U.S. markets closed

United Cannabis Corporation Obtains Notice Of Allowance For New Patent: 'A Valuable Addition'

Nina Zdinjak

Cannabinoid focused biotechnology company United Cannabis Corporation (OTC: CNAB) said Thursday it has obtained a Notice of Allowance from the United States Patent and Trademark Office for its new patent application that declares procedures of using and preparing cannabinoid formulations.

Once the company pays the necessary fees to the USPTO, this application will evolve into an issued patent. The allowed application is divisional of the company’s previous application that has already matured into the company’s U.S. Patent – “911 Patent.”

“The new patent will compliment and will have the same priority date as our '911 Patent. It will be a valuable addition to the Company's patent portfolio,” United Cannabis Corporation’s vice president and general counsel Jesús Vázquez said in a statement.

"The USPTO concluded that the claims in the new patent "are neither anticipated nor rendered obvious over the record." This is significant because the materials in the "record" that were reviewed by the USPTO include materials that our adversary in pending litigation has argued invalidate our '911 Patent. If those materials do not invalidate the claims in the new patent, they do not invalidate the claims in the '911 Patent."

United Cannabis Corporation's stock closed Wednesday’s session 11.82% higher at 16 cents per share.

Related Links:

United Cannabis Announces CBD Oil Contract Worth Up To M

United Cannabis Corp Names Clifton Lamberth As Chief Marketing Officer


See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.