Canntab Therapeutics Limited (CSE:PILL) (OTCMKTS:CTABF), the cannabis pill developer, has received a boost to its commercialization plans, it revealed Thursday, with a positive finding of patentability for its immediate release cannabidiol formulation.
Canntab has successfully created a line of patent-pending precision oral delivery hard tablets. The technology means the company can convert THC and CBD oil into a nano-emulsified granulation, and ultimately into a hard pill format.
Now, Geneva-based IPRP (the International Preliminary Report on Patentability) has indicated a positive finding of patentability, meaning that, in its opinion, Canntab's formulation is not only patentable but also "novel, non-obvious and useful."
Canntab noted that although the opinions of the IPRP are not binding, many patent offices, including Canada's for example, often defer to the IPRP.
"In fact, the Canadian office of the IPRP was also the international searching authority in this particular case, which bodes well for an eventual Canadian patent grant," it said in a regulatory statement.
"This is a first and an important indication that our Immediate Release Cannabidiol Formulation is unique and patentable. It is our intention to build on this success as we continue to seek additional patents in Canada, United States and internationally," said Jeff Renwick, co-founder and CEO of Canntab.
"Our extensive portfolio of proprietary hard tablets is our core value proposition and we believe that we are well positioned to be the dominant player in hard tablet cannabinoid formulations worldwide."
Canntab has filed 13 patents in Canada and the United States that cover a range of the processes and formulations it needs to create its oral delivery hard tablets.
These patents include its proprietary nano-emulsification technology, granulation process, methods of manufacturing, and covers its full line of precision oral delivery hard tablets including; Immediate release tablets, extended release tablets, sustained release tablets, Bi-Layered (Modified Release) tablets and flash melt formulations.
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