Source: Chris Parry, Stockhouse.com Aug 19 2014
The Canadian microcap biotech play with an increasing US following had announced its first therapy, relating to the relatively small glaucoma market, in late June, and rode a rapid stock price rise as a result.
But the arthritis therapy, once proved out, will appeal to a potential market that makes glaucoma pale in comparison. With arthritis drugs presently bringing around $35b a year in profits alone globally, even a small toehold in that market will be a gamechanger.
President and CEO Craig Schneider is happy with the news, but is happier still that it reinforces what the company has been promising since the outset; a steady stream of biomed IP therapies that are fast tracked in their discovery and development, using technology only they have.
He said Monday, the “pain and arthritis therapy takes our company to the next stage of development, reinforcing the proof of concept of our Cannabinoid Drug Design Platform.”
That platform, developed by Dr. Sazzad Hossain, Ph.D., M.Sc., utilises existing knowledge of the active and non-active ingredients in existing therapies and identifies what elements of cannabis can be used to recreate those properties, often in a more effective format.
“This platform is designed to effectively identify and fast track new drug therapies,” says Schneider. “The company plans to have numerous therapies over the next 12 months within the product pipeline focusing on other areas, like metabolic diseases (Obesity & Diabetes), Orphan diseases (Huntington’s & Epilepsy) as well as Cancer and Angiogenesis.”
The company, which sits on just an $11m market cap at the time of writing, has been a regular feature on US and Canadian TV over the past several weeks, with renowned advocate Cheryl Shuman supporting the work of the firm.
The Cannabis Tech website notes that its first therapy formula, CTI-085, “Is a topical formulation containing a proprietary compound of cannabinoids and non-cannabis based active ingredients for the treatment of Glaucoma. […] Cannabinoids have intraocular pressure lowering effects, thus, they have therapeutic potential in the treatment of glaucoma.”
The company objective for that therapy was “to develop a safer; cannabis based topical anti-glaucoma formulation without systemic side effects.”
CTI-091, the new therapy aimed at arthritis pain, follows similar lines of discovery. According to the company, “Preliminary laboratory studies showed CTI-091 suppresses the human macrophage interleukin-6, a major biomarker of inflammation. We are currently developing an innovative new delivery system to enhance retention and absorption of the key active ingredients around the target site to relieve joint pain and swelling. “
Schneider says there’s more to come, and that the ‘junior GW’ is only now beginning to see just how effective its technology is.
“Further validation of the effectiveness of our Cannabinoid Drug Design Platform with our 2nd Therapy CTI-091, reinforces our position as a serious up and comer in the world arena of Cannabis based drug research and development.”
Cannabis Technologies stock was up 4.5% in early trading and remains in my top five most promising medical marijuana plays.
FULL DISCLOSURE: Cannabis Technologies is a Stockhouse Publishing client, but has not paid for this article. The author also holds a small amount of C.CAN shares in his personal portfolio.
Read more at http://www.stockhouse.com/news/newswire/2014/08/18/cannabis-technologies-c-can-knocks-out-more-cannabinoid-biotech-ip#Rp54Rbv3kkqBR71f.99