Canntab Granted 2nd Patent For Immediate Release Cannabidiol Formulation Tablets
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TORONTO, Feb. 1, 2021 /PRNewswire/ - Canntab Therapeutics Limited (CSE: PILL.CN) (OTCQB: CTABF) (FRA: TBF1.F) (the "Company" or "Canntab"), a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, is thrilled to announce the Canadian Intellectual Property Office ("CIPO") has allowed Canadian Patent No. CA 3050150 to Canntab, related to its proprietary cannabidiol formulations with a priority date of January 23, 2017. The term of the patent expires on January 22, 2038.
Canntab's Legal Counsel on intellectual property, Gavin Bogle of Magyar, Bogle & O'Hara LLP said, "The allowance of Canntab's patent by the Canadian Intellectual Property Office provides fundamental intellectual protection for Canntab's innovative tableting technology and validates the years of research and development the company has conducted. The Company now has patent protection in Canada and the USA providing an international scope to the Company's expanding portfolio of issued patents."
Canntab believes its hard pill formulations are superior to all other medical 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, as opposed to the widely available gel caps and capsule products from other suppliers.
Larry Latowsky, CEO of Canntab said, "This is another major milestone that confirms our proprietary formulations are unique and differentiated from other product offerings in the global marketplace. Intellectual property is at the root of our value proposition and, having been granted our first Canadian patent and our second patent overall in less than 5 months, further confirms our leading position as the go to company for precise dosage and pharmaceutical grade tablets for the medical market containing THC, CBD or any combination of THC and CBD." Mr. Latowsky added "we are particularly pleased with the opportunities that are being presented for us to provide solutions to the USA market with the anticipated regulatory changes contemplated by the Biden Administration which we anticipate will allow us faster access to the largest medical cannabis market in the world".
To further advance our IP, Canntab intends to prove greater bio-availability through a blood level study at a third party Clinical Research Organization ("CRO"). This study is currently in the planning phase and Canntab will provide further details on timing and results as soon as this information becomes available. Going forward, Canntab is able to provide extended-release formulations, whether the intended use is for medical, recreational or nutraceutical purposes, which will make it easier for doctors, patients, and the average consumer to make Canntab products their preferred cannabinoid delivery option.
Canntab has filed more than a dozen patent applications in the United States and Canada for which two have now been granted or allowed. Canntab has developed both patented and patent pending technologies to deliver standardized medical cannabis extract from selective strains in a variety of extended-release/ sustained-release pharmaceutical grade delivery systems.
On September 21, 2020 Canntab had announced that pursuant to a filing made in March 2017, the U.S. Patent and Trademark Office (USPTO) had 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. The patent granted was 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.
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 anticipated regulatory changes in the United States allowing the Company to access that market quicker than initially anticipated, and the Company being able to provide greater bio-availability through a blood level study at a third party Clinical Research Organization. The material factors or assumptions used to develop these forward-looking statements include that the federal administration in the United States will repeal legislation rendering the use and possession of cannabis illegal for any purpose, including medical purposes, and that the proposed blood level study at a third party Clinical Research Organization will demonstrate that the Company's products have greater bioavailability than its competitors. 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. 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 federal administration in the United States declines to repeal legislation rendering the use and possession of cannabis illegal for any purpose, including medical purposes, and that the study conducted by a third party Clinical Research Organization demonstrates that the Company's products do not have greater bioavailability. 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. 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.
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SOURCE Canntab Therapeutics Limited
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