Canntab Receives Initial Indication of Patentability for Immediate Release Cannabidiol Formulation
TORONTO, Aug. 15, 2019 /CNW/ - Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQX:CTABF) (FRA:TBF1.F) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, is pleased to announce that it has received an initial assessment from the Geneva-based International Preliminary Report on Patentability ("IPRP") for its Immediate Release Cannabidiol Formulation (the "Immediate Release Formulation"). The IPRP has indicated a positive finding of patentability, meaning that, in their opinion, Canntab's formulation is not only patentable but also novel, non-obvious and useful. National filings have already been completed in the United States and internationally, and the international application has now been completed in Canada and Australia.
Although the opinions of the IPRP are not binding, many patent offices, including Canada's for example, often defer to the IPRP. In fact, the Canadian office of the IPRP was also the international searching authority in this particular case, which bodes well for an eventual Canadian patent grant.
"This is a first and an important indication that our Immediate Release Cannabidiol Formulation is unique and patentable. It is our intention to build on this success as we continue to seek additional patents in Canada, United States and internationally. Our extensive portfolio of proprietary hard tablets is our core value proposition and we believe that we are well positioned to be the dominant player in hard tablet cannabinoid formulations world-wide," states Jeff Renwick, co-founder and CEO of Canntab.
Canntab's Extensive IP Portfolio – At the Core of Our Value Proposition
Canntab is a drug pharmaceutical company that has successfully created a line of patent-pending precision oral delivery hard tablets. Canntab's proprietary technology and know-how enables it to convert THC and CBD oil into a nano-emulsified granulation, and ultimately into a hard pill format.
Canntab has filed 13 patents in Canada and United States that cover a range of processes and formulations it needs 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 it's full line of precision oral delivery hard tablets including; Instant (Immediate) Release Tablets, Extended Release Tablets, Sustained Release Tablets, Bi-Layered (Modified Release) Tablets and Flash Melt Formulations.
As a late stage applicant to be a non-growing Licensed Producer and Processor, Canntab will be able to leverage its growing IP portfolio at its completed manufacturing facilities in both Markham and Cobourg.
About Canntab Therapeutics Limited
Canntab Therapeutics Ltd. is a Canadian company engaged in the research and development of advanced, pharmaceutical-grade formulations of cannabinoids and terpenes. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace, formulated in multiple doses and time release combinations. Canntab's proprietary hard pill cannabinoid formulations will provide doctors, patients and the general consumer with a medical grade solution with all the features you would expect from any prescription or over the counter medication.
Canntab can produce these unique products with relatively minimal capital expenditure requirements therefore positioning the Company to maintain high gross profit margins due to its extensive inventory of machinery and equipment.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQX Best Market under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.
Cautionary Statements
Neither the Canadian Securities Exchange (the "CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Immediate Release Formulation being patented in the United States, Canada, Australia and internationally, and the likelihood of the Canadian patent having a higher chances of success as a result of the positive findings of the IPRP. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Canntab Therapeutics Limited
Canntab Therapeutics Limited: Jeffrey Renwick, Chief Executive Officer, 289.301.3812, [email protected]; Frank Candido, Business Development Consultant, 514-969-5530, [email protected], [email protected]; Investor Relations: Relations Publiques Paradox Inc.; Jean-Francois Meilleur, 1-866-460-0408, [email protected], https://www.paradox-pr.ca/
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