Callitas Health, Inc., Signs a Definitive Patent Technology Assignment Agreement to Acquire Additional Novel Cannabis Dosing Technologies
CINCINNATI, OH / ACCESSWIRE / October 2, 2018 / Callitas Health Inc. (CSE: LILY, OTCQB: MPHMF, FWB: T3F3), (the ″Company″ or ″Callitas″) an integrated clinical-stage pharmaceutical development, OTC consumer goods marketing and cannabis delivery development company, today announced that it signed a definitive Patent Technology Assignment Agreement with Ronald J. Thompson, MD to expand its cannabis delivery technology portfolio. The new intellectual property acquired (four separate patent applications) will cover various novel oral and ingestible products including those for orally dissolving immediate cannabis effect, sustained release cannabis effect, and a combination of both. It will also cover products for the appropriate individual controlled dosing of CBD and/or THC for the legal, adult use and medical marijuana markets.
″Using our clinically-proven delivery technology, pharmaceutical development and intellectual property experience, we have developed and acquired multiple new patent applications that define and protect a continuum of novel advanced cannabis dosing technologies,″ said Callitas CEO, James Thompson. ″These new delivery and dosing technologies will create a new platform of products for both the legal, medical and adult-use cannabis markets. We will apply pharmaceutical best practices to the cannabis markets in developing products with the newly acquired technologies.″
″The potential benefits of these types of products is immense,″ said Chief Medical Cannabis Advisor, Dr. Gregory Smith MD, MPH. ″The team at Callitas has been focused on acquiring and bringing innovative technologies to the market, and these new proprietary products fit right into the Company’s mission of bringing pharmaceutical best practices to the cannabis space through controlled dosing, improved bioavailability and advanced manufacturing techniques.″
The agreement with Dr. Thompson provides for full assignment of the intellectual property rights, including patents pending, any patents to be filed in the future and any/all trade secrets and proprietary information, in the Cannabis dosing space, to Callitas Health Inc., in exchange for a high single-digit royalty on Net Sales or Net Proceeds from the assigned/licensed technology.
About Ronald J. Thompson, MD: Dr. Thompson has brought a patient-first mindset to all his endeavors. Improving patient outcomes has been the driving force behind all of Dr. Thompson’s inventions, developments and patient care in the last 40 years. He has been a member of the American Fertility Society since 1988 and is also a Fellow of the American College of Obstetricians and Gynecologists and a Diplomat of American Board of Obstetrics and Gynecology. Dr. Thompson holds more than 40 issued U.S. medical device, drug and drug delivery patents.
About Callitas Health: Formed in early 2015, Callitas Health Inc. is an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, focused on developing innovative technologies for weight management, female sexual health and wellness, cannabis delivery technologies and other proprietary drugs. 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 ), and is in the research and development and business development process for its other OTC products, cannabis dosing technologies and orphan drug technologies. For more information visit www.callitas.com.
James Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131
Investor Relations - Kevin McGrath, Managing Director
Phone: +1 (646) 418-7002
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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.
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SOURCE: Callitas Health, Inc.