Cannassure Therapeutics Ltd (TASE: CSURE) (“Cannassure”), an Israel based developer and producer of innovative medical cannabis products, announces today that the company was granted a patent for an oral delivery method of cannabis and cannabinoids compositions by the Israel Patents Authority.
The company’s innovative technology enables the provision of an exact amount of active ingredients through oral ingestion, using a high concentration of cannabinoids or medical cannabis extract in a homogeneous, uniform and stable formulation which can be administered in the form of oral capsules, syrups or buccal sprays.
Currently, the common methods of use for medical cannabis are by inhalation of smoke or vapor, or sublingual drops, and many patients are reluctant to use cannabis due to these methods.
Cannassure has been conducting experiments with the new delivery system for the last two years, and following the completion of the development, a patent application was submitted to the Israeli patents authority/ The patent was recently granted to Cannassure. The patent will be in force until July 14, 2040. The approval of the patent in Israel allows the company to file corresponding patent applications covering the innovative technology, in most countries of the world.
“The patent approval is significant for the medical cannabis market. We will be able to benefit broader medical needs, by making treatment options accessible, through innovative products that are tailored to medical needs that do not exist today,” says Dr. Hadile Ounallah-Saad, VP of R&D. Of Cannassure.
Ran Amir, Cannassure CEO, stated: “The patent approval gives us a competitive advantage in the global market of swallowable cannabis products. Currently the medical cannabis market is based on smoking inflorescence and oil for sub-lingual administration. The development of additional forms of administration and swallowable products constitutes a significant breakthrough, as they enable access to cannabis-based treatments for new patient populations who are not interested in consuming the products that currently exist on the market.
“Technological innovation in Cannabis products is expected to become the future growth engine for this market as it is anticipated to increase the number of patients and the number of doctors who will turn to this treatment option.”
Amir added that: “The next step for us is to receive a regulatory approval for testing the effectiveness of our products for pain relief in humans, followed by performing the clinical testing itself. This product development is in line with the company’s strategy for developing and commercializing a wide range of innovative medical cannabis products, based on the provision of proven pharmaceutical drug delivery systems to achieve high therapeutic values. Cannassure’s R&D team will continue to develop the product with the goal of bringing it to the Israeli and global market. We see this as a strategic goal, and the fulfillment of the company’s vision since its inception. ”
The market for medical cannabis products is expected to grow to $50 billion by 2025 and the pharmaceutical products market is expected to grow to about $5 billion by 2027, by current estimations.
The filing of the patent was carried out with the help of Patent Attorney Avraham Hermon of the firm JMB Davis Ben-David in Jerusalem.
Cannassure is engaged in the breeding, cultivating, processing, distribution and R&D of medical cannabis products.
SOURCE Cannassure Therapeutics Ltd