OXNARD, Calif., March 12, 2019 (GLOBE NEWSWIRE) -- CURE Pharmaceutical (OTC:CURR), an innovative drug delivery and development company, today announced it has broadened its U.S. Drug Enforcement Administration (DEA) license as an authorized manufacturer of Schedule 1 substances to include both cannabis plant extracts and synthetic cannabidiol (CBD). This license allows CURE to take advantage of its latest U.S. Patent No. 10,238,705 issuing this month for the extraction and purification of cannabis plant material, as well as subsequent processing of cannabis extracts for drug formulation.
CURE will develop and manufacture cannabis-derived and synthetic cannabidiol-based pharmaceutical products using its CUREfilm™ technology at its facility in Oxnard, Calif. CUREfilm technology is ideal for the delivery of cannabinoids as it offers increased bioavailability, ease and precision of dosing and greater palatability.
"This license approval significantly expands the potential formulations we can develop," said Rob Davidson, CEO of CURE Pharmaceutical. "Which, coupled with our growing patent estate and proprietary manufacturing process, extends our competitive advantage and moves us closer to bringing breakthrough pharmaceuticals to consumers."
The latest U.S. DEA drug classification lists the entire cannabis plant under the Drug Code 7360 and the use of the cannabis extracts in any form (excluding those specifically listed) as part of Drug Code 7350. CURE now has the right to manufacture pharmaceuticals based on both -- those based on the natural cannabis plant, such as hemp, as well as synthetic cannabinoids produced by chemical synthesis.
U.S. Patent No. 10,238,705 covers the extraction and fractioning of bioactive cannabinoid molecules such as tetrahydrocannabinol (THC) and CBD from the cannabis plant, allowing the integration of these molecules into a dosage form, such as CUREfilm. The patent inventor, Gary Speier, is a registered patent attorney with Carlson Caspers and an advisor to CURE.
About CURE Pharmaceutical
CURE Pharmaceutical is a vertically integrated drug delivery and development company committed to improving drug efficacy, safety and the patient experience through its proprietary drug dosage forms and delivery systems. CURE has a full-service cGMP manufacturing facility and is a pioneering developer and manufacturer of a patented and proprietary delivery system (CUREfilm™), one of the most advanced oral thin film on the market today. CURE is developing an array of products in innovative delivery platforms and partners with biotech and pharmaceutical companies. CURE has positioned itself to advance numerous therapeutic categories, including the pharmaceutical cannabis sector with partnerships in the U.S., Canada and Israel. The company's mission is to improve people's lives by redefining how medicines are delivered and experienced.
For more information about CURE Pharmaceutical, please visit its website at www.curepharma.com.
This press release contains forward-looking statements that involve risks and uncertainties. There are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the ability to successfully market our products, the difficulty in predicting the timing or outcome of other product research and development efforts, potential product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect the Company's judgment as of the date of this press release. The Company disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Source: Cure Pharmaceutical Holding Corp.