EXMceuticals Inc. Announces Receipt of Landmark COVID-19 Research Grant and Acceleration of Portuguese Activities

VANCOUVER, British Columbia, Sept. 08, 2020 (GLOBE NEWSWIRE) -- EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2), (the "Company" or "EXM"), an emerging bio-sciences company specializing in the production of unique cannabinoid formulations, is pleased to announce its success in securing COVID-19 R&D-focused grant from the European Union and the Portuguese Government, detailing a landmark event for the Company.

A Consortium led by EXMceuticals Portugal Lda, operating under the Project name "BioBlockCOVID" and consisting of EXMceuticals Portugal Lda, Cosmetek Lda, and the Universidade de Coimbra has been awarded EUR 302.000 by the European Regional Development Fund and the Portuguese Government to study further and develop disinfectants to combat SARScoV-2, the virus that causes COVID-19.

The BioBlockCOVID project aims to create functional, natural and innovative biocide formulations that will specifically target and attack the molecules that make up COVID-19. The research will focus on the virucidal action of naturally occurring bioactive compounds from the cannabis plant, in addition to others. The funding award comes from the competitive tender opened by the European Regional Development Fund, which finances two Portuguese funds named Programa Operacional Competitividade e Internacionalização and Programa Operacional Regional de Lisboa, to support Companies and R&D entities based in Portugal. The grant aims to create an incentive system for R&D activities and investment in testing and optimization infrastructure of relevant products in combating COVID-19. All required efficacy, performance and toxicity assessments will be tested in a laboratory environment, all with a view to the planned industrial upscaling.

Project lead, Susana Santos, Chief Innovation Officer at EXMceuticals Portugal, commented: "We are very confident that the concepts outlined in BioBlockCovid will result in new practical and state of the art solutions to help control the pandemic. Alongside our partners working in therapies and vaccines, we intend to contribute with practical solutions to this very serious global problem. EXM's overall mission is to combine safe, natural and bioactive materials with advanced and sustainable technologies to create products with significant health and wellness benefits."