Patent Grant Provides the Company with a Disruptive Method of Delivering Active Therapeutic Molecules Orally for Absorption within Seven Minutes and Expands the Company’s Patent Portfolio to five Issued (3 Canadian and 2 U.S.) with one U.S. Patent Pending and two Worldwide PCT
HAMILTON, Ontario, Feb. 21, 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, is pleased to announce that the Canadian Intellectual Property Office has granted Canadian Patent # 2,922,959, titled, “Orally Administrable Composition”, to the Company. This patent has extremely broad protection for products such as Oral Thin Films, Wafers, Strips, Tablets, Gums etc. that deliver active nanonized pharmaceuticals including Cannabinoids, Opioids and most other large therapeutic molecules. This newly issued patent expands the Company’s patent portfolio to five issued (three Canadian and two U.S.) with one U.S. patent pending and two Worldwide PCT.
“This newly issued patent is the most valuable and difficult to obtain relative to the other four patents that the Company has been previously issued,” said Dr. Pankaj Modi, CEO of CTTH. “The claims allowed are so broad that virtually any entity in Canada that comes to market with a strip, wafer, tablet, or gum that has any active therapeutic molecule such as cannabinoids or opioids will be infringing upon our patent. The nanonization of cannabinoids and opioids through our Fast Dissolving Oral Thin Film sub-lingual wafers will provide the Company and its licensed Canadian distribution partner the opportunity to dominate and monopolize this industry in Canada. This patent also allows for the introduction of opioid reduction formulations whereby 10% to 25% of the opioid analgesics dose can be combined with 75% to 90% cannabinoids like THC and/or CBD which would reduce opioid consumption and overdosing possibilities and improve the safety profile of daily multiple doses of pain medications.”
The Company’s exclusive Canadian distribution partner, licensed producer CanniMed Therapeutics Inc. (TSX:CMED) is working toward obtaining Health Canada’s approval for our sub-lingual CannaWafe product and upon approval plans to manufacture and commercialize the technology in Canada for the medical cannabis market. CTT Pharma is pursuing additional sales and joint venture opportunities within North America, Europe and Asia through licensing and joint venture agreements with the objective of bringing its products to market worldwide.
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. The Company believes that its Wafer technology will be one of the first to gain use in major markets such as pain management.
The Oral Thin Film (Wafer) formulation is protected by several Canadian and U.S. patents.
CTTH’s oral fast dissolving drug delivery systems consists of edible Wafers that dissolve without water and 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 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 also improved especially with those who have a fear of choking or difficulty swallowing, and/or are pediatric, geriatric or incapacitated.
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