The application stakes out a claim for a topical pharma composition to treat the symptoms of itching and inflammation associated with psoriasis
Corporation () (FSE:IP4) revealed Thursday that its wholly-owned subsidiary, InnoCan Pharma Ltd (Innocan Israel) has filed an international patent application for a novel cannabis-based skin treatment for psoriasis, a disorder where skin cells build up and form dry patches.
The patent application stakes out a claim for a topical pharmaceutical composition to treat the symptoms of itching and inflammation commonly associated with psoriasis.
"The global psoriasis drugs market is forecast to reach $39 billion by 2027,” according to a report by market intelligence and strategic consulting firm Reports and Data. The report also says that the psoriasis drugs market which had $16.21 billion market share in 2018 is forecasted to grow at a rate of 9.6% during the forecast period.
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In a statement, InnoCan Pharma CEO Iris Bincovich said this is “another demonstration” that the company’s science-based approach quickly leads to “actionable intellectual property.”
“InnoCan's R&D is consistently developing new solutions for the well-being of patients by establishing an unrivaled line of medical products through the integration of CBD, based on InnoCan's exclusive intellectual property," Bincovich added.
According to the company, psoriasis is a skin disorder which accelerates the life cycle of skin cells. “It is usually considered to be a chronic condition. The symptoms of psoriasis are stinging, itching, and pain,” said the company.
InnoCan believes that the company’s expanding “intellectual property portfolio of cannabis-based products” is a source of “potential breakthroughs in pain therapy” and offers opportunities “across a broad spectrum of inflammatory indications” with currently unmet medical needs.
InnoCan Pharma through its wholly-owned subsidiary, InnoCan Israel, is a pharmaceutical tech company that develops products that harness the unique properties of cannabinoids combined with smart delivery formulations. InnoCan and Tel Aviv University are collaborating on developing a new exosome-based technology that targets both central nervous system disorders and the coronavirus (COVID-19).
Last month, Innocan revealed that CBD-loaded Exosomes hold the potential to provide anti-inflammatory properties and help infected lung cells to recover. The company’s product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
Contact the author Uttara Choudhury at uttar[email protected]
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