PARIS, Ontario, Oct. 03, 2017 (GLOBE
NEWSWIRE) -- Emblem Corp. (TSXV:EMC) (EMC.WT) (“Emblem” or the
"Company") announced today that it has entered into a Collaboration
and Licensing Agreement (the “Agreement”) with Canntab Therapeutics
Limited (“Canntab”) of Toronto. Canntab has developed a
patent-pending oral sustained release formulation for cannabinoids
(the “Sustained Release Product” or the “Product”). Under the
Agreement, Emblem and Canntab will collaborate on the preclinical
formulation, clinical development, regulatory approval,
manufacturing and commercialization of the Sustained Release
Product.
The Agreement grants to Emblem the
exclusive right in Canada to Canntab’s patents and know-how for the
purpose of developing, commercializing, using, selling, and
offering the Sustained Release Product for sale under the Emblem
brand. The License does not include the right to import or export
the Product.
The Sustained Release Product will be
manufactured by Emblem or by Canntab, after Canntab receives
appropriate licensing allowing such manufacture.
The Agreement calls for Emblem to make
payments to Canntab upon achievement of certain milestones
involving stability studies, bio-availability studies and
regulatory approval of the Sustained Release Product. The Agreement
also calls for Emblem to make royalty payments to Canntab based
upon Gross Sales of the Product.
Emblem and Canntab also intend to
collaborate on the preclinical formulation, clinical development,
regulatory approval and commercialization of a range of additional
cannabinoid containing pharmaceutical formulations.
Background
There is substantial evidence that
cannabinoids are effective for the treatment of a number of
conditions including (i) chronic pain (ii) nausea, (iii) anxiety
and 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.
The 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 substantial 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.
John H Stewart – Head of Emblem’s
Pharmaceutical Division said: “There are numerous examples of drug
products where the utilization of advanced dosage forms such as
sustained and/or modified release dosage forms significantly
improved the efficacy and clinical utility of the active drug
substance. We believe that cannabinoid therapy will be advanced via
the development of such dosage forms and the associated
pharmacokinetic and clinical research. Sustained release
formulations of pharmaceutical ingredients that are otherwise
short-acting (such as cannabinoids) have more convenient
dosage schedules, a longer duration of action and tend to be
much more accepted by patients and healthcare professionals.
Emblem expects that the introduction of easily titratable,
sustained release formulations of cannabinoids will materially
increase the market for cannabinoid-based medications, particularly
for treatment of conditions such as chronic neuropathic pain.”
Jeff Renwick, Canntab CEO said:
“We’re excited about the collaboration between us and Emblem.
It is a testament to the medicinal delivery technology
developed by our team at Canntab. It also allows us to bring to the
Canadian market a significant advancement in Cannabis based
medicine. Canntab’s patent-pending extended release formulation for
the first time lets doctors establish the appropriate dosage for
their patients and will make taking medicinal cannabis easier for
patients, which should translate into higher patient compliance,
making for more effective treatment. The ongoing relationship with
Emblem allows for further development of our unique platforms,
advancing our mission to put the “medical” into medicinal
cannabis.”
Gordon Fox, CEO of Emblem said: “We are
very excited about our relationship with Canntab. We expect the
Sustained Release Product to have a major impact on the Canadian
medical cannabis market. We are also looking forward to
further collaborations with Canntab to bring other ground-breaking
cannabis based advanced dosage forms to the market.”
About Emblem
Emblem is licensed under the Access to
Cannabis for Medical Purposes Regulations (the “ACMPR”) to
cultivate and sell medical marihuana. Emblem carries out its
principal activities producing marihuana from its facilities in
Paris, Ontario pursuant to the provisions of the ACMPR and
the Controlled Drugs and Substances Act (Canada)
and its regulations.
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. Simply put, Canntab's mission is
to put the "Medical" into medicinal cannabis!
For further information
contact:
Ali Mahdavi
Emblem Corp.
(416) 962-3300
alimahdavi@emblemcorp.com
Ethan Karayannopoulos
647-748-9696
ethank@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.
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 arrangement and Agreement with
Canntab; (ii) the benefits of the relationship with Canntab; (iii)
potential sales of oil and the value thereof; (v) the ability of
the Company to produce high quality dried flower; (vi) the
intention to grow the business, operations and potential activities
of the Company; (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 filing statement dated
November 30, 2016 and in the Company's short form prospectus dated
March 16, 2017 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.
This news release contains
future-oriented financial information and financial outlook
information (collectively, "FOFI")
about Emblem'sprospective results of
operations, sales,
revenues, funds flow, and components thereof, all of
which are subject to the same assumptions, risk factors,
limitations, and qualifications as set forth in the above
paragraphs. FOFI contained in this news
release was made as of the date of this document and
was provided for the purpose of providing further information
about the Company's future business
operations. The Company disclaims any
intention or obligation to update or revise any FOFI contained in
this news release, whether as a result of
new information, future events or otherwise, unless required
pursuant to applicable law. Readers are cautioned that the FOFI
contained in this news release should
not be used for purposes other than for which it is disclosed
herein.