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Ceapro reported Q2 2021 sales of $4,409,000, a slight decline from $4,666,000 in Q2 2020. Year-to-date sales increased by 12% in USD, totaling $9,110,000 for the first half of 2021. Net profit was $676,000 for the quarter, down from $1,077,000 a year earlier. The company maintained production during COVID-19, ensuring employee safety. Ceapro continues to advance its R&D programs, including a Phase 1 clinical trial and collaborations with prominent institutions. As of June 30, 2021, it reported $9,303,000 in positive working capital.
Ceapro has announced a formal research collaboration with the Angiogenesis Foundation to study the in vivo bioactivity of its oat-derived products, specifically beta-glucan and avenanthramides. This partnership is based on encouraging in vitro results demonstrating the stimulation of vascular endothelial cells, key for wound healing. The studies aim to explore implications for conditions like COVID-19 that involve vascular damage. Ceapro intends to leverage this collaboration to advance its transition from a manufacturer to a life sciences company addressing inflammation and immune-based diseases, enhancing shareholder value.
Ceapro Inc. (OTCQX: CRPOF) has announced a Phase 1 clinical trial for its flagship product, avenanthramide, in collaboration with the Montreal Heart Institute (MHI). This trial will assess the safety and pharmacokinetics of a pure pharmaceutical-grade formulation. Jean-Claude Tardif, a leading cardiovascular expert, will oversee the study. The trial is part of an ongoing partnership with MHI, aiming to expand Ceapro's business model from contract manufacturing to a full-fledged life sciences company. The results could have significant implications for the management of cardiovascular diseases.
Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) conducted its Annual General and Special Meeting of Shareholders on May 26, 2021, where all proposed directors were elected for a one-year term. Key nominees included Glenn Rourke, Donald J. Oborowsky, John Zupancic, Gilles Gagnon, Dr. William Li, and Dr. Ulrich Kosciessa, with varying approval percentages from 53.35% to 95.01%. The shareholders also approved the appointment of auditors and the re-approval of the Company’s Stock Option Plan. Ceapro focuses on developing active ingredients for healthcare and cosmetics through innovative extraction technology.
Ceapro Inc. has completed patient enrollment for its BetAvena study, a clinical evaluation of beta glucan as a treatment for hyperlipidemia, conducted in partnership with the Montreal Heart Institute. The study will assess beta glucan's efficacy alongside or without statins in approximately 264 participants over a 12-week period. The primary outcome is the change in LDL-cholesterol levels. Topline data is expected in Q4 2021, marking a significant milestone for the company as it aims to provide a nutraceutical alternative for cholesterol management.
Ceapro Inc. reported a 10% increase in sales for Q1 2021, totaling $4.7 million compared to $4.3 million in Q1 2020. Despite challenges posed by the COVID-19 pandemic, the company continued to prioritize employee safety while advancing key projects, including a clinical trial for oat beta-glucan as a cholesterol reducer with over 200 patients enrolled. However, net profit decreased to $515,000 from $1.1 million year-over-year. The company raised R&D investments to $817,000, reflecting a focus on developing innovative bio-pharmaceutical solutions.
Ceapro reported outstanding operational highlights for 2020, achieving total sales of $15.12 million, a 17% increase from 2019, with net profits reaching $1.86 million. The company maintained production during the COVID-19 pandemic, ensuring employee safety. Significant focus was given to R&D, advancing beta glucan and PGX technology for potential pharmaceuticals. Cash generated from operations surged to $4.45 million. The company also secured DTC eligibility for shares, enhancing market visibility. Ceapro’s growth strategy aims to evolve from contract manufacturing to biopharmaceutical development.
Ceapro Inc. announced the completion of a significant research project with the University of Alberta, enhancing its PGX Technology for developing high-value bioactive ingredients. The project, funded by NSERC, aimed to improve the processing of polysaccharides, proteins, and bioactives. New PGX-based products will target personal care, functional food, and pharmaceuticals. Ceapro's research has generated innovative delivery systems, potentially leading to increased bioavailability of bioactives. Findings will be presented at the 18th European Meeting on Supercritical Fluids.
Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF), a Canadian biotechnology company specializing in active ingredients for healthcare and cosmetics, announced its participation in the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. CEO Gilles Gagnon will present and engage in one-on-one meetings with investors. A video webcast of the presentation will be available on-demand starting March 9, 2021, at 7:00 AM ET, accessible for 90 days on the company's website.