Innovative biotech company Algae Dynamics Corp. (OTCQB: ADYNF) this morning said the company, together with the University of Western Ontario, received project funding in the form of a C$400,000 grant from Mitacs, a Canadian not-for-profit organization. The company previously announced a research agreement with the University of Western Ontario to examine the role of specific phytochemicals in marijuana for the development of novel mental health therapies. The grant will support the collaborative project to identify and produce specific cannabinoid oil formulations with ratios that selectively target symptoms associated with these specific diseases. “This grant provides tremendous support to our sponsored research program with the University of Western Ontario and will accelerate development of nutraceutical product formulations, which is our core mission,” Algae Dynamics chairman and president Paul Ramsay stated in the news release.
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Algae Dynamics Corp. (ADYNF) Receives Grant from Mitacs for Cannabis Research Collaboration
