Innovative Chronic Pain Treatment expand IP Protection in China'sUS$163 Billion Pharmaceutical Market
HERZLIYA, Israel and CALGARY, AB, April 7, 2025 /CNW/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) ("Innocan" or the "Company"), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce that a divisional application for its Chinese (CN) liposome-based CBD technology patent was filed.
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Following the recently granted patent in India for a prolonged-release pharmaceutical formulation using liposomes to encapsulate CBD, Innocan is actively advancing its efforts to strengthen intellectual property protection across additional Asian markets. China, the second-largest pharmaceutical market in the world, was valued with US $163Bn medicine spending at 2023 (IQVIA). The filing of this divisional application in China reflects the expertise and commitment of the Innocan team and represents a strategic step in aligning the company's intellectual property portfolio with its long-term global business objectives.
This application protects Innocan's synthetic CBD-loaded Liposome Injection Platform (LPT-CBD), developed jointly in collaboration with Professor Chezy Barenholz and Dr. Ahuva Cern from the Hebrew University in Jerusalem. The liposomal drug delivery platform allows for prolonged exposure and maximizes the bioavailability and therapeutic effects of CBD.
"We are pleased to announce the filing of a divisional patent in China," said Iris Bincovich, Chief Executive Officer of Innocan. "Establishing a comprehensive global patent strategy enables us to effectively support the company's broader business objectives in the global pharmaceutical market—particularly within the rapidly growing Asian region"
Dr. Eyal Kalo, Vice President of R&D, commented, "LPT-CBD demonstrates sustained pharmacokinetics and has shown efficacy across multiple animal models of chronic pain. We are extremely proud of our team's efforts in advancing the innovation behind LPT-CBD, enabling us to secure broad international intellectual property protection".
Innocan also announces that it intends to complete a non-brokered private placement of 833,333 units of the Company (the "Units") at a price of CAD $0.18 per Unit for gross proceeds of CAD $150,000 (the "Offering"). The Offering is expected to close on or around April 14, 2025.
Each Unit will be comprised of: (i) one (1) common share in the capital of the Company (each a "Common Share"); and (ii) one (1) common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD $0.25 for a period of four (4) years from the date of issuance.
Innocan intends to use the proceeds of the Offering for working capital and general corporate purposes.
The securities issued to Canadian subscribers in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About Innocan: Innocan is an innovator in the pharmaceuticals and wellness sectors. In the pharmaceuticals sector, Innocan developed a CBD-loaded liposome drug delivery platform with exact dosing, prolonged and controlled release of synthetic CBD for non-opioid pain management. In the wellness sector, Innocan develops and markets a wide portfolio of high-performance self-care and beauty products to promote a healthier lifestyle. Under this segment, Innocan focuses on advanced, targeted online sales, through its BI Sky Global Ltd. subsidiary. www.innocanpharma.com
Contact Information:
For Innocan Pharma Corporation: Iris Bincovich, CEO +1 5162104025 +972-54-3012842 +442037699377 info@innocanpharma.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
Certain information set forth in this news release including, without limitation, the Company's plans to strengthen its intellectual property protection and to complete the Offering, 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 production and distribution arrangements.
Forward-looking information is subject to various risks and uncertainties that 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: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. The Company cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to the Company. 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). 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. A comprehensive discussion of other risks that impact Innocan can be found in Innocan's public reports and filings which are available under Innocan's profile at www.sedarplus.ca.
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.
