Chemistree Investee Company Immunoflex Adds Key Executive, Creates Scientific Advisory Board

Rhea-AI Summary

Chemistree Technology Inc. (CSE: CHM, CHM.wt; US OTCQB: CHMJF) announced that its investee, Immunoflex Therapeutics, appointed Dr. David MacDonald as a key executive and established a Scientific Advisory Board led by Dr. Vernon Oi. Dr. MacDonald brings over 30 years of experience in drug development, having previously directed R&D at MSI Methylation Sciences. The new advisory board includes prominent experts like Dr. Jian Han and Dr. Leonore A. Herzenberg, enhancing Immunoflex's research capabilities and potential for future innovations.

Positive

• Appointment of Dr. David MacDonald enhances leadership at Immunoflex.
• Creation of a Scientific Advisory Board strengthens R&D capabilities.
• New board members include renowned experts with significant industry experience.

Negative

• None.

VANCOUVER, BC, Sept. 28, 2020 /PRNewswire/ - Chemistree Technology Inc. (CSE: CHM) and (CSE: CHM.wt) (US OTCQB: CHMJF) (the "Company" or "Chemistree") is pleased to inform shareholders that Chemistree investee company Immunoflex Therapeutics ("ImmunoFlex") has announced the appointment of Dr David MacDonald to its executive team and established a Scientific Advisory Board to be headed by Dr. Vernon Oi.

Dr David MacDonald has an over 30-year record of achievement in drug development and leadership of biotech companies achieving important technical milestones for those businesses and meeting critical corporate objectives. Prior to ImmunoFlex, Dr MacDonald was at MSI Methylation Sciences Inc. a clinical-stage pharmaceutical company, leading the R&D efforts, focused on pharmaceutical product and clinical development. Dr MacDonald has also held leadership positions in a number of small and large pharma biotech companies during which he was accountable for a broad range of technical departments and stages of development covering basic research, IND-enabling studies, formulation, CMC, phase 1 and phase 2 clinical trials, intellectual property, and regulatory submissions and inspections. Dr MacDonald obtained his Ph.D. in Chemistry from the University of Alberta where his research was focused on enzymology.

Scientific Advisory Board

ImmunoFlex has also established a three-member scientific advisory, drawing on some of the most talented and experienced people in the bio-technology and immunology fields.

Dr. Vernon Oi, has been named Chair of the ImmunoFlex Scientific Advisory Board. Dr. Oi is a world-renowned Immunologist with over 200 peer reviewed publications and multiple patents. He received his bachelor's degree from Stanford University and doctoral degree from the Stanford University School of Medicine. In addition, he studied in the Department of Microbiology and Immunology at the University of California at Berkeley and the Medical Research Council and Agricultural Research Council in the UK before joining Stanford University's faculty in the Department of Genetics. Dr. Oi is an inventor on a key Stanford patent for functional antibodies, an invention used to produce drugs including Remicade (Johnson & Johnson), Synagis (MedImmune) and others. In 2019, functional antibody-based therapeutics generated over $150 billion in revenues globally.

Dr. Jian Han is a Hudson Alpha Institute for Biotechnology Faculty Investigator.  Dr. Han has more than 30 years of experience developing molecular diagnostic technologies and products. He is interested in developing integrated solutions for molecular differential diagnosis and developing a technology platform that allows multiplex molecular differential diagnoses to be carried out in a fashion that is high throughput, semi-quantitative, automatic, and in a closed system. He studies the immunorepertoire of different autoimmune diseases and cancers using multiplex PCR and high-throughput gene sequencing. As the director of the R10K project, Dr. Han leads a team that is sequencing 10,000 samples and studying biomarkers for 100 diseases. He earned his MD from ShuZhou Medical College in China and his PhD in clinical molecular genetics from the University of Alabama at Birmingham. 

Dr. Leonore (Lee) A. Herzenberg, is a Stanford Flow Cytometry Chair in Genetics, Stanford Professor of Genetics, and Stanford Professor of the Interdepartmental Program in Immunology. Dr. Herzenberg and her late husband Dr. Leonard (Len) A. Herzenberg made many seminal contributions to immunoglobulin heavy chain (IgH) genetics and to functional analyses and lineage studies of mouse and human B and T cells. Some of the Herzenbergs' "firsts" include the initial development of the Fluorescence Activated Cell Sorter (FACS), the development of the first monoclonal antibody reagents for FACS, and the continued development and improvement of computer support for the acquisition, analysis, display and storage of flow cytometry data. This technology is now being used to explore the recently developed humanized mouse model and to expand work conducted in other laboratories with human samples relevant to HIV and other diseases.

Chemistree President Karl Kottmeier commented, "These are great advancements for ImmunoFlex. Dr. MacDonald is a tremendously experienced scientist and a major addition to the ImmunoFlex management team. I am also very impressed with ImmunoFlex's ability to attract such experienced and highly regarded scientists to its new Scientific Advisory Board."

About ImmunoFlex™
At ImmunoFlex™ we share an interest in understanding the human immune system and how different compounds have the potential to strengthen, support, and enhance our body's natural surveillance and response system. Learn more at www.immunoflex.com

About Chemistree Technology Inc.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry.  The Company's corporate strategy is to acquire and develop vertically integrated cannabis assets and to invest in other cannabis-related opportunities, leveraging management's decades of expertise in the cannabis industry and corporate finance. For more information, visit www.Chemistree.ca.

Advisory
The Company wishes to inform shareholders that there are significant legal restrictions and regulations that govern the cannabis industry in both Canada and the United States.

Cannabis-related Practices or Activities are Illegal Under U.S. Federal Laws
The concepts of "medical cannabis" and "recreational cannabis" do not exist under U.S. federal law. The Federal Controlled Substances Act classifies "marihuana" as a Schedule I drug. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of safety for the use of the drug under medical supervision. As such, cannabis related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defence to any federal proceeding which may be brought against the Company. Enforcement of U.S. federal laws will be a significant risk to the business of the Company and any such proceedings brought against the Company may adversely affect the Company's operations and financial performance.

Further information regarding the legal status of cannabis related activities and associated risk factors, including, but not limited to, risk of enforcement actions, risks that third-party service providers, such as banking or financial institutions cease providing services to the Company, and the risk that Company may not be able to distribute profits, if any, from U.S. operations up to the Company, are included in the Prospectus, the Company's annual information form and other documents incorporated by reference therein and in the Company's Form 2A listing statement filed with the CSE and available under the Company's profile on SEDAR at www.sedar.com.

"Karl Kottmeier"
President 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", "budget", "scheduled" and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Company's reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

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SOURCE Chemistree Technology Inc.

FAQ

Who is Dr. David MacDonald and what is his role at Immunoflex?

Dr. David MacDonald has been appointed as a key executive at Immunoflex Therapeutics, bringing over 30 years of experience in drug development and leadership in biotech companies.

What is the significance of the new Scientific Advisory Board at Immunoflex?

The Scientific Advisory Board at Immunoflex, led by Dr. Vernon Oi, is expected to enhance research and development efforts by leveraging the expertise of its experienced members.

What expertise do the members of Immunoflex's Scientific Advisory Board bring?

The board comprises experts like Dr. Vernon Oi, Dr. Jian Han, and Dr. Leonore A. Herzenberg, who have extensive backgrounds in immunology and biotechnology, contributing to the company's innovative potential.