Canntab Therapeutics Ltd (CSE:PILL) has unveiled a major milestone – as the firm along with partner Emblem Corp (CVE:EMC) have received Health Canada approval for research and development activities on oral sustained release formulations of Canntab’s cannabinoids product, sending shares higher.
Canntab has brought equipment to Emblem’s Ontario location and will begin making the first pivotal batch of the product this week, using its patented technology and proprietary processes.
The pair struck a collaboration and licensing deal in October last year related to development, regulatory approval, manufacturing, and commercialisation of Canntab’s patent-pending sustained release product.
“The extended release tablet is the perfect pharmaceutical dosage form,” said Jeffrey Renwick, chief executive at Canntab.
“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.”
Evidence suggests that cannabinoids are effective for treating a number of conditions, including chronic pain, nausea, sleep disorders, and for symptoms of multiple sclerosis.
Designed to release cannabinoid content over at least 12 hours
Most conventional dosage forms release the active drug immediately after oral administration.
But in sustained release forms, the active pharmaceutical ingredient is released 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.
Canntab’s product is designed to release the cannabinoid content over a period of at least 12 hours, which is particularly valuable in the treatment of chronic pain conditions.
Emblem chief Nick Dean said: “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.”
Shares in Canntab added over 7% to C$0.90.