly address the many challenges in ophthalmology treatment."
Skye Bioscience is a pharmaceutical company unlocking the potential of cannabinoids through the development of its proprietary cannabinoid derivatives to treat diseases with significant unmet needs.
Contact the author at jon.hopkins@proactiveinvestors.com