Emblem Corp. (TSXV:EMC) and Canntab entered into a collaboration and licensing agreement in 2017 for development and commercialization of Canntab’s sustained release product
SmallCapPower | May 23, 2018: Emblem Corp. (TSXV:EMC), in association with Canntab Therapeutics Limited (CSE:PILL), announced recently that it has received Health Canada’s approval for research and development activities on oral sustained release formulations of cannabinoids (the sustained release product). These cannabinoids are proprietary products formulated by Canntab, which marks a significant step in the development of Emblem along with its Canntab’s partnership in the creation of long-acting cannabis formulations.
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Emblem President and CEO Nick Dean remarked, “Product innovation, new formulations and dosage forms are critical pillars in Emblem’s competitive strength and growth strategy. Our licence agreement with Canntab is an important step in this direction. We believe that cannabis medications need to be in precise, dose-controlled formats supported by pharmacokinetic, dosing and clinical data to be most consistent, effective, and broadly accepted by prescribers and their patients. We are thrilled that Health Canada has approved the research and development phase of our partnership with Canntab. The introduction of Canntab’s sustained release formulation presents a significant growth opportunity for Emblem.”
Canntab is going to make the first batch of the Sustained Release Product using its patented technology and proprietary processes as it has brought development and processing equipment to Emblem’s Paris, Ontario location. The first batch of the Product will undergo rigorous testing both internally by Emblem and Canntab and externally by third-party laboratories. After meeting the target design criteria, Emblem and Canntab will be submitting a full dossier to Health Canada for review and approval.
Canntab Therapeutics CEO Jeffrey Renwick said, “The extended release tablet is the perfect pharmaceutical dosage form. It’s a game changer for the medical community and solves many problems for patients. We are excited to be working with Emblem to bring this innovative product to market.”
In October 2017, Emblem and Canntab entered into a collaboration and licensing agreement for development, regulatory approval, manufacturing, and commercialization of Canntab’s patent-pending sustained release product. Both the companies intend to collaborate on the preclinical formulation, clinical development, regulatory approval and commercialization of a range of additional cannabinoid containing pharmaceutical formulations. Emblem Corp. currently trades at market capitalization of $179.88 million on the TSXV with price-to-book multiple of 2.75x. Its valuation could increase once they get final approval from Health Canada for developing the product.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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