CINCINNATI, OH, May 24, 2018 (GLOBE NEWSWIRE) -- Callitas Health Inc. (CSE: LILY, OTCQB: MPHMF, FWB: T3F2), (the “Company” or “Callitas”) an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, announced today that it has signed an Exclusive Development and Intellectual Property Agreement for its patent-pending CannaMint Strips. The Company has contracted with a confidential OTC pharmaceutical development and custom packaging company to help develop, contract manufacture and package the Company’s CannaMint Strips for worldwide distribution. The confidential OTC pharmaceutical company already has patented and patent-pending substrate technology for extended release oral films that will further enhance the Callitas patent-pending delivery.
The proprietary, patent and trademark-pending CannaMint strips for THC (Tetrahydrocannabinol) and CBD (Cannabidiol) provide a unique opportunity for Callitas to position itself in the cannabinoids market. “Our patented and patent-pending technologies have the potential to be game-changers as delivery mechanisms for CBD and THC,” said James Thompson, Callitas’ Interim President and CEO.
In addition to the signed agreement, the Company has filed additional trademarks for CannaStrips and CanRelief. “Trademark protection for our additional cannabis-related products not only protects our technology, but our shareholder’s investment and long-term value as well,” Mr. Thompson said.
“These developments, combined with the addition of Dr. Gregory Smith, MD, MPH as Chief Medical Cannabis Advisor, make us a competitor in the dynamic and ever-changing THC/CBD [cannabinoids] market,” said Mr. Thompson. “These next steps are integral in increasing our visibility, viability and longevity in the industry.”
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, CannaMint strips and orphan drug technologies. For more information visit www.callitas.com.
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.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.