Emblem Corp. (TSX.V: EMC) (OTC: EMMBF) yesterday announced its entry into a collaboration and licensing agreement with Canntab Therapeutics Limited, developer of a patent-pending oral sustained release formulation for cannabinoids. Per the terms of the agreement, Emblem and Canntab will collaborate on the preclinical formulation, clinical development, regulatory approval, manufacturing and commercialization of this sustained release product, with Emblem receiving the exclusive right in Canada to Canntab’s patents and know-how for the purpose of developing and commercializing the innovative product under the Emblem brand. Manufacture of the sustained release product is expected to be completed by Emblem or Canntab following Canntab’s reception of appropriate licensing allowing for such operations. The licensing agreement calls for Emblem to make payments to Canntab upon achievement of certain milestones involving stability studies, bio-availability studies and regulatory approval of the sustained release product. Additionally, Emblem will be responsible for royalty payments to Canntab based upon gross sales of the product.
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Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) to cultivate and sell medical marihuana. Emblem carries out its principal activities producing marihuana from its facilities in Paris, Ontario pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations. For more information, visit the company’s website at www.EmblemCannabis.com
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