Codebase investee has secured rights to Transdermal Hydroxychloroquine Drug Delivery System

VANCOUVER, BC, CANADA (April 20th, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), an investment company, is pleased to build upon its announcement of April 16th regarding its binding letter of intent to invest in an arms-length private company with  rights to a provisional patent for a transdermal drug delivery system for hydroxychloroquine (HCQ), a drug currently used to treat malaria, lupus and rheumatoid arthritis, and being tested as a potential treatment for Covid 19.  Hydroxychloroquine is now being tested on a global basis for the treatment and prevention of Covid-19, highlights include:

Approved by the FDA for malaria, lupus and rheumatoid arthritis, hydroxychloroquine and chloroquine are one of four potential treatments that the World Health Organization has included in its global Solidarity Clinical Trial for Covid-19 Treatments.1 Currently, there are 90 countries participating in Solidarity.

As it relates to hydroxychloroquine and chloroquine, clinical trials focus upon the drug’s application for autoimmune diseases like lupus and rheumatoid arthritis, where the drug works to lessen the impacts of an overactive immune system, and HCQ’s potential antiviral effects, which have been demonstrated in test-tube scenarios. The potential benefit to Covid-19 patients include the potential to mitigate an overactive immune system response where the body is essentially attacking itself and on the antiviral front, the hypothesis is that it could prevent the virus from attacking cells and replicating.2,3

The world’s largest randomized, controlled clinical trial of potential coronavirus treatments has begun in the UK, where hydroxychloroquine is one of four treatments being studied across 130 hospitals.4 Named Recovery, the trial is funded by a grant to the University of Oxford from the U.K. Research and Innovation/National Institute for Health Research (NIHR) and the Bill and Melinda Gates Foundation, among other organizations.5

In the United States, a major randomized controlled clinical trial focused on the preventative role hydroxychloroquine can play in relation to Covid-19 has been fast tracked and now has its first patients – the study is jointly led by NYU Langone and the University of Washington.6

“It is encouraging to see the momentum on these studies build so rapidly to address the current pandemic,” said Mr. George Tsafalas, Code President and CEO. “The influx of new information and precedent supports our lab partners in the process of conducting their initial phase of literature search and reformulation studies as previously announced.”

The Company is not making any express or implied claims that hydroxychloroquine or chloroquine has the ability to eliminate, cure or contain Covid-19 at this time.