Vancouver, British Columbia--(Newsfile Corp. - August 10, 2022) - Telescope Innovations Corp. (CSE: TELI) ("Telescope" or the "Company"), a leading developer of advanced technologies and services for the global pharmaceutical and chemical industries, announces that it has completed a four-month feasibility project funded by Pfizer to explore the acceleration of pharmaceutical process development through the use of automation. To successfully complete this project, Telescope created a proof-of-concept robotic workflow leveraging its proprietary in-situ analytical technology and automation tools and examined how the proof-of-concept platform could evolve over the next decade. The envisioned application of the platform is to help accelerate the translation of newly identified chemistry, processes, and materials from initial discovery to scaled-up commercial deployment.
"Deploying our automation and analytical platforms to support the pharmaceutical industry is a key strategic aim for Telescope," said Jason Hein, CEO of Telescope. "We are excited for the potential of these tools to enable companies to achieve faster product discovery and development based on high-quality data."
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. A key area of application for these tools is the development of scalable manufacturing processes for mental health medicines in the under-utilized tryptamine class of compounds, including psychedelic therapeutics. Telescope also applies these toolsets to resolve inefficiencies in industrial process chemistry and manufacturing. Our aim is to bring modern chemical solutions to meet the most serious challenges in health and sustainability.
On behalf of the Board,
Telescope Innovations Corp.
Jason Hein, Chief Executive Officer
Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of the prospectus filed by the Company and available at www.sedar.com.
Forward-looking statements in this document include expectations surrounding the uses and viability of the intellectual property portfolio held by the Company, the ability of the Company to deploy its automation, in-situ analytical tools, and machine learning technology to address challenges in pharmaceutical research and development, and all other statements that are not statements of historical fact.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic, including the risk that the Company be deemed a non-essential business and asked to temporarily cease operations; general economic conditions; adverse industry events; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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