United Cannabis (OTCQB:CNAB) received a patent from the US Patent and Trademark Office covering the rights to the formulations of compounds extracted from cannabis plant materials.
As quoted in the press release:
More specifically, the composition of matter pertaining to the use of phytocannabinoids, cannabinoids, and specific terpene profiles in liquid form. This composition of matter patent provides protection for United Cannabis’ proprietary formulations.
Earnest Blackmon, United Cannabis’ Chief Executive Officer, commented on the approval, “This is a significant milestone for United Cannabis. Our primary objective has always been to develop unique and effective cannabinoid based products. This Patent is one the cornerstones of our business plan for obtaining FDA approval.”
Tony Verzura, the Company’s Chief Technology Officer, added, “I have spent the last 20 years working with cannabis as a patient, activist, caregiver, and innovator. Our patented innovations enabled our team to utilize chemical-free extractions and infusion methodologies for a wide range of accurately dosed products. These advances have helped us provide relief for thousands of patients suffering from a variety of ailments.”