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Message: Announces Favourable Decision From United States Patent and Trademark Office

Announces Favourable Decision From United States Patent and Trademark Office

posted on May 25, 2009 07:55AM
May 25, 2009
Cannasat Therapeutics Announces Favourable Decision From United States Patent and Trademark Office
TORONTO, ONTARIO--(Marketwire - May 25, 2009) - Cannasat Therapeutics (TSX VENTURE:CTH) ("Cannasat" or the "Company") is pleased to announce today that the United States Patent and Trademark Office ("USPTO") has issued a Notice of Allowance for a U.S. Patent Application which forms the basis for Cannasat's lead product, Relivar. Cannasat is the exclusive licensee of the patent application. It is expected that in a few months the corresponding U.S. Patent will issue. Patents have already been obtained on this technology in Europe.

The newly allowed patent application relates to Cannasat's proprietary technology which provides for the effective drug absorption of dronabinol in the buccal cavity via a tablet. The claims broadly encompass the active complex, a pharmaceutical composition containing the same, and a method of treating patients for a variety of indications where dronabinol is known to be efficacious, including pain and nausea. Relivar will be the first commercial project developed based on this patent application. This patent application, along with formulation partner IntelGenx's proprietary tablet system, Adversa, is expected to form the basis for a strong intellectual property protection platform for Relivar.

On April 14, 2009, Cannasat reported positive results from a Phase 1 pharmacokinetic study. Relivar delivered twice the amount of dronabinol into the bloodstream versus the reference drug (as measured by AUC). The randomized, single dose, double crossover study compared Cannasat's Relivar to the reference oral dosage form of dronabinol at 2.5 mg in healthy volunteers. Relivar was well-tolerated with no adverse events noted in this study. Relivar met its primary goal of delivering a greater dose of the drug through the buccal mucosa versus the reference compound, which is swallowed and has an intestinal absorption mechanism. Relivar also showed nearly a 50% reduction in the ratio of 11-OH-THC to the parent drug versus oral dronabinol in the same subjects. Literature suggests that the 11-OH-THC metabolite, which is also a marker of absorption in the gut, is responsible for the pronounced central nervous system adverse events of the reference drug. Relivar also showed an extended absorption profile which may be advantageous for more convenient dosing.

David Hill, Cannasat's Chief Executive Officer and Founder, commented, "We are pleased that the USPTO has allowed this pivotal patent application that offers strong IP protection to our Relivar program. The broad claims are designed to protect this unique composition of matter that allows us to develop Relivar as an innovative and new pharmaceutical product. We believe the intellectual property protection established by this patent will protect Relivar from direct competition and significantly enhance our ability to form strong development collaborations with potential partners."

About Cannasat Therapeutics

Cannasat is a clinical stage pharmaceutical company developing products to treat neurological disorders such as neuropathic pain and schizophrenia. Cannasat currently has two new drugs in its pipeline: Relivar and Modulyn. Over the next 12 months Cannasat plans to advance Relivar and Modulyn with further clinical testing and is positioning itself to enter marketing agreements with select Pharma partners. Pharma collaborations will create a pathway towards the future commercialization of these products, as well as provide important new investment to develop a pipeline of additional CNS/neurology product candidates. More information about Cannasat (TSX VENTURE:CTH) is available at www.cannasat.com.
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