VANCOUVER, British Columbia, Aug. 23, 2017 (GLOBE NEWSWIRE) — Harvest One Cannabis Inc. (TSX-V:HVST) (“Harvest One” or the “Company“) is pleased to advise that the Patent Cooperation Treaty (“PCT”) application submitted by the Company’s Swiss-based subsidiary Satipharm AG (“Satipharm“) in February 2017 has now been published. This comprehensive patent application is directed at Satipharm’s proprietary Gelpell-CBD product technology, and covers oral formulations utilising both singular and/or a combination of cannabinoids. Once granted, the patent will be owned equally by Satipharm and its manufacturing partner Gelpell AG (“Gelpell”) and will also cover, via an exclusive agreement, the cannabis-derived prescription drugs developed by PhytoTech Therapeutics Limited (“PTL”).
The unique Gelpell-CBD product technology enables flexibility in manufacturing a wide range of doses at various ratios of cannabinoids that can be used for multiple indications and personalised medicine.
In 2016, Satipharm signed an exclusive license agreement with Gelpell (the “License Agreement“) to develop and sell products using Gelpell’s proprietary technology, for the treatment or prevention of any medical condition or disease in humans and animal and for food and dietary supplements. Under the terms of the licence, the parties agreed that all intellectual property generated under the licence will be jointly owned between Gelpell and Satipharm, but Satipharm will maintain exclusivity to any licenced intellectual property. Satipharm has, in turn granted PTL the exclusive rights to exploit the Gelpell IP in the worldwide pharmaceutical field (excluding Canada).
Andreas Gedeon, Harvest One’s CEO commented, “This patent progression is a key development for our research and development team, and reaffirms the Company’s commitment to strengthening its intellectual property portfolio. We remain focused on expanding our R&D capabilities and we look forward to providing further updates on this division in due course.”
Harvest One advises the Company will provide a comprehensive corporate update to the market in the coming weeks.
About Harvest One
Harvest One Cannabis Inc. (TSX-V:HVST) controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the PCT application. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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