In addition, the company has received an initial purchase order of $406,200 with its Australian partner, Cann Global Limited
Canntab Therapeutics Limited () (OTCQB:CTABF) (FRA:TBF1) announced Tuesday that the Australian Patent Office has granted the company a patent related to its proprietary cannabidiol formulations.
In addition, the company reported it has now received an initial purchase order of $406,200 with its Australian partner, Cann Global Limited of Australia.
The company said the patent expires on January 22, 2038 and has a priority date of January 23, 2017.
READ: Canntab Therapeutics says it has completed its second delivery of two additional SKU's ordered by MediPharm Labs
"The allowance of Canntab's patent by the Australian Patent Office continues to further provide fundamental intellectual protection for Canntab's innovative tableting technology and even further validates the years of research and development the company has conducted,” said Canntab's Legal Counsel on intellectual property, Gavin Bogle of Magyar, Bogle & O'Hara LLP. “The company now has patent protection in the USA, Canada and Australia providing an international scope to the company's expanding portfolio of issued patents."
Canntab said it believes its hard pill formulations are superior to all other medical CBD and THC delivery systems since they are true pharmaceutical-grade delivery systems that provide superior ingredient stability, enhanced bioavailability, and provide customizable and precise dosing -- as opposed to the widely available gel capsule products from other suppliers.
Canntab has 11 pending patent applications internationally and three patents that have now been granted. The company has developed both patented and patent-pending technologies to deliver standardized medical cannabis extract in a variety of extended-release/sustained-release pharmaceutical-grade delivery systems.
Purchase order
The initial purchase order with partner Cann Global includes 6 SKUs comprised of 2.5 milligrams (mg) THC, 5mg THC, 12.5mg CBD, 25mg THC, and combined caplets (a hard-coated tablet in the shape of a capsule) with 5mg THC/25mg CBD and 2.5mg THC/12.5mg CBD.
Canntab noted that Cann Global has already received its import license from the Australian Government Department of Health, while Canntab is waiting for an Export License approval from Health Canada to fulfill and ship the order. The products ordered by Cann Global will be distributed throughout Australia to medical distributors, including doctors, pharmacies, and hospitals.
"These are two major milestones that confirm our proprietary formulations are unique and different from other product offerings in the global marketplace,” said Canntab CEO Larry Latowsky in a statement.
“Intellectual property is at the root of our value proposition and having been granted our first Australian patent and our third patent overall in less than five months further confirms our leading position as the go-to company for precise dosage and pharmaceutical grade tablets and caplets for the medical market containing THC, CBD or many combinations of THC and CBD."
Canntab to participate in medical cannabis study
In other company news. Canntab said that Applied Cannabis Research Observational Study Applied Cannabis Research (ACR), a leading Australian contract research organization focused exclusively on medical cannabis treatments, has launched Australia's largest observational study ever undertaken for medical cannabis.
Canntab, through the products it will supply to Cann Global, which is a direct participant in the study, will be participating in this clinical collaboration with major Australian clinics and hospitals to complete the Cannabinoid Medicine Observational Study (CMOS) that will collect data from 20,000 patients nationwide over five years, with results to be released on an ongoing basis.
CMOS aims to assess the safety and efficacy of medicinal cannabis products for a range of refractory conditions, including fibromyalgia, chronic pain syndromes, PTSD, epilepsy, and other mental health and neurological conditions using cannabis -- including Canntab's Hard Pill Cannabinoid Formulations.
ACR will lead the study in conjunction with Australia's medical community and key industry partners such as Althea Group Holdings, Cronos Australia, Cymra Life Sciences, Medcan Australia, and Cann Global.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham