IBO:CC - Universal Ibogaine Highlights 2022 Accomplishments
(TheNewswire)
Calgary, AB – TheNewswire - January 4, 2023 – Universal Ibogaine Inc.( TSXV:IBO ) (“ UI ” or the “ Company ”), a life sciences company with amission to transform the addiction treatment industry with medicalizedibogaine-centered care, is pleased to provide a year end summary of2022 accomplishments .
Nick Karos, Chief Executive Officer and board member ofUniversal Ibogaine stated “2022 was a busy year of behind the scenesactivity laying the foundations with Health Canada in preparation forthe planned clinical trial application and sourcing the relatedibogaine drug supply. We are finalizing discussions with severalpotential funding partners and intend on closing the second round ofour current convertible debt financing very shortly. 2023 will be apivotal year for our company, for our shareholders and for Canadianswho are actively seeking ibogaine treatment”.
2022 Highlights:
Advancing the Planned Clinical TrialApplication. UI has designatedsemi-synthesised Ibogaine HCL (ibogaine hydrochloride) for its initialclinical trial for the treatment of opioid use disorder utilizing theproprietary ibogaine treatment protocol which has now beenadministered an industry leading 4000 treatments without issue at theUI partner clinic Clear Sky Recovery SA de CV (“ClearSky) in Cancun,Mexico. UI has received positive initial support and feedback fromHealth Canada to date on its trial design.
Developing Drug Supply Relationships. While medical grade supplies of psilocybin andMDMA are becoming readily available for research, UI faced challengesin securing an economic supply of ibogaine for use in the plannedclinical trial.
Universal Ibogaine is finalizing terms for a supplyagreement, which will also make available the required drug masterfile that is a key component of the planned clinical trialapplication.
Developed Business Model andFinancial Forecast. The size of the opioidproblem and the nature of solution delivery indicated a business modelthat leveraged the existing network of detox and treatment centersacross the Canada into the USA and globally as approved. To scalemost rapidly, UI intends to utilize a licensing model where UI willsupply its medical grade ibogaine HCL along with its proven safetyprofile to licensed detox centers. UI will earn revenue from drugsales and from protocol licensing and will continue its R&D at itsflagship facility – the Kelburn Center for addiction and mentalhealth.
Major Overhaul of KelburnFacilities – A series of natural events causedthe closure of the Kelburn facility which allowed the team to completea major overhaul of both the physical facility and treatmentprogramming. The renovation will increase patient capacity andfacilitate ibogaine treatment on the completion of trials. Acomprehensive update of the addiction treatment program was completedas well, which will place Kelburn in a leading position globally,offering the best in proven evidence based programming as well as thelatest bespoke nuovo modalities. The Kelburn facility is looking tore-open Jan 15 and reach full capacity by early 2023.
Nick Karos, UI CEO indicated “We are in great shapegoing into 2023. All the pieces are in place to launch our clinicaltrial and grow our business. The opioid problem is only gettingworse, and the solution is more critical now than ever. It is clearthat Health Canada agrees, and we are moving forwardtogether.”
About UniversalIbogaine Inc.
UI is a life sciences company, with a mission totransform addiction treatment using medicalized ibogaine through aplanned Canadian clinical trial focused on opioid use disorder, andultimately to utilize that protocol globally through planned futurelicensing agreements. UIis concurrently developing a state of the art holistic addictiontreatment protocol at its Kelburn Recovery Centre that, which whenpaired with the planned ibogaine detox protocol, is intended torevolutionize the way we treat addiction and drastically improve thelives of individuals and families affected byaddiction.
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THISRELEASE.
CAUTIONARY STATEMENTREGARDING FORWARD-LOOKING STATEMENTS
?This news release may containforward-looking statements and information. Forward-lookinginformation is frequently characterized by words such ?as"plans", "expect", "project","intend", "will", "believe","anticipate", "estimate", "scheduled",??"potential", or other similar words, or statementsthat certain events or conditions "may", "should"or ??"could" occur. The forward-looking statements andinformation are based on certain key expectations ?and assumptionsmade by UI. Although UI believes that the expectations andassumptions on which the forward-?looking statements are based arereasonable, undue reliance should not be placed on theforward-?looking statements because UI can give no assurance thatthey will prove to be correct.
Since ?forward-looking statementsaddress future events and conditions, by their very nature theyinvolve ?inherent risks and uncertainties. Actual results coulddiffer materially from those currently anticipated ?due to a numberof factors and risks, which include, but are not limited to, risksthat required ?regulatory approvals are not obtained. The reader iscautioned that assumptions used in the ?preparation of suchinformation, although considered reasonable by UI at the time of?preparation, may prove to be incorrect and readers are cautionednot to place undue reliance on ?forward-looking information, whichspeaks only to conditions as of the date hereof. UI does not?undertake any obligation to release publicly any revisions toforward-looking information contained ?herein to reflect events orcircumstances that occur after the date hereof or to reflect theoccurrence ?of unanticipated events, except as may be required underapplicable securities laws. ?
For furtherinformation:
InvestorRelations: Dugan Selkirk,Investor Relations Manager
dugan.selkirk@universalibogaine.com
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