Canntab Therapeutics (PILL.C) announced today that it has reached an agreement with 36Eight Technologies (“36Eight”), whereby “36Eight” will list, market, and support all of Canntab’s market-exclusive and patent-protected solid and exact dose products.
“This is an exciting opportunity for Canntab, as we believe 36Eight’s unique and valuable complementary platform will support our ability to provide effective solutions for patients while reinforcing the confidence of patients in their relationship with their clinical pharmacist,” said Larry Latowsky, CEO of Canntab.
When I saw that Canntab had news out this morning, I was both surprised and relieved. Since the passing of Jeffrey Ward Renwick, the Company’s Co-Founder, Director, and President, Canntab has been radio silent. Canntab’s last press release was 5 months ago, on June 3, 2021, when the Company announced the receipt of CAD$1,259,250 in gross proceeds from the early exercise of 1,679,000 warrants into common shares. Following the loss of Mr. Renwick, Richard Goldstein, Canntab’s Co-Founder and CFO, reaffirmed the Company’s commitment to Mr. Renwick’s vision of developing a solid dose pharmaceutical-grade medical cannabis tablet. With this in mind, Canntab has come back swinging, having now entered into an agreement with 36Eight.
Who is 36Eight? 36Eight is a bioinformatics healthcare data and technology company utilizing Artificial Intelligence (AI) and proprietary Machine Learning algorithms to efficiently understand a patient’s unique medical needs. More specifically, the company builds clinical solutions to support healthcare practitioners, physicians, nurse practitioners, and pharmacists to assist patients with personalized health treatments. Moreover, 36Eight offers insights for research and development to continuously improve patient health. Currently, 36Eight offers a few clinical solutions including:
- C/R/I/S (Cannabis Recommendation Information System – an AI/Machine Learning tool intended to help health care practitioners navigate patients through the world of medical cannabis
- Virtual Care – a virtual care platform providing a secure and private solution for connecting patients with their healthcare providers
- COVID-19 Vaccine Tracking – a record of which vaccine was https://e4njohordzs.exactdn.com/wp-content/uploads/2021/10/tnw8sVO3j-2.pngistered, when it was https://e4njohordzs.exactdn.com/wp-content/uploads/2021/10/tnw8sVO3j-2.pngistered, lot number, and when a second dose is scheduled (if required)
As previously mentioned, 36Eight will assist Canntab in listing, marketing, and supporting all of the Company’s market-exclusive and patent-protected solid and exact does products. In case you’re new to Canntab, the Company offers solid oral dosage cannabis tablets in a variety of strengths and ratios, enabling consumers to better control their dosage and achieve the relief they are looking for. Why solid tablets? Smoking cannabis can result in a large initial dose, followed by an equally rapid drop in effect. On the contrary, cannabis edibles are unpredictable and slow to take effect. With this in mind, Canntab offers a variety of tablets, including:
- Instant Release – a fast-acting, short duration, easy to consume tablet for patients who require a modest amount of THC.
- Extended-Release – a once-a-day tablet characterized by a gradual onset and lasting effect, ideal for the treatment of chronic conditions. This tablet is also intended for patients who require a modest amount of THC.
- Oral Dissolving – an orally disintegrating tablet ideal for patients who have difficulty swallowing. This tablet provides onset of action between 5-30 minutes and is ideal for those looking to have fine-grain control over their dosing.
“Canntab’s product offerings are unlike any other product we support, as they are unique in that they provide exact dosage in a solid format, one that pharmacists and patients are comfortable with as a traditional delivery system…We expect that with our software to support optimum care, our pharmacy partners will welcome and embrace Canntab’s products,” said John Tse, 36Eight’s Founder and CEO.
In 2022, Canntab plans to initiate additional clinical trials utilizing its patent-pending delivery mechanisms and formulation capabilities for sleep, pain, arthritis, irritable bowel syndrome (IBS), and Temporomandibular Joint Disorder. Additionally, the Company intends to continue partnering with Canadian businesses looking to use Canntab’s proprietary oral dose delivery system for their own formulations. Ultimately, with several patent-protected oral tablets, Canntab is well-positioned in the oral drug delivery market, which is projected to reach USD$150.063 billion by 2024, compared to USD$100.050 billion in 2018. However, both the Company’s share price and volume have dropped significantly since Canntab went radio silent. With this in mind, the Company has quite a climb ahead of it.
Canntab’s share price opened at $0.69, down from a previous close of $0.70. The Company’s shares are down 1.43% and were trading at $0.69 as of 9:39 AM ET.
Full Disclosure: Canntab is a marketing client of Equity Guru.
