Pharmacyte Biotech Inc (NASDAQ: PMCB) gave an update on its actions to remove the hold on treatment for inoperable, locally advanced pancreatic cancer from the U.S Food and Drug Administration (FDA).

The FDA asked for more information before it could give approval 

After Pharmacyte an Investigational New Drug (IND), the FDA asked it to hand in more information and studies before getting approval. Pharmacyte has now finished other assays and studies on its treatment. The company is completing its findings before presenting them to the FDA.

According to Kenneth L. Waggoner, the CEO of Pharmacyte, the company understands why the FDA needs more information as it uses live encapsulation which is a relatively new treatment. He adds that the company believes the FDA will approve their IND from the assays and additional studies.

Waggoner reminded people that the company had updated them on the clinical hold given by the FDA while they sought additional data in June. Fortunately, the company is ready to show the regulator its new IND package.

Because the company hopes that this submission will be fruitful, it has partnered with Austrianova and Contract Research Organizations (CRO). Moreover, it has added more scientists and regulatory experts.

Pharmacyte experienced delays while conducting its studies

Waggoner states that Pharmacyte faces supply chain disruptions and delayed material deliveries due to COVID like all other companies worldwide. As a result, there have been days in completing its assays and studies.

The delays have also caused disruptions as the company manufactures encapsulated live cells and empty capsules needed for the assays and studies. Furthermore, the labs carrying out the assays and studies have had to wait a long time to receive the products they need for the assays and studies.

Fortunately, Pharmacyte managed to conduct several tests. One test evaluated the product stability of CypCaps, the drug they were testing. The researchers tested its stability after storing it at -80° for 3,6,9,13 and 18 months.

Pharmacyte also set out to carry out biocompatibility studies. They managed to complete six after designing eight studies. The company is still doing the remaining two. Another study Pharmacyte is conducting is the pig study, which addresses the biocompatibility and long-term effects of implanting CypCaps.

American Battery Metals Corp (OTCMKTS: ABML) bought a 13.8-acre property in the most significant industrial park worldwide – Tahoe Reno Industrial Center, situated at Storey County, NV. 

Utilizes advanced extraction technologies

It is an ideal location to establish the battery recycling plant of American Battery Metals. The company would use sophisticated extraction technologies to provide battery metals satisfying the high domestic demand. It is eco friendly.

It does not release toxins into the air besides preventing water pollution. Doug Cole, CEO of American Battery Metals, said the purchase of this property is an essential milestone in its quest to build a battery recycling pilot plant. 

The company has a talented team ready to design and manage storage and plant construction activities efficiently and cost-effectively.

After the city of Fernley approves the core and shell building permits and final mass grading permits, the company would commence site grading operations. 

Receives the nod for lithium-ion battery recycling plant

The Fernley City Council for CUP (Conditional Use Permit) approved the upcoming lithium-ion battery recycling plant on June 17, 2021. 

Earlier this month, City of FPC (Fernley Planning Commission) granted Conditional Use Permit. As a result, the company now inched closer to permitting and constructing a lithium-ion battery recycling pilot plant in Nevada’s Fernley.

Cole said the CUP by the Fernley City Council allows the company to construct its lithium battery recycling pilot plant. 

The pilot plant expects to boost the economy in Fernley and generate employment. It also ensures a secure supply of battery metals for domestic needs. 

The Fernley City Council’s CUP also confirms that the American Battery Metals pilot plant would satisfy the City’s Comprehensive Master Plan obligations to protect the general welfare, safety, and public health. 

Supports transition to electric mobility

On May 25, 2021, American Battery Metals entered a strategic alliance to establish centralized service operations to collect and recycle electric vehicle batteries. 

The new venture at Cicle EV ChargeParks satisfies high demand for battery metals. It also facilitates the transition of truck fleets and global automakers into electric mobility. In addition, the new venture solves renewable energy supply chain issues and facilitates the fastest-growing EV ecosystem. 

The partnership between Cicle ChargeParks and American Battery Metals creates a highly advanced and practical renewable energy technology solution.

Puration Inc (OTCMKTS:PURA) reached an agreement with PAO Group (OTCMKTS:PAOG) to develop cannabis-centric applications. As per the terms of the pact, PAO will distribute its common stock to the investors of Puration.

Puration shareholders will receive one share of PAO for each of their shares in Puration. FINRA is currently reviewing the share distribution to Puration shareholders. Both PAO and Puration are jointly working on the Farmersville brands project of Puration.

Hemp as an eco-friendly substitute

Puration is constructing a facility on a 70-acre plot with PAO’s help with a target to demonstratable and interactive education to highlight the benefits of hemp.  The company intends to show hemp as an eco-friendly alternative to the prevailing industrial services and products that damages the environment.

Hemp provides an environmentally sustainable substitute for lumber, textile, and plastic material sources. The demand for the textile industry across the world is valued at over $1 trillion.

The demand for wholesale lumber in the US alone is valued at $100 billion. Also, the overseas demand for plastic is more than $500 million. According to Puration, the industry has not fully understood the potential of hemp. As industries turn to eco-friendly alternatives, Puration sees an opportunity for hemp-based materials to safeguard the environment. Therefore, the company will utilize the Farmersville brand project to achieve its target. Puration intends to develop a cooperative network of hemp processors and producers to market services and products under the Farmersville Hemp brand.

The market for hemp-based products

Farmersville brand project, which stands on a 70-acre facility, will promote hemp-based product growth. The demand for hemp-derived products expects to surge to $15 billion by the year 2027. PAO also cooperates with Puration for managing indoor hemp growing facilities to produce pharmaceutical-grade products. The hemp brand strategy of Puration will benefit from the overall environmental initiative of Biden.

PAO to generate revenues from CBD

This year, PAO will generate revenues from the expansion of cannabidiol nutraceuticals. In the presentation, PAO provided details of its engagement with North American Cannabis Holdings, Inc, Puration, and Alkme Holdings, Inc.