TORONTO, Sept. 21, 2020 /PRNewswire/ - Canntab Therapeutics Limited (CSE: PILL.CN) (OTCQB: CTABF) (FRA: TBF1.F) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, is thrilled to announce that, pursuant to a filing made in March 2017, the U.S. Patent and Trademark Office (USPTO) has issued U.S. Patent No. 10,772,837 to Canntab, titled "Modified Release Multi-Layer Tablet Cannabinoid Formulations. The term of the patent expires on March 15, 2038.
Larry Latowsky, CEO of Canntab said "this is a major milestone that confirms our proprietary formulations are unique and differentiated from other product offerings in the global marketplace which will support a faster revenue stream as we begin production and distribution in the immediate future. This is the first patent that was issued to date out of the 13 that we have applied for, and will be leveraged to solidify Canntab's position as the leader in solid dose (hard pill) formulations of medicinal cannabinoids.
The patent granted is for Canntab's bi-layer or multi-layer tablets consisting of both Instant Release ("IR") and Extended Release ('XR") formulations with THC, CBD and a variety of Terpenes and other Cannabinoids found in full spectrum Cannabis and Hemp oil resin.
Canntab believes that its hard pill formulations are superior to all other CBD and THC delivery systems since they are true pharmaceutical grade delivery systems which provide for superior ingredient stability, enhanced bioavailability, and provide customizable and precise dosing. Canntab believes and intends to prove greater bioavailability through a blood level study at a 3rd party Clinical Research Organization (CRO). In addition, whether it is for medical, recreational or nutraceutical purposes, Canntab is able to provide extended release formulations making it the clear delivery choice for doctors, patients or the average consumer.
"Canntab expects this and future patents to be very valuable in the development of our strategic partnerships and alliances and in our efforts to secure worldwide distribution of our proprietary products. As the medical community continues to recognize Cannabinoid alternatives to traditional therapies, we will continue to develop innovative approaches to support many clinical applications" continued Latowsky.
In addition, Canntab is conducting research to confirm its belief that its combined CBD and THC tablet can be effective to treat nicotine, alcohol, cannabis, opioid and other forms of addiction. Canntab will be using a derivative of these formulations for its clinical trial with Dr. Donald Garbuz from the University of British Columbia and as previously released in December 2018. This study aims to demonstrate the potential for the reduction or elimination of the use of opiates in patients during post-operative pain management.
This issued patent covers Canntab's modified release pharmaceutical compositions and more specifically compositions comprising cannabinoids and a process for preparation thereof as well as methods for administering the compositions to human users. The compositions may contain a combination of ingredients in proportions calculated to achieve therapeutic effect.
Canntab has filed applications for 13 patents in Canada and the United States that cover a range of processes and formulations that it uses to create its precision oral-delivery hard tablets, the future of medical cannabis. These patents include Canntab's proprietary nano-emulsification technology, granulation process, methods of manufacturing and covers its full line of precision oral-delivery hard tablets including instant (immediate) release tablets, extended release tablets, oral dissolvable tablets. Canntab has also filed a patent for an exclusive formulation of THC and CBD for the treatment of opioid addiction treatment therapy.
About Canntab Therapeutics
Canntab Therapeutics is a Canadian biopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations. Long referred to as Cannabis 3.0 by the Company, Canntab's proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world. These will include the following formulations: once a day and extended release, both providing an accurate dose and improved shelf stability.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes License, a Cannabis Research License, and an Industrial Hemp License from Health Canada.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.
This press release contains forward-looking statements. Forward-looking statements are statements that contemplate activities, events or developments that the Company anticipates will or may occur in the future. Forward-looking statements in this press release include, but are not limited to, those regarding the Company's patent being used to successfully treat nicotine, alcohol, cannabis, opioid and other forms of addiction, and the Company's plan to rely on the patent and additional patents issued in the future to develop strategic partnerships and alliances and efforts to secure worldwide distribution. These forward-looking statements reflect the Company's current expectations based on information currently available to management and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those projected. Risks and uncertainties include, but are not limited to, the risk that the medical community does not continue to recognize Cannabinoid alternatives to traditional therapies, the risk that the Company cannot provide greater bioavailability through a blood level study at a 3rd party CRO, the risk that providing extended release formulations will make the Company's products the clear delivery choice for doctors, patients or the average consumer, and the risk that its clinical trial with Dr. Donald Garbuz from the University of British Columbia does not demonstrate the potential for the reduction or elimination of the use of opiates in patients during post-operative pain management. Readers should refer to the risk disclosure included from time-to-time in the documents the Company files on SEDAR, available at www.sedar.com. The Company has also made certain assumptions in this press release, including but not limited to, the assumption that the patent will support a faster revenue stream, that production and distribution will commence in the immediate future, that the Company has the ability to continue developing innovative approaches to support many clinical applications of Cannabinoid alternatives, and that the Company's efforts to secure worldwide distribution of its proprietary products will be successful. Although the Company believes that the assumptions inherent in these forward-looking statements are reasonable, they are not guarantees of future performance and, accordingly, they should not be relied upon and there can be no assurance that any of them will prove to be accurate. Finally, these forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update them except as required by applicable law.
SOURCE Canntab Therapeutics Limited