Alberta
Alberta based Atlas BiotechnologiesTM invests in leading Oncology Biotech research firm, Flavocure.
Alberta based Atlas BiotechnologiesTM invests in leading Oncology Biotech research firm, Flavocure.
November 06, 2018- Edmonton, Alberta- ?Atlas Biotechnologies Inc. is pleased to announce a 20% investment in Flavocure Biotech, which has an impressive pipeline of oncology research. Flavocure has a patent pending on two therapeutic molecules, which use cannabis flavonoid derivatives in the treatment of three aggressive forms of cancer: AML (Acute Myeloid Leukemia), pancreatic, and glioblastoma (brain) cancer.
“Flavocure is an excellent fit for Atlas Biotechnologies. Our business philosophy is built around curing disease and illness using cannabis derivatives. Flavocure’s FDA orphan drug designation for the treatment of Acute Myeloid Leukemia, combined with their attractive oncology pipeline, made them an obvious choice for collaboration. We intend to jointly develop specialized cannabis cultivars to further unlock the potential of targeted flavonoids in medical research”, said Sheldon Croome, Atlas Biotechnologies CEO.
Flavocure is based in Maryland, USA and collaborates with some of the world’s most prestigious cancer research institutions. The United States Food and Drug Administration (FDA) has approved one of Flavocure’s two proposed therapeutics, Cresorol, with an orphan-drug designation.
Dr. Henry Lowe, an industry pioneer of cannabis phytopharmaceuticals and Flavocure’s founder and Executive Chairman, added, “Our early success in finding cannabis derived molecules for new therapeutic cancer discoveries attracted the interest of a great partner in Atlas. We are very much looking forward to collaborating with them on our genetics program and other drug research programs in the field.”
As part of the integral future collaboration, Atlas will hold a seat on Flavocure’s initial 7-member Board of Directors. Jeffrey R. Gossain, P.Eng, VP of Operations and one of Atlas’ founding Directors will aid in the development of the operational and corporate structure at Flavocure.
Atlas plans to develop a breeding program dedicated to isolating additional molecules in the flavonoid spectrum and identifying further cannabinoids for potential research and supply for future drug commercialization.
About Atlas Biotechnologies Inc. and Atlas Growers Ltd.
Atlas is based in Edmonton, Alberta, Canada and its wholly owned subsidiary, Atlas Growers Ltd., is federally licensed for Cultivation and Production of medical cannabis products. Phase one of Atlas’ purpose-built, 38,000 square foot laboratory has the capacity to produce over 5,000 kg of dried cannabis annually as well as refined cannabis into isolated concentrates in mass capacity. Atlas Growers owns a 160-acre site that could allow for significant future expansion of cultivation capacity in Alberta and has a development permit in place for up to 1,000,000 square feet of additional construction. Atlas also owns 50% of Coastline Biotechnologies, which is a late stage applicant with Health Canada. Coastline anticipates to be licensed for cultivation on Vancouver Island in late 2019. Atlas is well financed, raising over $25.6 million in equity to date, including $7.6 million related to acquisition of land and strategic investments. Atlas also has available for future use a largely unutilized $6.25 million bank term loan.
Premier Danielle Smith issued the following statement on the April 2, 2025 U.S. tariff announcement:
“Today was an important win for Canada and Alberta, as it appears the United States has decided to uphold the majority of the free trade agreement (CUSMA) between our two nations. It also appears this will continue to be the case until after the Canadian federal election has concluded and the newly elected Canadian government is able to renegotiate CUSMA with the U.S. administration.
“This is precisely what I have been advocating for from the U.S. administration for months.
“It means that the majority of goods sold into the United States from Canada will have no tariffs applied to them, including zero per cent tariffs on energy, minerals, agricultural products, uranium, seafood, potash and host of other Canadian goods.
“There is still work to be done, of course. Unfortunately, tariffs previously announced by the United States on Canadian automobiles, steel and aluminum have not been removed. The efforts of premiers and the federal government should therefore shift towards removing or significantly reducing these remaining tariffs as we go forward and ensuring affected workers across Canada are generously supported until the situation is resolved.
“I again call on all involved in our national advocacy efforts to focus on diplomacy and persuasion while avoiding unnecessary escalation. Clearly, this strategy has been the most effective to this point.
“As it appears the worst of this tariff dispute is behind us (though there is still work to be done), it is my sincere hope that we, as Canadians, can abandon the disastrous policies that have made Canada vulnerable to and overly dependent on the United States, fast-track national resource corridors, get out of the way of provincial resource development and turn our country into an independent economic juggernaut and energy superpower.”
From the Fraser Institute
By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.
Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.
In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.
Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).
Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.
The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.
Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.
Jock Finlayson
Senior Fellow, Fraser Institute
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