Emblem Corp. (TSX-V:EMC) (TSX-V:EMC.WT) (“Emblem”
or the "Company") and
Canntab Therapeutics Limited
(CSE:PILL) (“Canntab”) are pleased to announce the receipt of
Health Canada approval for research and development activities on
oral sustained release formulations of cannabinoids (the “Sustained
Release Product” or the “Product”), which are the proprietary
products conceived by Canntab representing significant progress in
Emblem and Canntab’s partnership to develop long-acting cannabis
formulations.
“Product innovation, new formulations and dosage forms are
critical pillars in Emblem’s competitive strength and growth
strategy. Our licence agreement with Canntab is an important
step in this direction. We believe that cannabis medications need
to be in precise, dose-controlled formats supported by
pharmacokinetic, dosing and clinical data to be most consistent,
effective, and broadly accepted by prescribers and their patients,”
said Nick Dean, President and CEO of Emblem. “We are thrilled that
Health Canada has approved the research and development phase of
our partnership with Canntab. The introduction of Canntab’s
sustained release formulation presents a significant growth
opportunity for Emblem.”
Canntab has brought development and processing equipment to
Emblem’s Paris, Ontario location and will begin making the first
pivotal batch of the Product this week using its patented
technology and proprietary processes. This initial batch will
undergo rigorous testing both internally by Emblem and Canntab and
externally by third-party laboratories. Upon achievement of the
Product‘s target design criteria, Emblem and Canntab intend to
submit a full dossier to Health Canada for review and
approval.
“The extended release tablet is the perfect pharmaceutical
dosage form. It’s a game changer for the medical community and
solves many problems for patients. We are excited to be working
with Emblem to bring this innovative product to market,” says
Jeffrey Renwick, CEO of Canntab.
Emblem and Canntab entered a collaboration and licensing
agreement (the “Agreement”) in October 2017 related to development,
regulatory approval, manufacturing, and commercialization of
Canntab’s patent-pending Sustained Release Product.
Emblem and Canntab intend to collaborate on the preclinical
formulation, clinical development, regulatory approval and
commercialization of a range of additional cannabinoid containing
pharmaceutical formulations.
Background on Cannabinoids
There is evidence that cannabinoids are effective for the
treatment of a number of conditions, including (i) chronic pain,
(ii) nausea, (iii) sleep disorders, and (iv) spasticity in patients
with Multiple Sclerosis.
Most conventional (immediate release) dosage forms, such as
tablets and capsules, release the active drug component immediately
after oral administration. In the formulation of conventional drug
products, no deliberate effort is made to modify the drug release
rate. Sustained release dosage forms are designed to
release the active pharmaceutical ingredient at a predetermined
rate in order to maintain a constant drug concentration over a
specific period of time – resulting in a longer duration of action
from a single dose and often with reduced side effects.
Generally, this is done to achieve an improved therapeutic outcome
and/or to enhance patient compliance. Immediate release dosage
forms of cannabinoids tend to lose therapeutic effects in 4 to 6
hours requiring subsequent re-administration and the risk of
reduced patient compliance.
Canntab’s Sustained Release Product is designed to release the
cannabinoid content over a period of at least 12 hours. Sustained
release formulations of pharmaceutical products are particularly
valuable in the treatment of chronic conditions, such as chronic
pain, where patients tend to need “around the clock” relief. There
is evidence that cannabis is effective for the treatment of
numerous conditions including neuropathic pain. Neuropathic pain is
estimated to affect over two million Canadians and the
pharmaceutical market addressing the needs of those patients was
about $500 million in 2016.
About Canntab
Canntab Therapeutics Limited is a Canadian cannabis oral dosage
formulation company based in Markham Ontario, engaged in the
research and development of advanced pharmaceutical
grade formulations of cannabinoids. Canntab has developed
in-house technology to deliver standardized medical cannabis
extract from selective strains in a
variety of extended/sustained release pharmaceutical
dosages for therapeutic use. Canntab's mission is to put the
"Medical" into medicinal cannabis. Canntab trades under the
ticker symbol PILL on the Canadian Securities Exchange.
About Emblem
Emblem Corp., through its wholly-owned subsidiary Emblem
Cannabis Corporation, is a fully integrated LP (licensed producer)
and distributor of medical cannabis and cannabis derivatives in
Canada under the ACMPR (Access to Cannabis for Medical Purposes
Regulations). Led by a team of cannabis experts and former health
care and pharma executives, it has three distinct verticals –
cannabis production, patient education centers, and pharmaceutical
dosage form development. Emblem trades under the ticker symbol EMC
on the TSX Venture Exchange.
For further information contact:
Jeffrey RenwickChief Executive OfficerCanntab Therapeutics
Ltd.289.301.3812jeff@canntab.ca
Cory PalaDirector, Investor RelationsEmblem
Corp.416.657.2400cory.pala@evestor.com
Ethan KarayannopoulosInvestor RelationsEmblem
Corp.647.748.9696ethank@emblemcorp.com
Alex Stojanovic Chief Financial Officer Emblem
Corp. 416.923.1331 alexs@emblemcorp.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking statements
This news release contains certain forward-looking statements
and forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
Canadian securities laws. All statements other than statements of
present or historical fact are forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "anticipate", "achieve", "could",
"believe", "plan", "intend", "objective", "continuous", "ongoing",
"estimate", "outlook", "expect", "may", "will", "project", "should"
or similar words, including negatives thereof, suggesting future
outcomes.
In particular, this news release contains forward-looking
statements relating to, among other things: (i) the Agreement
with Canntab; (ii) the benefits of the relationship with Canntab;
(iii) the potential market accessible through the arrangement with
Canntab; (iv) the receipt of Health Canada approval of the Product;
(v) the ability of the Company and Canntab to sell the Product to
the public; (vi) the ability of Canntab to protect the intellectual
property rights in the Product; (vii) the benefits associated with
cannabinoids for the treatment of illness and disease; and (viii)
receipt of approval from Health Canada to complete such
activities.
Management of the Company believes the expectations reflected in
such forward-looking statements are reasonable as of the date
hereof, but no assurance can be given that these expectations will
prove to be correct and such forward-looking statements should not
be unduly relied upon. Various material factors and assumptions are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking statements. Those material
factors and assumptions are based on information currently
available to the Company, including data from publicly
available governmental sources as well as from market research and
industry analysis and on assumptions based on data and knowledge of
this industry which Emblem believes to be reasonable. However,
although generally indicative of relative market positions, market
shares and performance characteristics, such data is inherently
imprecise. While Emblem is not aware of any misstatement regarding
any industry or government data presented herein, the medical
marijuana industry involves risks and uncertainties and is subject
to change based on various factors.
Forward-looking statements are not a guarantee of future
performance and are subject to and involve a number of known and
unknown risks and uncertainties, many of which are beyond the
control of the Company, which may cause the Company's actual
performance and results to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties
include, but are not limited to, the risks identified in the
Company's annual information form dated October 18, 2017 and
in the Company's short form prospectus dated January 29, 2018 both
of which have been filed with the Canadian Securities
Administrators and available on www.sedar.com. Any
forward-looking statements are made as of the date hereof and,
except as required by law, the Company assumes no obligation to
publicly update or revise such statements to reflect new
information, subsequent or otherwise.
Certain information contained herein is based on, or derived
from, information provided by independent third-party sources.
Emblem believes that such information is accurate and that the
sources from which it has been obtained are reliable. Emblem cannot
guarantee the accuracy of such information, however, and has not
independently verified the assumptions on which such information is
based. Emblem does not assume any responsibility for the accuracy
or completeness of such information.
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