CTT Enters into Business Development Partnership with 3 Rivers Biotech
Partnership Further Advances Aggressive Business Development Strategy
Pre-eminent Tissue Culture Company Provides Access to Substantial Network of CPG Companies
3 Rivers' Technology Transfer Capabilities Expand CTT's Operational Capacity
HAMILTON, ON, Sept. 8, 2020 /PRNewswire/ - CTT Pharmaceutical Holdings, Inc., (the "Company" or "CTT") (OTC: CTTH), an innovative life sciences company with a portfolio of IP in novel drug delivery systems, today announced that it has entered into a business development partnership with 3 Rivers Biotech, a pre-eminent tissue culture company. Under the agreement, 3 Rivers will leverage its network of suppliers to and manufacturers of Consumer Packaged Goods (CPG) to secure commercial partnerships based on CTT's patented sublingual wafer technology.
Additionally, the agreement includes the ability for CTT to utilize 3 Rivers' operational capabilities to execute technology transfers and project implementation for new customers, providing a cost-efficient and de-risked expansion of CTT's operational capacity.
3 Rivers' is one of few companies with a successful track record in the consistent, commercial-scale supply of tissue-culture-based clones for a variety of sectors, including the hemp industry. As a trusted partner, 3 Rivers is very well positioned to engage in meaningful discussions within its network to explore the potential for commercial partnerships on behalf of CTT.
CTT's rapidly dissolving sublingual wafers deliver active ingredients through the buccal/mucosal route, which provides a number of key advantages over other delivery mechanisms, meeting important current market dynamics. These advantages offer CPG companies the opportunity to expand their portfolios with a well-differentiated, high-margin product offering on rapidly growing market segments.
- Rapid onset CTT's strips dissolve quickly in the oral cavity (5-15 seconds), with the active ingredient rapidly absorbed into the bloodstream
- Increased bioavailability the active ingredient, once absorbed, can bypass the liver's first-pass effect, improving therapeutic outcomes and efficacy through improved bioavailability
- Safe smoke-free delivery bypassing lungs and digestive system
- Ease of use taken orally, not requiring water or swallowing
- Accurate and consistent dosing precisely determined and consistent potency of the active ingredient, a critical advantage over most other form factors
- Increased adherence the ease of use and discrete administration can help increase positive adherence outcomes
- Large target markets suitable for a wide range of applications in medical, wellness and recreational markets
Marc Lakmaaker, SVP Commercial Development for CTT, stated, "3 Rivers is a trusted partner at the root of the value chain for a growing number of companies in the CPG sector. Its network in large geographic markets, such as North America, China and Europe, creates a very significant opportunity for CTT to accelerate growth. The partnership also provides additional implementation bandwidth, which further de-risks our expansion efforts in a cost-effective manner."
Dr. Kevin Mehr, VP of Sales at 3 Rivers, added, "We believe that CTT's sublingual strips provide a unique and compelling commercial proposition for many companies in our network across a wide variety of sectors. The science behind CTT's technology, the effectiveness of its products, the Company's successful track record in bringing a new technology to market, and the caliber of its people, clearly differentiate CTT from its competition. We believe that these factors will greatly facilitate our ability to build new partnerships, and we look forward engaging with our network, on behalf of CTT."
One of the 3 Rivers' principals, Robert Allen, serves as CTT's Chief Financial Officer. No cash consideration is part of the completion of this agreement. While no financial details are disclosed, any remuneration, other than for project implementation, will be success based.
About CTT Pharmaceutical
CTT is a drug delivery technology development company. The Company brought its first product to market following the successful launch of the cannabinoid-infused Aurora Cannabis 'Dissolve Strips'.
CTT 's patent portfolio covers a nanonized, orally administrable composition that can be applied to various delivery systems including a quick dissolving oral film forming agent that effectively delivers nanonized therapeutics to improve the bioavailability of therapeutic drugs that are difficult to deliver orally. The main aim of CTT's technology is the delivery of large therapeutic molecules such as proteins or cannabinoids, as well as other active ingredients, such as nutraceuticals and pharmaceuticals. This technology has potential indications in pain management and opioid addiction management.
CTT's portfolio currently contains five issued (three Canadian and two U.S.) patents with a number of international patent applications pending in over fifty countries.
For more information, please visit our website: www.cttpharmaceuticals.com
CTT's common shares trade on the OTC market in the United States under the symbol "CTTH".
About 3Rivers Biotech
3 Rivers Biotech is a plant biotechnology company specializing in hemp tissue culture to provide premium pathogen-free, pesticide-free, vigorous plants to cultivators and late-stage nurseries across the United States and Internationally. We eliminate the risks and variables of commercial cultivation by providing our customers with stable genetics and vigorous, disease-free clones. Our experienced team, with over 50 million plants supplied and counting, has been focused on perfecting plant propagation for decades. Our partnership with JRT Nurseries and its large-scale Mount Vernon tissue culture facility provides us with the ability to scale and ship plants globally. This facility is one of the largest and most reputable plant tissue culture nurseries in North America, capable of producing over 12+ million hemp plants annually. We are not breeders but work with industry-leading breeders to provide our partners with elite genetics across the entire horticultural industry.
Forward looking statements
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The company is under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE CTT Pharmaceutical Holdings, Inc.
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