SEATTLE, June 06, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced publication of an article covering Canntab Therapeutics Ltd. (CSE:PILL) (CNSX: PILL ) (PILL.CN) and its Canntab XR cannabinoid tablets that offer pharmaceutical-grade formulation to help doctors and patients control their dosing, as well as help researchers better study the drug in clinical trials. The company is pioneering this work in a new Australian joint venture that investors may want to note when looking for investment opportunities in the medical space.
Many countries are starting to recognize the medical benefits of cannabis. In Australia, Ireland, Germany, and the Philippines, major legislation and fast tracking policies have been introduced that could open up the market. The problem is that the industry has struggled to introduce products that the Australian medical industry or other governments can approve or endorse since they’re not formulated or studied like typical pharmaceutical drugs.
Australia’s Market
Australia has one of the highest cannabis prevalence rates in the world with about one-third of citizens over the age of 22 having tried the drug. While prohibition has been in place for several decades, much like the rest of the developed world, the government has long avoided the punitive drug policies enacted by the United States and its Asian neighbors. Legislation has also been recently introduced that supports the cannabis movement.
On February 24, 2016, the country legalized medical cannabis at the federal level, which put it closer to Canada in terms of being a pioneer in the space. The Office of Drug Control in the Federal Department of Health issued its very first cannabis research license about a year later under the medicinal cannabis provisions of the Narcotics Drugs Act of 1967. The move paves the way to make the country a key researcher of cannabinoid-based drugs.
The country also became the fourth country in the world to allow the export of cannabis-based therapies in January of 2018. The move allows the country to produce oils, lozenges, sprays, and pills that can be sold overseas into lucrative Asian and European markets. Some of the most promising end markets include South America, Spain, Canada, and Germany. This could make the country one of the largest cannabis exporters in the world.
Canntab’s Tablets
Canntab Therapeutics’ proprietary Canntab XR extended release tablets make it easier for physicians and patients to manage dosage and ensure a consistent experience. In addition, the tablets are easier to administer in any environment, eliminate the social stigma of cannabis, and do not have the adverse side effects associated with inhaled cannabis. The extended release nature of the product also enables patients to experience a relief over a long period of time.
In dissolution studies, the tablets demonstrated a 12 to 18 hour duration of action from a single dose. These time periods cannot be achieved using other delivery mechanisms, such as inhalation (smoking or vaping) or edibles. The tablets are available in many different unique formulations that target various medical conditions with 2.5mg, 5mg, and 10mg doses, enabling patients to effectively titrate with full knowledge and awareness of their intake.
The tablets are ideal for youth and elderly patients given their ease of portability and storage compared to other forms of medical cannabis. In addition, they are designed to specifically regulate the percentages of cannabinoids and terpenes depending on the needs of the patient. For example, patients that require high CBD concentrations or chemotherapy appetite restoration patients that require high THC will have consistent options.
Joint Venture
Canntab Therapeutics recently announced a joint venture with Queensland Bauxite Limited subsidiary Medical Cannabis Limited (VitaCann). Under the terms of the joint venture, VitaCann will be responsible for the first $1 million in costs with the remaining expenses being split 50/50. All profit will be split equally between the two partners and the JV will attempt to distribute the products both in Australia and throughout Asia.
While there is a lot of anecdotal research supporting medical cannabis, the missing link has always been the ability to conduct legitimate trials using a lawful source of whole plant extract rather than a single natural cannabinoid or synthetic analogue. The joint venture will seek to complete the missing link by collaborating on preclinical formulations, development, regulatory approval, and commercialization of prescription cannabis drugs in Australia.
Most new drugs take five to ten years to reach the market at a cost of hundreds of millions of dollars, but the Australian government has already started to fast-track imports, develop new policies, and make public announcements related to cannabis exports. These are positive developments that could pave the way for faster and cheaper clinical trials, especially given the anecdotal safety and efficacy of the drug across a wide patient demographic.
Looking Ahead
Canntab Therapeutics Ltd.’s (CSE:PILL) partnership with Queensland Bauxite Limited subsidiary Medical Cannabis Limited (VitaCann) represents a strong move into the Australian and Asian markets that investors may want to note.
“We’re excited about the new Australian export laws and our collaboration with VitaCann and MCL in Australia,” said Canntab Therapeutics Ltd. CEO Jeff Renwick. “It is a testament to the forward thinking of MCL and the medicinal delivery technology developed by our team at Canntab. Canntab’s patent-pending extended release formulation, for the first time, lets doctors understand the actual products and establish the appropriate dosage for their patients.”
For more information, visit the company’s website at www.canntab.ca .
Please follow the link to read the full article: http://www.cannabisfn.com/canntab-advancing-c...australia/
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