Only company in North America to have developed a product line of hard pills for a variety of cannabinoid and terpenoid blends
Expecting near term revenue from cannabis oil gel capsules
Committed management team with pharma experience
Plans to enter US market
What Canntab Therapeutics does:
The Ontario-based company has 13 patents pending in the US and Canada, including covering its hard pill formulations.
Canntab's oral delivery system treats different ailments by delivering a uniform dosage of medicinal cannabis extract. This includes extended-release, immediate release and bi-layered tablets.
The company is the first to offer medical cannabis in pill form and its suite of products continues to grow. Canntab's goal is to become a global leader of research in, production of, and education about hard pill oral dosage therapeutic cannabis.
The tablets are intended to treat a variety of disorders including Post-Traumatic Stress Disorder and arthritis and can also act as a pain management and appetite loss drug for patients undergoing cancer treatments.
How is it doing?
The company has been extremely busy and looks to have big things to come as it edges closer to generating revenue. It is also eyeing the second wave of cannabis legalization in Canada.
Recreational cannabis has been legal for eight months or so but all cannabis edibles, drinks, and vaping products will become as legal as dried flower near the end of this year.
It came the same month, the firm was awarded a milestone key Health Canada license to grow industrial hemp that it uses to extract cannabidiol (CBD) to manufacture cannabis pills.
Significantly, Canntab is now eyeing near term revenue from its cannabis oil gel capsules. It is poised to start manufacturing commercial batches of the capsules at its facility in Ontario and will request Health Canada approval to begin full scale production and sale.
Construction of the facility in Ontario is mostly complete for the purpose of preparing for a Health Canada inspection - the final step before the granting of key 'Licenced Producer' status.
Canntab also revealed it has hired an experienced pharmacist and drug formulation specialist Erin Kofman who will assist with its application to Health Canada for approval of the firm's various dosage forms.
The firm has a number of products that have been developed, including an oral quick dissolve tablet and a flagship extended release solid oral formulation.
In other big news this February, Canntab struck a supply agreement with licensed cannabis producer FSD Pharma and cannabis extraction specialist World Class Extractions to purchase hemp flower from Thomas Elcome, which will be processed into gel capsules and tablets.
The trio will buy up to C$5 million of Thomas Elcome’s hemp crop for five years starting in 2019 at C$100 per kg per 1% of CBD extracted from the flower.
The three companies had earlier struck a deal to buy about 1,000 kg of Thomas Elcome’s 2018 hemp crop.
The trio will process Elcome’s organic hemp flower crop into gel capsules and tablets at FSD’s facility in Cobourg, Ontario, which is being transformed into a large hydroponic indoor cannabis production and processing facility.
What the boss says:
Canntab CEO Jeff Renwick spoke to Proactive Investors last month and explained how the firm decided to turn its previous pharma expertise to the cannabis space when they noticed that when it was sold medically in Canada, it was only in dried flower, or tincture form.
"We realised there was a big hole in the space for finished dosage forms," he said.
Renwick added: "Given the fact we're about to start commercially manufacturing oil filled gel caps with Heritage and other LPs that we're speaking with at the moment and having our tablet development finished and being close to the second wave of legalization, I mean we're close to revenue and we think there's going to be a lot of it so hopefully that reflects in the value of the company and investors all win."