Herzliya, Israel and Calgary, Alberta--(Newsfile Corp. - July 9, 2021) - Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the "Company" or "Innocan") announces the filing of an international patent application for Topical Composition for the Treatment of Diabetic Symptoms. The patent application discloses and makes claims for several compositions for topical administration comprising of cannabinoid for the treatment of diabetic related conditions. Specifically, the compositions enable enhancing of blood flow to peripheral areas in patients suffering from diabetes symptoms.
Diabetes is a chronic, metabolic disease characterized by elevated levels of blood glucose (or blood sugar), which leads over time to serious damage to the heart, blood vessels, eyes, kidneys, and nerves.
According to the CDC (Centers for Disease Control and Prevention, 2020), 463 million adults are suffering from diabetes worldwide. In the United States alone, 34.2 million adults are diagnosed with diabetes, 10.5% of the population.
The global creams and lotions for the diabetic foot care market was valued at USD $334.66 million in 2019 and is expected to grow at a CAGR of 7.7% during the forecasted period of 2020-2029. According to Straits Research, new product developments, the growing diabetes prevalence, and high spending on diabetes management are factors driving the market.
Innocan is expanding its intellectual property portfolio of cannabis-based products to be a source of potential breakthroughs in skin therapy as well as for further opportunities across the broad spectrum of inflammatory indications with currently unmet medical needs.
Diabetes is considered one of the major diseases of the 21st century", says CEO Iris Bincovich, "as calorie intake is on the rise, more and more people are suffering with diverse syndromes associated with severe diabetes, like ulcers and foot-related diseases, which may result in death. Our IP portfolio is expanding constantly, which we believe positions Innocan as a major player in the field" and Bincovich continues, "I am glad to report that this represents our 12 patents for InnoCan and we are working hard to file more patents very soon!"
The Company, through its wholly owned Israeli subsidiary, Innocan Pharma Ltd. ("Innocan Israel"), is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol ("CBD"). Innocan Israel and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Coronavirus using CBD. CBD-loaded exosomes hold the potential to help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
Innocan Israel signed a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem to develop a CBD drug delivery platform based on a unique-controlled release liposome to be administrated by injection. Innocan Israel plans, together with Professor Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University, to test the liposome platform on several potential indications. Innocan Israel is also working on a dermal product that integrates CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of Innocan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.
For further information, please contact:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
Lytham Partners, LLC
Ben Shamsian CPA | Vice President
Direct: 646-829-9701; Cell: 516-652-9004`Shamsian
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Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding the size and growth of the markets, the granting of the patent underlying the application, therapeutic breakthroughs from the inventions underlying the Company's intellectual property, requisite regulatory approvals and the anticipated timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.
Forward-looking information is subject to various risks and uncertainties, which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at: www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
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