Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQB:CTABF) announced Monday it has received a patent covering its proprietary cannabidiol formulations in Canada.
The patent, which has a priority date of January 23, 2017, expires in January 2038.
Toronto-based Canntab develops hard pill cannabinoid formulations in multiple doses and timed-release combinations. The company told shareholders it believes hard pill formulations are superior to other standard CBD and THC delivery systems as they allow for customizable and precise dosing.
READ: Canntab Therapeutics closes C$1.575 million non-brokered private placement of convertible debentures
Canntab now has patent protection in Canada and the US, according to Canntab’s legal counsel Gavin Bogle of the law firm Magyar, Bogle & O'Hara LLP.
“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,” Bogle said in a statement.
Canntab’s CEO Larry Latowsky told shareholders that the granting of the patent is another major milestone that confirms the group’s unique offering.
“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 five 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,” Latowsky said.
"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.”
Canntab is currently designing a study looking at providing greater bio-availability through a blood level study at a third-party clinical research organization.
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