CVSI Huge News Weed Play! CV Sciences, Inc. Rec
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Posted On: 05/20/2020 9:50:20 AM
CVSI Huge News Weed Play!
CV Sciences, Inc. Receives Formal Notice of Patent Issuance from USPTO for Proprietary Cannabidiol (CBD) and Nicotine Formulation for Treating Smokeless Tobacco Addiction
8:00 am ET May 20, 2020 (Globe Newswire) Print
CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"
, a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, today announced that on May 19, 2020, the Company received its formal Notice of Issuance from the U.S. Patent and Trademark Office (USPTO) for its patent application 15/426,617.
The patent covers methods of treating smokeless tobacco addiction by administering pharmaceutical formulations containing CBD and nicotine. The communications between the USPTO and the Company conclude substantive examination of the patent application, resulting in formal issuance of the patent. CV Sciences has also filed corresponding patent applications that will allow the Company to seek similar patent protection in other key markets throughout the world.
The worldwide smokeless tobacco addiction treatment market is estimated at greater than $2 billion and provides another important long-term growth channel for CV Sciences, in addition to the Company's consumer product segment.
"USPTO's patent issuance demonstrates that our proprietary technology, the first-of-its-kind treatment for smokeless tobacco addiction, is based on unique science backed by years of research and development," said Joseph Dowling, Chief Executive Officer, CV Sciences. "This intellectual property positions CV Sciences to derive significant value from our development efforts with an important therapeutic drug that has the potential to transform healthcare given the public health, societal and economic damage caused by nicotine addiction. With this patent, our years of investment, research and hard work is now validated, and we are well positioned and proud to take the next steps towards bringing to market an innovative solution to address a huge unmet medical need and global health issue."
Dowling continued, "The validation of patent protection provides CV Sciences with significant flexibility in moving this drug program forward, including potential co-development with a strategic and/or financial partner, as well as drawing on existing company resources to finance our drug development activities."
CV Sciences, Inc. Receives Formal Notice of Patent Issuance from USPTO for Proprietary Cannabidiol (CBD) and Nicotine Formulation for Treating Smokeless Tobacco Addiction
8:00 am ET May 20, 2020 (Globe Newswire) Print
CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"
, a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, today announced that on May 19, 2020, the Company received its formal Notice of Issuance from the U.S. Patent and Trademark Office (USPTO) for its patent application 15/426,617. The patent covers methods of treating smokeless tobacco addiction by administering pharmaceutical formulations containing CBD and nicotine. The communications between the USPTO and the Company conclude substantive examination of the patent application, resulting in formal issuance of the patent. CV Sciences has also filed corresponding patent applications that will allow the Company to seek similar patent protection in other key markets throughout the world.
The worldwide smokeless tobacco addiction treatment market is estimated at greater than $2 billion and provides another important long-term growth channel for CV Sciences, in addition to the Company's consumer product segment.
"USPTO's patent issuance demonstrates that our proprietary technology, the first-of-its-kind treatment for smokeless tobacco addiction, is based on unique science backed by years of research and development," said Joseph Dowling, Chief Executive Officer, CV Sciences. "This intellectual property positions CV Sciences to derive significant value from our development efforts with an important therapeutic drug that has the potential to transform healthcare given the public health, societal and economic damage caused by nicotine addiction. With this patent, our years of investment, research and hard work is now validated, and we are well positioned and proud to take the next steps towards bringing to market an innovative solution to address a huge unmet medical need and global health issue."
Dowling continued, "The validation of patent protection provides CV Sciences with significant flexibility in moving this drug program forward, including potential co-development with a strategic and/or financial partner, as well as drawing on existing company resources to finance our drug development activities."
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