In late August 2016, CTT Pharmaceutical Holdings announced an agreement with CanniMed Ltd. to license an oral dissolvable thin-film-wafer drug delivery technology. The technology is to be developed as a smoke-free drug-delivery system for marijuana. The license will cover the North American markets (Canada and U.S.). The two companies entered into a Letter of Intent.
Orally Dissolvable Thin Film (ODF) Wafers are paper-thin polymer films that can be used as carriers for pharmaceutical agents, including Opioids for pain management. The drug is taken orally and does not require water or swallowing. They are especially suitable for geriatric and pediatric patients who experience difficulty swallowing. ODF Wafers dissolve quickly in the oral cavity (5-15 seconds), ensuring that the active ingredient is 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.
Upon execution of the Letter of Intent, CTT was paid [Content redacted, and available only to subscribers]
CanniMed is a leader in the Canadian cultivation and extraction of marijuana's active ingredient. It was the first producer to be licensed under the Marijuana for Medical Purposes Regulations (MMPR) in Canada and has a long-cultivation history through its parent company, Prairie Plant Systems Inc., who was the sole supplier for Health Canada's former medical-marijuana program. Prairie Plant Systems is the only Licensed Producer whose cannabis has already been used in two published clinical trials.
CTT is a struggling Canadian company with elusive revenue for whom the ODF is their principal asset. They target both the human and veterinarian (pet) markets for treatment of many diseases, including pain management. The wafer formulation is protected by several Canadian and U.S. Patents.
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