HAMILTON, Ontario, Jan. 10, 2018 (GLOBE NEWSWIRE) — CTT Pharmaceutical Holdings, Inc., (OTC:CTTH), an innovative life sciences company with an extensive portfolio of IP in novel drug delivery systems designed to improve patient outcomes and experiences, is pleased to announce that the US Patent and Trademark Office has granted the Company U.S. Patent # 9,833,461, titled, “Therapeutic Composition Comprising Cannabidiol and Corticosteroids”, under the classifications of “Chewable Tablets and Wafers”. This newly-issued patent expands the Company’s patent portfolio to 4 issued (2 Canadian and 2 U.S.) with 2 patents pending and a Worldwide PCT.
It has now been found that a combination of tetrahydrocannabinoid (THC) compound, a second cannabinoid and a steroid are useful to treat psoriasis and related conditions. The global psoriasis market size was valued at US$ 11.5 billion in 2016 and is estimated to grow at a CAGR of 9.3%.
“We are in a unique position to leverage and monetize our technology as a result of the granted U.S., Canadian and Worldwide patents that make up our IP assets. Very few of the companies in the Oral Thin Film industry, to our knowledge, have any patents issued in regards to wafers and/or strips and as a result may be infringing on our patents,” said Dr. Pankaj Modi, CEO of CTTH. “The fastest growing product segment in the medical cannabis industry today are the cannabis oils and all the derivative products that utilize the cannabis oils; we believe our sub-lingual wafer, the CannaWafe, would be the most elegant and efficient product in this category.”
Through its wholly-owned Canadian subsidiary CTT Pharmaceuticals, Inc., the Company is currently in discussions with potential licensing and joint-venture partner opportunities from companies that are Licensed Producers (LP’s) in Canada, as well as Licensed Growers in the United States that offer medical and recreational cannabis products in California, Nevada, Colorado, Oregon, Washington, Alaska, Maine and Massachusetts. The Company expects to formalize and announce these arrangements in the first quarter of 2018.
Hemp-derived cannabidiol (CBD) which can be delivered by the Company’s sub‑lingual wafer is expected to be a billion dollar market in just three years according to a new report by the Brightfield Group. In Canada, the cannabis oils market has been steadily increasing in volume, so much that it tripled in sales since September 2016 according to Greencamp News. Some of the Canadian LP’s who are currently licensed to sell cannabis oil now report that this segment represents 55% of their sales.
The Company’s family of patents can now be classified into three distinct categories:
1) Wafer Formulation Patents
Canadian patent # 2624110 (issued)
U.S. patent # 8623401 (issued)
2) Novel Therapeutic Composition Cannabinoid/Steroid Patents
Canadian patent # 2910206 (issued)
U.S. patent # 9833461 (issued)
3) Orally Administrable Composition of Nanonized Cannabinoids Patents
Canadian patent # 2922959 (pending)
U.S. patent # 14921501 (pending)
4) International Patent Cooperation Treaty (PCT)
PCT/CA2017/050250 covering 151 participating countries
About CTT Pharmaceutical Holdings, Inc.
CTTH’s principal asset is a unique and novel patented drug delivery technology, an orally administered, fast dissolving thin film (the “Wafer”). This technology platform will target both the human and veterinarian (pet) markets for treatment of many diseases including pain management.
The Oral Thin Film (Wafer) formulation is protected by several Canadian and US Patents. CTTH’s oral fast dissolving drug delivery systems will consist of edible Wafers that dissolve without water, within a few seconds after placement in the mouth. The majority of drugs administered using our drug delivery system mirror injections in that they have the ability to enter the bloodstream quickly, are convenient and discrete, and can be administered anywhere. A faster absorption rate is achieved because the mouth contains a very thin mucosa and is extremely vascular. There is no bitter taste, no smoke inhalation as is the case with cannabis, less degradation of medication (by bypassing the stomach) and most importantly lower dosage units are required given the efficacy of absorption. Patient compliance is improved, especially with those who have a fear of choking and/or are pediatric, geriatric or incapacitated patients who have difficulty swallowing.
Most fast dissolving systems on the market today deliver anti-inflammatories, antihistamines and cough and breathing related medications. CTTH believes that its Wafer technology will be one of the first to gain use in major markets such as pain management.
For more information, please visit our website: www.cttpharmaceuticals.com
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including our future sales, income and financial position. The forward-looking statements included in this news release are made as of the date of this news release and CTT Pharmaceutical Holdings not undertake to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, unless required by applicable securities law.
For more information or to schedule an interview, please contact:
Dr. Pankaj Modi
info@cttpharmaceuticals.com
(866) 803 8386