CINCINNATI, OH, USA (November 9, 2017) – Callitas Health Inc. (CSE: LILY, OTCBB: MPHMF, FWB: T3F2), (the “Company” or “Callitas”) a clinical-stage company developing innovative technologies for weight management and female health and wellness, today announced that it has received confirmation from the United States Patent and Trademark Office (USPTO) of the pending patenting status for recently submitted technology for the bioavailability of cannabinoids branded as CannaMint Strips by Callitas.
The latest Callitas technology formally titled as “Orally Dissolving Mucoadhesive Films Utilizing Menthol And L-Arginine To Enhance The Bioavailability of Cannabinoids” provides a unique opportunity for cannabis/CBD distributers looking to in-license our technology to differentiate themselves in an increasingly competitive marketplace.
“Our Callitas patented and patent pending combination of Menthol and L-Arginine has provided a unique foundation to advance the delivery of cannabis technology”, said James Thompson, Callitas COO and co-inventor for this patent technology. “The direct distribution of cannabinoids does not fit into our Callitas business model, but licensing this technology to manufacturers and distributors in North America advances our goal of improving health and wellness,” added Mr. Thompson.
The Company also announced that it has recently issued 750,000 options pursuant to its stock option plan to officers, directors and consultants. These options are exercisable at $0.40 for a period of 5 years from issuance.
Callitas Therapeutics Technology
Callitas Therapeutics Inc. is the global owner of patented and patent pending technology related to the use of compositions that include menthol and L-arginine; US Patent Nos. 6,989,163, 6,702,733 and 6,322,493 and corresponding international patents. Recently the Company’s work and research has developed an orally dissolving mucoadhesive copolymer matrix of menthol, l-arginine, and one or more cannabinoids, such as THC or CBD, for the enhanced pharmacokinetic bioavailability of the cannabinoids. The orally dissolving menthol and l-arginine functions to provide enhanced cannabinoid bioavailability, while avoiding first pass liver breakdown of inhaled or ingested cannabinoids.
The orally dissolving thin-strips have menthol and l-arginine formulated into their matrix, and will include a microporous, porous, or even honeycomb design to absorb cannabinoids; CBD cannabinoid oil (non-psychoactive) applied for medicinal use, and THC cannabinoid oil (psychoactive) applied for medical or recreational use (where applicable). The legal intrastate recreational use of THC cannabinoid oil with increased bioavailability could compete with illegal oral and injectable opioids without the risk of respiratory depression and drug overdose deaths.
About Callitas Health
Formed in early 2015, Callitas Health Inc. is a clinical-stage company developing innovative technologies for obesity, weight management and female health & wellness. In addition to its recent acquisitions of C-103, a reformulation of Orlistat, Extrinsa and assets from 40J’s LLC, the Company successfully launched ToConceive in North America as a clinically proven option for couples struggling with the inability to conceive. www.toconceive.com.
Callitas Health Inc. trades on the Canadian Securities Exchange (CSE) under the ticker symbol “LILY” as well as on the OTCQB as “MPHMF” and FWB (Frankfurt Stock Exchange) as “T3F2.”
For more information contact:
Gary Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the regulatory approval and the commercialization of the rights to the Company’s biomedical & drug technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com and the Company’s filings to the CSE at www.cnsx.ca. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
Notice regarding investigational devices: CannaMint Strips, C-103 and Extrinsa are investigational drugs or devices and are not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of these devices have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body.
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.