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Innovation1 Biotech (OTCQB: IVBT) announced the appointment of Frederick E. Pierce, II, to its Board of Directors. Mr. Pierce brings over 20 years of biotech experience, previously serving as CEO of Decoy Therapeutics and holding key roles in various biotech firms. His expertise in capital attraction and strategic alliances is expected to enhance the company's growth. Innovation1 Biotech specializes in modified Schedule 1 molecules and has a diverse clinical portfolio addressing PTSD, addiction, and other conditions. The company aims to develop innovative therapies for unmet medical needs.
Innovation1 Biotech (OTCQB: IVBT) has filed a provisional patent application for its innovative combination therapy targeting addiction. This therapy aims to 'rewire' neural networks, suppressing cravings and withdrawal symptoms for substances like opiates, alcohol, and nicotine. The therapy uniquely combines a prodrug of tetrahydrocannabivarin (THCV) and a synthetic ibogaine analog, 18-MAC, affecting the alpha3beta4 nicotinic acetylcholine receptor. This novel approach may provide a more effective treatment for addiction, with other products in the pipeline addressing various medical needs.
Innovation1 Biotech (OTCQB: IVBT) has appointed Andrew L. Salzman, M.D., the company’s Chief Science Officer, to its Board of Directors. Dr. Salzman brings over 30 years of experience in biomedical drug discovery, holding 60 patents and 175 peer-reviewed publications. His NIH funding exceeds $160 million. The company focuses on transforming botanical Schedule 1 molecules into synthetic drugs with clinical applications such as treating PTSD, addiction, and pediatric epilepsy. Dr. Salzman's leadership is anticipated to bolster the company's innovative therapeutic approaches.
Innovation1 Biotech Inc. (OTCQB: IVBT) announced a corporate name change from Gridiron BioNutrients, Inc. to align with its focus on clinical development of modified Schedule 1 molecules. Effective April 4, 2022, its ticker symbol changed to IVBT. This follows the acquisition of ST Biosciences' assets, including Mioxal®, a nutraceutical approved for sale in Europe, which targets fibromyalgia and chronic fatigue syndrome. The company aims to lead in psychedelic and cannabinoid innovations, boasting five proprietary preclinical drugs addressing various medical conditions.
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