Cannabix is developing Marijuana Breathalyzer devices to give law enforcement and employers a tool to enhance public safety
VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF) (the “Company or Cannabix”) developer of the Cannabix Marijuana Breathalyzer devices for law enforcement and the workplace, announces that the United States Patent and Trademark Office (USPTO) has granted patent No. 14/689434 entitled, “Cannabis Drug Detection Device” to the Company. The Company and its patent attorneys have been pursuing this patent application since its filing in 2014. Cannabix Technologies is on the forefront in research and development to create point-of-care breath testing technologies for the detection of ∆9-tetrahydrocannabinol (“THC”) - the psychoactive component of marijuana that causes impairment.
“The intellectual property protection this THC detection patent covers, gives Cannabix a broad foundation to build upon in view of the formidable insights and technical advancements made in the field of molecular gas analysis at atmospheric pressure that we have developed since this patent was initially filed in 2014. Considering the field of breath detection of drugs is in its infancy, this patent is a useful step in our IP protection strategy,” said Dr. Raj Attariwala.
In light of the granting of U.S. patent 14/689434, the Company undertaken a strategic review of its existing patent applications and will re-align its portfolio by canceling its second licence agreement with the University of Florida (UF) in relation to patent application 16/082,220. The Company will continue with its original licence agreement with UF in relation to patent 8,237,118.
As a requirement under the licence agreement between the Company and Cannabix Breathalyzer Inc. (a separate entity) entered into on June 5th, 2014, Company will issue 5 million common shares to Cannabix Breathalyzer Inc. as a final milestone payment, triggered by the grant of patent 14/689434 by the USPTO.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing accurate, durable, portable tools to market to enable detection of marijuana-impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects usage, days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where impairment by THC can be hazardous.
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Cannabix Technologies Inc.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial or prototype product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks regarding protection of proprietary technology; (iii) the ability of the Company to complete financings; (iv) the ability of the Company to develop and market its future product; and (v) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the marijuana breathalyzer business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing “patent pending” technologies licensed by the Company will receive patent status by regulatory authorities. The Company is not currently selling commercial breathalyzers. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.