Canntab Therapeutics (CSE:PILL) (“Canntab” or the “Company”), today announced the achievement of a milestone with regards to the development of a patent-pending oral extended release formulation for cannabinoids in collaboration with Emblem Corp. (TSXV: EMC) (OTCQX: EMMBF), a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) through its wholly-owned subsidiary Emblem Cannabis Corporation (collectively, “Emblem”).
Dissolution testing conducted by Emblem and Canntab’s research and development teams indicated that the Extended Release Tablets released cannabinoids consistently over a 12-hour period. Given these positive test results, the Company will now begin manufacturing pivotal batches of these tablets for pharmacokinetic and clinical testing. Under the license agreement between Canntab and Emblem, development and initial production will take place at Emblem’s Paris, Ontario facility. Emblem will continue to advocate Health Canada for the approval of this and other advanced formulations of cannabinoid medications under the new Cannabis Act.
“Canntab is thrilled to see continued momentum on development of our oral extended release formulation. We’re confident that the license agreement with Emblem will help us to develop this product and to meet patients’ needs,” said Jeff Renwick, CEO, Canntab. “We look forward to the development of many potential markets for Canntab products, in part as a result of this significant milestone of Canntab’s.”
“Achieving this milestone marks a key step in the development of the oral extended release formulation,” said John H. Stewart, President, Emblem Medical. “The production of a reliable, long-acting formulation is complex and often very difficult to achieve. The results of the dissolution study signal that we will proceeding to the next stages of the product’s development with Canntab.”
Canntab’s Extended Release Tablets are designed to release cannabinoids over a period of 12 hours, which will provide patients with long-lasting effect without the need for multiple doses. Extended release medical products can be particularly valuable in the treatment of chronic conditions, such as chronic pain, where patients tend to require repeated dosing to obtain ongoing relief.
“Emblem’s strength in developing advanced formulations of cannabis for the medical market is further solidified by achievement of this major milestone. We believe the oral extended release formulation will be a game-changer in the medical cannabis market and that Emblem, through its license agreement with Canntab, is at the forefront of this development” said Nick Dean, CEO, Emblem Corp. “Precise, dose-controlled cannabis medications are critical to the acceptance of cannabis among prescribers and patients. Emblem has long been a medical-first LP and our foremost commitment is to patients. Innovative cannabis products for both the medical and adult-use space are fundamental to our long-term strategy, alongside brand building and distribution.”
The agreement between Emblem and Canntab calls for Emblem to make payments to Canntab upon achievement of certain milestones involving dissolution studies, bio-availability studies and regulatory approval of the Extended Release Product. As part of this milestone achievement, Emblem has made the required milestone payment to Canntab as a result of this significant achievement.
Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab’s mission is to put the “Medical” into medicinal cannabis! Canntab trades on the Canadian Securities Exchange under the symbol PILL.
Emblem, through its wholly-owned subsidiary Emblem Cannabis Corporation, is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Emblem’s state-of-the-art indoor cannabis cultivation facility and research and development laboratory is located in Paris, Ontario. Led by an experienced management team of healthcare executives, accomplished marketing professionals, and cannabis experts, Emblem is focused on driving shareholder value through product innovation, brand relevance, and access to patient and consumer channels. Emblem is also the parent company of GrowWise Health Limited, one of Canada’s leading cannabis education services. Emblem trades under the ticker symbol EMC on the TSX Venture Exchange.
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Canntab Therapeutics Ltd.
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