Emblem Corp (US:EMMBF),(CA:EMC),(EMC.WT) Announces Exclusive Agreement with Canntab Therapeutics for Cannabinoid Based Oral Sustained Release Formulation
Canada is one of the few jurisdictions in the world with a path to regulatory approval of cannabinoid based medication - The current medical cannabis market in Canada is about $400 million. It is searching for better dosage formats. Simple oils have grown to about 35% of the market in less than a year. More appropriate dosage formats can be expected to have comparable effects in the market
- Cannabis tends to require re-dosing. A titratable, sustained release formulation would be have substantial appeal in the chronic neuropathic pain market. Anecdotally, that segment represents a reasonable percentage of the current $400 million medical cannabis market.
- The Canadian non-cannabis chronic pain pharmaceutical market is over $500 million and dominated by opioids. A cannabinoid based sustained release product has potential to enter that market.
- As per other Royalty Agreements in the Pharmaceutical Sector terms weren't disclosed other than 'double digit" royalty. To be clear it is very favorable to Emblem
- Margins for simple cannabis oils are north of 80%
- The global opioid market is expected to reach $42 billion by 2021.
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