The patent agreement will be in exchange for high single-digit royalties on net sales or net proceeds from the technology.
The deal for four separate patent applications will cover various oral and ingestible products. They include those for orally dissolving goods with an immediate cannabis effect, a sustained release cannabis product, and a combination of both. It will also cover products for the appropriate individual controlled dosing of CBD and/or THC for the legal, adult use and medical marijuana markets.
”Using our clinically-proven delivery technology, pharmaceutical development and intellectual property experience, we have developed and acquired multiple new patent applications that define and protect a continuum of novel advanced cannabis dosing technologies,” said Callitas CEO James Thompson.
”These new delivery and dosing technologies will create a new platform of products for both the legal, medical and adult-use cannabis markets,” he added.
The agreement with Doctor Thompson provides for full assignment of the intellectual property rights, including patents that are pending, any patents to be filed in the future and any/all trade secrets and proprietary information, in the cannabis dosing space to Callitas Health in exchange for a high single-digit royalty on net sales or net proceeds from the assigned/licensed technology.
Callitas Health is a clinical-stage pharmaceutical development and OTC consumer goods marketing company.
The company is based in Cincinnati, Ohio.