Canntab Therapeutics Limited (OTCMKTS:CTABF) has received Australian Patent No AU2918210690 from the Australian Patent Office relating to its novel cannabidiol formulations with a priority date of January 2017. The patent will expire on January 22, 2038.
IP grant validates Canntab’s R&D efforts
Gavin Bogle of Magyar, Bogle & O’Hara LLP, Cannatab’s IP Legal Counsel, said that the Australian Patent officer’s patent grant continues to offer necessary intellectual protections for the company’s novel tableting tech. Equally, it validates the company’s years of research and development. Following the patents’ receipt, Canntab will now have patent protection in Australia, Canada, and the US giving an international scope for its growing issued patents portfolio.
Most importantly, the company believes in the superiority of its hard pill formulations compared to other medical THC and CBD delivery systems considering they are true pharma grade delivery systems. They offer superior ingredient stability, customizable and precise dosing, and enhanced bioavailability relative to the widely available gel capsule products from other suppliers. The company has created patented and patent-pending tech top delivery medical cannabis extracts in various sustained-/extended release pharmaceutical-grade delivery systems.
Canntab receives the first purchase order from Cann Global
Similarly, the company has announced that further to the October 26, 2020 announcement, it is now in receipt of an initial purchase order amounting to $406,200 with its partner Cann Global Limited of Australia. This purchase order includes 6 SKUs comprising 2.5mg THC, 25mg THC, 12.5mg THC, and combined caplets with 2.5mg THC/12.5 mg CBD and 5mg THC/25 mg CBD. Already, Cann Global has received an import license from the Australian Government Health Department, but, Canntab is waiting for an Export license from Health Canada to ship and fulfill the order.
Canntab CEO Larry Latowsky said that the patent and the first order are major milestones confirming that the company’s formulations are different and unique from currently available products. Latowsky said that IP is at the root of the company’s value proposition, and the grant of the Australian patent confirms Canntab’s leading position for precise dosage.
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