Ontario, Canada-based Emblem Corp (TSVX: EMC) (EMC:WT) announced that it reached an agreement with Canntab Therapeutics Limited to license Canntab’s oral sustained release technology for cannabinoid extract medical products.
The agreement grants Emblem the exclusive right to market Canntab’s patents in Canada for use in Emblem products. The license does not include the right to export or import the product.
Currently, immediate release products last 4-6 hours. This technology will extend that to 12 hours, while potentially minimizing side effects associated with immediate release. This could result in a greatly improved relief for customers.
Cannabinoids are shown to be helpful in relieving symptoms of chronic pain, nausea, anxiety and sleep disorders, and spasticity in patients with multiple sclerosis.
Neuropathic pain affects up to two million Canadians, and the estimated market for pain relief is C$500 million in 2016.
Source: Emblem Corp