Biotech Leader's Cannabis Division, Evolve Formulas, Prepares to Launch in Canadian Market
DENVER, July 31, 2018 /CNW/ -- NanoSphere Health Sciences, Inc (CSE: NSHS) (OTC: NSHSF), the biotechnology leader behind the patented NanoSphere Delivery System™, has entered into a partnership with Delta 9 Cannabis INC to bring products from its cannabis brand, Evolve Formulas, into the Canadian market.
Recently awarded U.S. Patent No. 10,028,919, NanoSphere has just been granted market exclusivity over the standardized delivery of cannabis into systemic circulation through phospholipid nanoparticle technology. The new patent complements NanoSphere's previously issued patent, U.S. Patent No. 9,925,149, covering the core technology behind the production of the NanoSphere Delivery System™.
The Company's groundbreaking delivery system works by nanoencapsulating active ingredients in phospholipid membranes for transportation through the skin and mucosa into the bloodstream within minutes. Cannabis applications of the technology include transdermal viscous gels, intranasal products and intraoral products, all of which provide rapid results, precise dosages and high bioavailability. This cutting-edge advancement eliminates the need for inhalation or ingestion of cannabis, offering users a safer and more effective method of consumption.
Delta 9 and Nanosphere have signed a Memorandum of Understanding that cedes the Master License for Nanosphere's patented technology to Delta 9 for all of Canada. Delta 9 may also sub-license the technology to other Licensed Producers of cannabis under the ACMPR. Delta 9 is a licensed producer of marijuana and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. This is NanoSphere's third licensing agreement of 2018, having recently announced partnerships that will bring its Evolve Formulas products to both California and Arizona.
"Delta 9 shares NanoSphere's vision for bringing innovative and reliable products to market for recreational and medical consumers alike in the only G7 nation that has legalized cannabis for both purposes. This milestone furthers our momentum during a period of substantial company growth, having recently announced the U.S. patent for our cannabinoid delivery system and experienced increased sales in the Colorado market. This partnership was a natural next step in our continued success, allowing us to bring our game-changing cannabis solutions to an international audience. We hope through our work to eliminate the need for patients to be essentially 'smoking their medicine', and to give physicians a new and important tool to treat conditions that respond to cannabinoids," said Robert Sutton, Chairman and CEO of NanoSphere Health Sciences and Evolve Formulas.
"NanoSphere has developed the most scientifically advanced and medically appropriate delivery systems we've seen for cannabinoids on the market. The lack of a standardized delivery system has been the single greatest impediment for doctors who would otherwise prescribe cannabis for various medical conditions. We haven't seen anything in the market today that can match the Nanosphere Delivery System™ for safety and precision of dosage," said Delta 9 CEO John Arbuthnot.
Under the agreement, Delta 9 and NanoSphere will each receive 50 percent of the net revenue from sale of Evolve Formulas products. The initial term of the agreement is 36 months following the date of the first commercial sale of licensed products. Delta 9 is also bound to apply to Health Canada for authorization to distribute Nanosphere products.
For more information or to schedule an interview, please contact Emily Kielthy at [email protected] or 646-695-7045.
On behalf of the Board
David Sutton, President and COO
Office: 720.520.4283
E-mail: [email protected]
Investor Contact:
Victor Goncalves, Executive Vice President
Mobile: 204-997-5517
E-mail: [email protected]
NanoSphere's Commitment to Licensing IP
NanoSphere launched its IP licensing program in 2015 and is entertaining several licensing opportunities via a rigorous evaluation process. For more information about NanoSphere's licensing program, please visit: https://www.nanospherehealth.com/licensing/
About NanoSphere
Recently awarded the Frost and Sullivan 2018 Best Practices Award for Technological Innovation, NanoSphere Health Sciences LLC, is a biotechnology firm specializing in the creation of the NanoSphere Delivery System™: A revolutionary platform using nanotechnology in the biodelivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. Covered by U.S. Patent No. 10,028,919 and U.S. Patent No. 9,925,149, the NanoSphere Delivery System™ represents one of the most important developments for advancing the non-invasive and user-friendly delivery of biological agents in over 25 years. For more information on NanoSphere, please visit http://www.nanospherehealth.com.
About Delta 9 Cannabis Inc.
Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical marijuana pursuant to the ACMPR and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9's shares trade on the TSX Venture Exchange under the symbol "NINE".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement Caution
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements, whether as a result of new information, future events or otherwise.
For more information contact:
Emily Kielthy
[email protected]
646-695-7045
SOURCE NanoSphere Health Sciences, Inc
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