CINCINNATI, OH / ACCESSWIRE / April 25, 2019 / Callitas Health Inc., (CSE: LILY, OTCQB: MPHMF, FWB: T3F3), (the "Company" or "Callitas") a clinical-stage pharmaceutical development, OTC consumer goods sales & marketing and cannabis delivery development company, today announced its Notice of Allowance for U.S Application Serial Number 16/350,351 from the U.S. Patent and Trademark Office (USPTO) for a new patent on a novel, biphasic oral "candy" that delivers tetrahydrocannabinol (THC) and cannabidiol (CBD) through oral absorption and gut metabolism. A Notice of Allowance is issued after the USPTO determines that a patent can be granted from the company's patent application, filed in November 2018.
"This recent Notice of Allowance positions Callitas as an even stronger innovator in the cannabis pharma delivery & consumer goods markets, protecting a new and very exciting technology," said James Thompson, CEO of Callitas. "This patent Notice of Allowance, along with our other pending patent applications in our cannabis pharma delivery and consumer goods portfolio, combined with our newly developed and expanding partnerships in the cannabis space is expected to create significant value for our shareholders."
The Notice of Allowance for this new patented delivery technology is one of the six patent-pending (now five pending) technologies the company acquired early October of 2018 from Ronald J. Thompson, MD. The company signed a definitive patent acquisition and licensing agreement to obtain the portfolio patents in exchange for a royalty on sales for commercialized products which cover various novel cannabis delivery technologies. These include orally dissolving muco-adhesive films for superior bioavailability, sustained release cannabis effect, and a combination of both. The agreement also includes products for the appropriate individual controlled dosing of CBD and/or THC for the legal, adult use and medical marijuana markets.
Don Halgren, Esq, Dr. Thompson's long-time advisor and patent attorney noted: "We are excited to receive this early Notice of Allowance on this first patent in Dr. Thompson's cannabis delivery portfolio of patent applications. With the other five patents pending along with the additional patent applications for new technologies we are also working on, I expect Callitas to have a strong IP portfolio into the foreseeable future."
"Each new patent granted and licensed takes Callitas to the next level in the cannabis industry, showing the company's legitimacy and strength in creating and producing cannabinoid delivery products," said Chief Medical Cannabis Advisor Dr. Gregory Smith, MD, MPH. "The Callitas team continues to bring innovative technologies to market, including controlled dosing, improved bioavailability and advanced manufacturing techniques."
About Callitas Health
Callitas Health Inc. is a clinical-stage pharmaceutical development, OTC consumer goods marketing and cannabis delivery development company, focused on developing innovative technologies for weight management, female sexual health and wellness, cannabis delivery technologies and other proprietary drugs. For more information, visit www.callitas.com.
For more information contact
James Thompson, CEO, or
Callitas Investor Relations
Investor Relations - Kevin McGrath, Managing Director
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the regulatory approval and the commercialization of the rights to the Company's biomedical & drug technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com and the Company's filings to the CSE at www.thecse.com. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
Notice regarding investigational devices: CannaMint Strips, C-103 and Extrinsa are investigational drugs or devices and are not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of these devices have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body. Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.
SOURCE: Callitas Health Inc.