Innocan Pharma Files PCT Patent Application for Novel Composition for Preventing and Treating Hair Loss
Herzliya, Israel and Calgary, Alberta--(Newsfile Corp. - August 5, 2022) - Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the "Company" or "Innocan") is pleased to announce that it has filed a new patent application (PCT) entitled "compositions for treatment of hair loss", claiming priority from an earlier US provisional patent application. The composition developed by Innocan research and development and disclosed in the current PCT can be used to treat and prevent hair loss and is applied topically to the skin or scalp.
This application contributes to Innocan's continued expansion of its health and wellness intellectual property portfolio of 14 patent families. The application will ultimately result in more comprehensive international protection for the Company's intellectual property, including in the United States and the European Union, among other places.
The hair loss treatment products market size was valued at almost US$16 million in 2020 and is projected to grow to more than US$45 million by 2028, representing a compound annual growth rate of 13.26% between 2021 to 2028. (February 2022, Verified Market Research)
"Innocan's science is proving itself to have immense value in a variety of applications. We're proud of our intellectual property as the backbone of our Company and we are looking forward to the value that this activity will bring in the near term", said Innocan CEO Iris Bincovich.
Innocan Pharma is a pharmaceutical tech company that operates under two main segments: pharmaceuticals and consumer wellness. In the pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprised of cannabinoids science, to treat various conditions to improve patients' quality of life. This segment involves two drug delivery technologies: (i) "LPT": a CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: epilepsy and pain management; and (ii) "CLX": a CBD-loaded exosomes platform that aims to provide a highly synergistic effect of regenerating and anti-inflammatory properties targeting the central nervous system. In the consumer wellness segment, Innocan develops and markets a wide portfolio of innovative self-care products to promote a healthier lifestyle. Under this segment, Innocan has established a joint venture named BI Sky Global Ltd. that focuses on advancing online sales. https://innocanpharma.com/
For further information, please contact:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
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Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company's products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.
Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
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