Ceapro Inc. Announces Increased Financial Contribution from National Research Council of Canada for Innovative PGX Technology Project

EDMONTON, Alberta, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Ceapro Inc.(TSX-V: CZO; OTCQX: CRPOF) (a??Ceaproa?? or the a??Companya??), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced that the National Research Council of Canada (NRC) has approved an amendment to Ceaproa??s project entitled, a??Positioning Canadian Innovation on a Global Stage Using Ceaproa??s Disruptive PGX Platform Technology,a?? announced on August 15, 2019. The amended contribution will now provide a non-reimbursable financial contribution up to $590,000 through the Industrial Research Assistance Program (IRAP).
a??We are pleased with the additional support from the NRC IRAP for this important project. While one of the key objectives for this project was to fine tune the PGX Demo Plant to optimize the impregnation process of bioactives involved in the production of several new chemical complexes targeting oral and dermal delivery systems, this enlarged project now includes an additional task related to the development of PGX yeast beta glucan (PGX-YBG) as an inhalable therapeutic for COVID-19 patients. More specifically, our team is looking at establishing the feedstock for mass production of PGX-YBG, optimizing the process for large scale industrial manufacturing of PGX-YBG and to modify the PGX Demo Plant to generate PGX-YBG for a human clinical trial,a?? commented Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro.About Pressurized Gas eXpanded Liquid Technology (PGX)Ceaproa??s patented Pressurized Gas eXpanded (PGX) technology is a unique and disruptive technology with several key advantages over conventional drying and purification technologies that can be used to process biopolymers into high-value, fine-structured, open-porous polymer structures and novel biocomposites. PGX is ideally suited for processing challenging high-molecular-weight, water-soluble biopolymers. It has the ability to make ultra-light, highly porous polymer structures on a continuous basis, which is not possible using today's conventional technologies. PGX was invented by Dr. Feral Temelli from the Department of Agricultural, Food & Nutritional Science of the University of Alberta (U of A) along with Dr. Bernhard Seifried, now Senior Director of Engineering Research and Technology at Ceapro. The license from U of A provides Ceapro with exclusive worldwide rights in all industrial applications
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