01:17:49 EDT Thu 23 Sep 2021
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Canntab Therapeutics Ltd
Symbol PILL
Shares Issued 35,451,437
Close 2021-03-08 C$ 0.96
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Canntab receives Australian patent, $406,200 order

2021-03-09 02:40 ET - News Release

Mr. Larry Latowsky reports


The Australian Patent Office has granted Australian patent No. AU 2018210690 to Canntab Therapeutics Ltd., related to its proprietary cannabidiol formulations with a priority date of Jan. 23, 2017. The term of the patent expires on Jan. 22, 2038.

Canntab's legal counsel on intellectual property, Gavin Bogle of Magyar, Bogle & O'Hara LLP, said: "The allowance of Canntab's patent by the Australian Patent Office continues to further provide fundamental intellectual protection for Canntab's innovative tableting technology and even further validates the years of research and development the company has conducted. The company now has patent protection in the [United States], Canada and Australia, providing an international scope to the company's expanding portfolio of issued patents."

Canntab believes its hard pill formulations are superior to all other medical cannabidiol and tetrahydrocannabinol delivery systems since they are true pharmaceutical-grade delivery systems, which provide superior ingredient stability and enhanced bioavailability, and provide customizable and precise dosing, as opposed to the widely available gel capsule products from other suppliers.

Canntab has 11 pending patent applications internationally and three patents which have now been granted. Canntab has developed both patented and patent-pending technologies to deliver standardized medical cannabis extract in a variety of extended-release/ sustained-release pharmaceutical-grade delivery systems.

Cann Global Ltd. purchase order

Canntab is also pleased to announce that further to an announcement made on Oct. 26, 2020, Canntab has now received an initial purchase order in the amount of $406,200 with its Australian partner, Cann Global. The initial purchase order includes six SKUs composed of 2.5 milligrams THC, five milligrams THC, 12.5 milligrams CBD, 25 milligrams THC and combined caplets (a hard coated tablet in the shape of a capsule) with five mg THC/25 mg CBD and 2.5 mg THC/12.5 mg CBD.

Cann Global has already received its import licence from the Australian government Department of Health while Canntab is waiting for an export licence approval from Health Canada to fulfill and ship the order. The products ordered by Cann Global will be distributed throughout Australia to medical distributors, including doctors, pharmacies and hospitals. Canntab will update its shareholders as soon as its export licence has been approved.

Larry Latowsky, chief executive officer of Canntab, said: "These are two major milestones that confirms our proprietary formulations are unique and different from other product offerings in the global marketplace. Intellectual property is at the root of our value proposition, and having been granted our first Australian patent and our third patent over all in less than five months further confirms our leading position as the go-to company for precise dosage and pharmaceutical-grade tablets and caplets for the medical market containing THC, CBD, or many combinations of THC and CBD."

Mr. Latowsky added: "We are completing production of our first order and are in the final stages of approval with Health Canada for the proper export permits that will allow us to ship our order to Australia. With recent developments in the Australian market and the increasing acceptance of medical cannabis, we are quite confident that our partnership with and supply to Cann Global will contribute to our planned growth."

Canntab to participate in Australia's largest observational medical cannabis research study

Applied Cannabis Research Observational Study Applied Cannabis Research (ACR), a leading Australian contract research organization focused exclusively on medical cannabis treatments, has launched Australia's largest observational study ever undertaken for medical cannabis. Canntab, through the products it will supply to Cann Global, which is a direct participant in the study, will be participating in this clinical collaboration with major Australian clinics and hospitals to complete the cannabinoid medicine observational study (CMOS) that will collect data from 20,000 patients nationwide over five years, with results to be released on a continuing basis. CMOS aims to assess the safety and efficacy of medicinal cannabis products for a range of refractory conditions, including fibromyalgia, chronic pain syndromes, posttraumatic stress disorder, epilepsy, and other mental health and neurological conditions using cannabis, including Canntab's hard pill cannabinoid formulations. ACR will lead the study in conjunction with Australia's medical community and key industry partners such as Althea Group Holdings, Cronos Australia, Cymra Life Sciences, Medcan Australia and Cann Global.

About Canntab Therapeutics Ltd.

Canntab Therapeutics is a Canadian biopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations. Long referred to as cannabis 3.0 by the company, Canntab's proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical-grade solutions, which incorporate all the features one would expect from any prescription or over-the-counter medication sold in pharmacies around the world. These will include the following formulations: once a day and extended release, both providing an accurate dose and improved shelf stability.

Canntab holds a cannabis standard processing and sales for medical purpose licence, a cannabis research licence, and an industrial hemp licence from Health Canada.

Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF and on the Frankfurt Stock Exchange under the symbol TBF1.

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