|By Marketwired .||
|June 24, 2014 06:05 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/24/14 -- Cannabis Technologies Inc. (CSE: CAN)(OTCQB: CANLF) is pleased to announce its first therapy, CT1-085, which is a topical formulation containing a proprietary compound of cannabinoids and non-cannabis based active ingredients for the treatment of Glaucoma.
Cannabis Technologies Inc. has identified our lead composition (CTI 085) through 12 months of discovery and preclinical studies that showed efficacy in lowering intraocular pressure (IOP) in animal models. Cannabinoids have IOP lowering effects, thus, they have therapeutic potential in the treatment of glaucoma. Dr Hossain, Chief Scientific Officer states, "Our objective was to develop a safer; cannabis based topical anti-glaucoma formulation without systemic side effects. We are pleased to have successfully completed our pre-clinical trials which are in the process of the clinical development of the formulation".
Craig Schneider, President & CEO states, "The successful discovery & development of CTI-085 demonstrates to the market that our proprietary Cannabinoid Drug Design Platform (CDP) can successfully identify treatments within our proposed target areas. We are looking forward to the continuation of expanding our product pipeline through the utilization of our Platform Technology."
Ophthalmic Drugs Market (Dry eye, Anti-glaucoma, Anti-allergy/ inflammatory/ infective, Retinal Drugs) - the global ophthalmic drugs market was valued at USD 16 billion in 2012 and is expected to grow at a CAGR of 5.2% from 2013 to 2018, to reach an estimated value of USD 21.6 billion in 2018. Globally, the ophthalmic drugs market is witnessing significant growth due to increasing prevalence of eye disorders such as diabetic retinopathy and macular degeneration. As a result, this market is expected to grow at a CAGR of about 5.2% during 2013 - 2018. Some of the key driving factors for the ophthalmic drugs market are rising prevalence of global aging population, increasing government initiatives towards healthcare infrastructure in developing countries (such as India and China), technological changes in drug delivery technique, and increasing prevalence of lifestyle associated diseases.
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 genes responsible for specific diseases.
Our extensive research and intellectual properties will initially be focused on the development of several new cannabinoid based treatments for Ophthalmic, Cancer & Angiogenesis, and Inflammation, Pain.
ON BEHALF OF THE BOARD
Craig Schneider, 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
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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