Blake Insomnia Therapeutics, Inc. (OTCQB: BKIT) is a pharmaceutical company that produces treatments for people suffering from insomnia. Shares of the pharmaceutical company are rallying 14.20%, through afternoon trading on Monday, February 27, 2017. Over the past three months, Blake Insomnia Therapeutics, Inc. has seen average daily volume of 306,329 shares. However, volume of 459,278 shares or dollar volume of $339,865, has already exchanged hands through afternoon trading today.

Shares of Blake Insomnia Therapeutics, Inc. are rallying Monday, after the company announced that it has completed its joint venture agreement with Sajo Consulting LLC. Under the joint venture agreement, the two companies developed oral treatments for insomnia, which is called Zleepax. Here is the press release detailing of the joint venture agreement completion:

Blake Insomnia Therapeutics, Inc. Press Release:

NEW YORK, Feb. 25, 2017 (GLOBE NEWSWIRE) — Blake Insomnia Therapeutics, Inc. (BKIT) and Sajo Consulting LLC are pleased to announce completion of a joint venture agreement for the development and commercialization of a series of oral drug products to aid in the treatment of insomnia. The joint venture intends to develop products to treat transient insomnia using Blake’s proprietary Zleepax™ formula.

Clinical trials are planned for Q2 2017 pending approval of a New Drug Application in Canada with US and International submissions to follow later.

Sajo Consulting LLC

Sajo designs solutions and strategies in getting products to market faster and smarter. Their research, scientific, regulatory and operational team puts best practice standards to work while building innovative solutions for constantly evolving industries.

Blake Insomnia Therapeutics, Inc.

Blake is a New York-based pharmaceutical company devoted to improving night-time and daytime quality of life for people with insomnia. The company’s patent-pending ZLX-1 compound has demonstrated efficacy without producing the side effects identified as the No. 1 problem with current sleep medication. The ZLX-1 compound is marketed under the brand name, Zleepax™.

Please visit www.blakeinsomnia.com to learn more about the company, management and the ZLX-1 compound.

Forward-Looking Statements:

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

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