DENVER, CO / ACCESSWIRE / July 10, 2018 / United Cannabis Corporation (CNAB) (the "Company" or "United Cannabis") today announced that the South African Patent Office has declared effective the Company's patent application based upon PCT/US2015/056635, and pursuant to the Patent Cooperation Treaty (PCT), for "Cannabis Extracts and Methods of Preparing and Using Same."
Earnest Blackmon, United Cannabis' Chief Executive Officer, commented on the approval: "South Africa is one of many markets where medical marijuana is viewed favorably, and we look forward to establishing a strong presence there, and making our Prana products available to qualified patients across the country. As we continue to move into new markets it's important that we protect our innovations and the investment that we have made in product development, so we are very pleased that the South African Patent Office has approved our patent application."
Jesús Vázquez, United Cannabis' General Counsel, also commented on the approval: "This is an important step in our company's intellectual property global development and protection strategy. We look forward to licensing our patented formulations and innovations in South Africa."
The processes included in the filing are integral to the Company's branded products, including the Prana Bio Nutrient Medicinals line, and comprise the application of strain specific ratio based phytocannabinoids, cannabinoids, chemical-free extractions, and the use of cannabis derived terpenes in the medical and pharmaceutical delivery methods including capsules, sublinguals, topicals, transdermal applications, supplements, edibles, aerosol sprays, nebulizers, inhalers, aromatherapy, suppositories, and vaporization.
The Company's patent is still in the review process in Australia, Brazil, Canada, China, Colombia, Europe, Eurasia, India, Israel, Japan, Mexico, New Zealand, The Philippines, and South Korea.
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial hemp markets. The Company has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. The Company's products are patent protected, first in class medicines with applications to a global market. United Cannabis trades on the OTCQB under the symbol CNAB.
For further information, please visit www.unitedcannabis.us.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE: United Cannabis Corporation