|By Marketwired .||
|August 18, 2014 10:34 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/18/14 -- Cannabis Technologies Inc. (CSE:CAN)(OTCQB:CANLF) is pleased to announce the development of a therapy containing a proprietary mixture of cannabinoids and non-cannabis based active ingredients "CTI-091" for the relief of joint pain and swelling associated with arthritis and joint disease. Preliminary laboratory studies showed CTI-091 suppresses the human macrophage interleukin-6, a major biomarker of inflammation, indicating strong scientific evidence that cannabis extracts reverse the disease progression.
CTI-091 is designed to enhance retention and absorption of the key ingredients around the target site and designed for the relief of joint pain and swelling.
Currently the formulation is in preclinical stage of development. The company is also working to improve the delivery system to increase efficacy. We are expecting to go to initiate clinical phase 1 trials upon completion of these steps.
Craig Schneider, Cannabis Technologies President and CEO, says "We are extremely pleased to announce a second therapy in our expanding product pipeline. 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. This platform is designed to effectively identify and fast track new drug therapies. 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."
Pain & Arthritis Market
More than 46 million Americans have arthritis or a related disease, and some experts estimate the global market for arthritis drugs brings as much as $35 billion a year in profits. The many different types of drugs used to treat arthritis and its accompanying pain, includes over-the-counter and prescription-only drugs, with delivery methods of injections, infusions, patches and topical agents.
About Cannabis Technologies ("CTI")
CTI is a biopharmaceutical drug discovery and development company uniquely focused on the pharmacology and therapeutic potential of cannabinoids.
CTI is utilizing its proprietary "Cannabinoid Drug Design Platform" to identify new bioactive compounds within the marijuana plant that interact with certain gene responsible for specific diseases.
Our extensive research and intellectual properties will initially be focused on the development of several new cannabinoid based treatments for Ocular, Cancer & Angiogenesis, as well as Inflammation and Pain.
ON BEHALF OF THE BOARD
President and CEO
For further information, please visit the company's website at www.cannabis-tech.com
Forward Looking Statements
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Additionally, there are known and unknown risk factors which could cause Cannabis Technologies actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and Cannabis Technologies disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
These risks and uncertainties include, among others, the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results, risks associated with obtaining funding from third parties, risks related to the timing and costs of clinical trials and the receipt of regulatory approvals
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