CanniMed Therapeutics to License CTT Pharmaceutical's Orally Dissolvable Thin Film Wafer technology.
(C)2017 M2 COMMUNICATIONS
- Canadian cannabis biopharmaceutical company CanniMed Therapeutics Inc. (TSX: CMED) and CTT Pharmaceutical Holdings Inc. (OTCQB: CTTH) have entered into a definitive contractual relationship for the licensing of CTT's Orally Dissolvable Thin Film Wafer technolog, the companies said.
This collaboration includes the licensing of six patents related to cannabinoid and opioid delivery for pain management, which will enable CMED to exclusively develop and commercialise the smoke-free, drug delivery system in Canada.
Orally Dissolvable Thin Film Wafers are a proprietary drug delivery mechanism in the form of paper-thin polymer films used as carriers for pharmaceutical agents, with the following benefits:
ODF Wafer is taken orally but does not require water or swallowing. ODF Wafers dissolve quickly in the oral cavity (5-15 seconds) with the active ingredient rapidly absorbed and diffused into the dense network of capillaries for direct access to the bloodstream via the oral mucosa
The active ingredient, once absorbed, bypasses the liver's first-pass effect, improving therapeutic outcomes and efficacy through improves bioavailability and facilitates excellent patient compliance
ODF Wafer is suitable for a wide range of patients, including for geriatric and pediatric patients who experience difficulty swallowing or patients who suffer from Phagophobia (fear of swallowing) or Pnigophobia (fear of choking)
Following the execution of the Licensing Agreement, CTT was paid USD 40,000 by CMED. Upon issuance of the license from Health Canada to begin development of the OTF-cannabis wafer, CTT will be paid USD 935,000.
CTT will also receive a royalty of 5% based on gross sales. Additional payments will be made to CTT upon reaching certain milestones to be negotiated between the parties.
The cost of development and manufacturing (including capital expenditures) has yet to be determined.
CTT's principal asset is a novel patented drug delivery technology, an orally administered, fast dissolving thin film. This technology platform will target both the human and veterinarian markets for treatment of many diseases including pain management.
The Oral Thin Film (Wafer) formulation is protected by several Canadian and US Patents. CTT's oral fast dissolving drug delivery systems will consist of edible thin films (wafers) that dissolve without water, within a few seconds after placement in the mouth.
The majority of drugs administered using our drug delivery system mirror injections in that they have the ability to enter the bloodstream quickly, are convenient and discrete, and can be administered anywhere.
A faster absorption rate is achieved because the mouth contains a very thin mucosa and is extremely vascular.
There is no bitter taste, no smoke inhalation as is the case with cannabis, and less degradation of medication (by bypassing the stomach) and most importantly lower dosage units are required given the efficacy of absorption.
Patient compliance is improved, especially with those who have a fear of choking and/or are pediatric, geriatric or incapacitated patients who have difficulty swallowing.
The company is a Canadian-based, international plant biopharmaceutical company and a specialist in the Canadian medical cannabis industry, with 15 years of pharmaceutical cannabis cultivation experience, GMP-compliant plant production processes and research and development platforms with a range of pharmaceutical-grade cannabis products.
In addition, the company has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.
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|Date:||Feb 21, 2017|
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