— Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), a Canadian Life Sciences company focused on innovative drug and active ingredient delivery solutions, is pleased to announce it has filed a non-provisional patent with the USPTO for an “Apparatus for and method of converting cbd and/or cbd derivatives to at least one other type of cannabinoid and/or cannabinoid derivative such as THC”. In conjunction with McMaster University and the team lead by Dr. James McNulty, RDT has discovered a new and efficient way to create THC from CBD. This selective method can generate delta 8 or delta 9 THC.
Jason Lewis, RDT SVP and co-inventor said, “This is an incredible breakthrough for RDT and the industry as a whole. Our technology could revolutionize the way synthetic THC is created so patients around the world can have access to a consistent quality of delta 8 or delta 9. Instead of the industry being dependent on the many complicated variables associated with growing cannabis and the expense of cultivating indoors, we created a method to convert hemp-derived CBD to THC. This is the innovation required to allow pharmaceutical companies to embrace cannabinoid treatments.”
“This process is novel and highly efficient at selectively converting CBD isolate or distillate into synthetic THC,” said Dr. McNulty. “Our collaboration with RDT has resulted in a transformative outcome that we are proud to be involved with. There are numerous high yield derivatives we can control for using naturally derived CBD through the innovative conversion. My team is excited about the possibilities to provide pure cannabinoids for life science companies.”
The PCT application is a follow up to the RDT provisional patent filed on April 5, 2019. Mark Upsdell, RDT CEO, said: “Despite the current COVID situation creating delays around the globe, RDT remains committed to research and innovation. Our filing of this patent is an indication that our continued work with McMaster is aligned with our overall strategy to create unique products aimed at improving patient outcomes. The ability to combine this innovation with our unique QuickStrip™ delivery system will create new opportunities for RDT.”
About Rapid Dose Therapeutics
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian Life Sciences company providing innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. RDT offers Quick, Convenient, Precise and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry — including nutraceutical, pharmaceutical and cannabis industries. Within the cannabis sector, RDT also provides a turn-key Managed Strip Service Program enabling RDT’s QuickStrip™ proprietary drug delivery technology to be licensed to select operators in identified markets. RDT’s service-based annuity contracts drive recurring revenue and facilitate rapid expansion into emerging markets across multiple consumer segments. RDT is committed to continually create innovative solutions for humans, animals and plants.
For more information, visit: www.rapid-dose.com
For inquiries please contact:
|Mark Upsdell||Pat McCarthy|
|CEO||Managing Director Capital Markets|
|Ofc (416) 477-1052||Ofc (416) 365-8012|
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws.
Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend”, “will”, “could”, “are planned to”, “are expected to” or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues and the dismissal of the CTT lawsuit, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results and are believed to be reasonable based on information currently available to RDT management. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; termination of WLM agreements; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by RDT management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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