In a historic policy shift, the Justice Department has announced plans to reclassify a key specialty botanical, presenting a significant opportunity for Category V Biotech, Inc. (OTC: CATV). This decision aligns with the CATV mission to become the world's leading provider of pharmaceutical specialty botanical-based products and therapies through strategic acquisitions and organic growth.
Key Developments:
Justice Department's Historic Reclassification: On May 16th, the U.S. Justice Department proposed reclassifying a crucial specialty botanical from Schedule I to Schedule III. This change, supported by President Joe Biden and the Health and Human Services Department, acknowledges the botanical’s medical benefits and lower abuse potential. Attorney General Merrick Garland has approved the proposed rule, which will soon be published in the Federal Register. This reclassification groups the botanical with substances like ketamine and anabolic steroids, moving it away from its current classification alongside heroin and LSD.
Strategic Acquisition: CATV has signed a letter of intent to acquire 100% of Genetic Networks, Inc. https://geneticnetworks.com/. This acquisition, expected to conclude in the second quarter of 2024, marks the CATV expansion into the biotechnology sector. Genetic Networks' proprietary platform, GeneScape™, facilitates rapid and unbiased discovery of optimal drug compounds via whole-genome analysis. GeneScape™ can identify promising targets and compounds for specific diseases, expediting development timelines and reducing costs.
CATV’s Vision and Strategy:
Category V Biotech, Inc. (CATV) aims to build a fully integrated global specialty botanicals company, covering biotech research, cultivation, manufacturing, and retail. By leveraging strategic acquisitions like Genetic Networks and fostering organic growth, CATV is well-positioned to become the leading provider of pharmaceutical specialty botanical-based products and therapies.
Conclusion:
The Justice Department’s reclassification of a key specialty botanical as a Schedule III drug represents a monumental shift in U.S. drug policy. CATV supports this decision, which aligns with its goal to advance more rational and equitable drug policies. This reclassification not only acknowledges the botanical’s medical benefits but also opens new avenues for research and development in the pharmaceutical industry.
For more information on $CATV, visit catvbt.com & https://geneticnetworks.com/
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Media Contact
Company Name: Category V Biotech, Inc.
Contact Person: Michael Feldenkrais, CEO
Email: Send Email
Phone: +1 (786) 652-3200
Address:23100 SW 192nd Ave
City: Miami
State: Florida 33170
Country: United States
Website: catvbt.com
