Callitas Health Inc. (CNSX:LILY), a clinical-stage pharmaceutical and OTC consumer goods marketing company, announced Thursday that it had signed an exclusive development agreement with a company to boost global distribution of its patent-pending CannaMint Strips.
The company said it had “contracted with a confidential OTC pharmaceutical development and custom packaging company” to help “develop, contract manufacture and package” the ever popular 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,” said Callitas Health in a statement.
Formed in early 2015, Callitas Health is developing innovative remedies for weight management, female sexual health, cannabis delivery technologies and other proprietary drugs.
“We have patent-pending pharmaceutical status from the US patent office concerning the orally dissolvable delivery technology concerning cannabinoids branded as CannaMint Strips by Callitas,” said interim Callitas Health CEO James Thompson.
The firm is planning to license the technology to manufacturers and distributors in North America.
It recently signed partnership agreements with two undisclosed Californian companies, which permits Calitas to market and sell its CannaMint strips for both tetrahydrocannabinol (thc) and cannabidiol (cbd).
“Our patented and patent-pending technologies have the potential to be game-changers as delivery mechanisms for CBD and THC,” said Thompson.
In addition to the exclusive development 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,” said Thompson.
The company also announced that it had appointed Dr. Gregory Smith as chief medical cannabis advisor to give Callitas Health a competitive edge in the “dynamic and ever-changing THC/CBD cannabinoids market.”
Dr. Smith, a former Major in the US army, has extensive experience and education in the field of cannabinoid medication, and currently serves as the editor-in-chief of www.CannabisMD.com.
He first trained on the use of medical cannabis in California in 2000, and subsequently, has published over a dozen peer-reviewed medical publications, and two medical textbooks.
“These next steps are integral in increasing our visibility, viability and longevity in the industry,” said Thompson.