CTT Pharmaceutical Holdings and CanniMed Therapeutics Inc. complete exclusive Canadian licensing agreement for cannabis orally dissolvable thin film (ODF) wafer.
CanniMed Therapeutics Inc. and CTT Pharmaceutical Holdings Inc. have entered into a definitive contractual relationship for the licensing of CTT’s orally dissolvable thin film (ODF) wafer technology.
This industry-first collaboration includes the licensing of six patents related to cannabinoid and opioid delivery for pain management, which will enable CMED to exclusively develop and commercialize the novel, smoke-free, drug delivery system in Canada.
“The CanniMed ODF wafers will complement the already well-integrated line of CanniMed Oil products we have in market, broadening our ability to provide patients with standardized, dose-sensitive and discrete delivery systems,” said Brent Zettl, president and CEO, CanniMed Therapeutics Inc. “Collaborations with innovative companies such as CTT Pharma, and continued research and development into products that will further position medical cannabis as an important therapeutic option is a core focus of our company.”
Orally dissolvable thin film (ODF) wafers are a proprietary drug delivery mechanism in the form of paper-thin polymer films used as carriers for pharmaceutical agents, with the following benefits:
- ODF wafer is taken orally but does not require water or swallowing
- ODF wafers dissolve quickly in the oral cavity (5-15 seconds) with the active ingredient 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, improving therapeutic outcomes and efficacy through improves bioavailability and facilitates excellent patient compliance
- ODF wafer is suitable for a wide range of patients, including for geriatric and pediatric patients who experience difficulty swallowing or patients who suffer from Phagophobia (fear of swallowing) or Pnigophobia (fear of choking)
“We are excited to announce the completion of our agreement with CanniMed Therapeutics; this is an excellent opportunity for us to marry our novel and patented delivery technology to CanniMed’s industry leading presence in the medical cannabis sector,” said Dr. Pankaj Modi, president and CEO, CTT Pharmaceutical Holdings. “We look forward to offering CanniMed’s existing patient population our convenient, smoke-free drug delivery system, which will help patients to take precise and accurate doses of cannabinoids as prescribed for pain management, mental disorders like depression, anxiety, post-traumatic stress disorder and a reduction in epileptic seizure syndromes in children. As the industry continues to grow and evolve we feel that we have chosen the right partner to introduce our product, tailor it to specific indications and to scale throughout Canada.”
Following the execution of the licensing agreement, CTT was paid US$40,000 by CMED. Upon issuance of the license from Health Canada to begin development of the OTF-cannabis wafer, CTT will be paid US$935,000. CTT will also receive a royalty of 5 percent based on gross sales. Additional payments will be made to CTT upon reaching certain milestones to be negotiated between the parties.
The cost of development and manufacturing (including capital expenditures) has yet to be determined.
(Source: Business Wire)
Filed Under: Drug Discovery