Ovation Science Strengthens IP Protection with New US Patent
Ovation Science Inc. has been awarded a patent for its transdermal creams formulated with CBD and THC, valid until February 2041. This patent strengthens the company's market position by protecting its proprietary drug delivery system, Invisicare. It covers the composition and method for delivering CBD and THC through the skin. Ovation has also expanded its licensing to four additional U.S. states, increasing its market reach to over 2,800 dispensaries. The company’s innovative approach has resulted in products showing significantly better absorption rates compared to competitors.
- Patent granted until February 2041 enhances competitive advantage.
- Expansion into four additional U.S. states increases market access.
- Superior absorption rates demonstrated over competitor products.
- None.
Patent Protection Until 2041 Awarded for Transdermal Creams Formulated with CBD and THC
VANCOUVER, BC and LAS VEGAS, Sept. 14, 2022 /PRNewswire/ - (CSE: OVAT) (OTCQB: OVATF) – Ovation Science Inc. ("Ovation" or the "Company"), a topical and transdermal cannabis product development company with a patented skin delivery technology Invisicare®, is pleased to announce that the U.S. Patent and Trademark Office (USPTO) has granted Ovation a patent entitled "Composition and Method for Transdermal Delivery of Cannabidiol (CBD) and 9-Tetrahydrocannabinol (THC)"; (US Patent Number: 11,439,602), with an expiry of February 2041.
This patent is a significant achievement for the Company's R&D department which uses pharmaceutical drug development methods to optimize the transdermal delivery of topical cannabis products. The patent covers the Company's innovative transdermal creams formulated with a combination of CBD and THC and delivered by its proprietary drug delivery system Invisicare®. It protects both the composition as well as a method for formulating a transdermal delivery composition based on a desired ratio of CBD to THC through skin tissue. Ovation has also filed for similar patent protection in Canada.
"The granting of this patent helps solidify our position in the marketplace with products that cannot be duplicated by competitors," said Terry Howlett, CEO of Ovation Science. "Ovation Science has been developing highly effective products which has led to high consumer satisfaction and a number of awards. In conjunction with our trade secrets, this patent will further protect these formulations." He added, "We have proven that our transdermal delivery method is more effective than other topical products on the market and more efficient than edibles (gummies, etc.) or inhalation (smoking or vaping) as it has better absorption; avoiding "first-pass" through the liver. First-pass increases the delivery time and makes less CBD:THC available than Ovation's formulations."
Ovation recently announced it has made notable progress in expanding the availability of its products after adding a licensee for four states (Oklahoma, Missouri, New Mexico and Mississippi). (September 7th, 2022), bringing the total number of Ovation licensed states to five. This includes Nevada where Ovation's products have been awarded top topical sales status since their launch. Total estimated number of licensed dispensaries in these five states is over 2,800. Ovation continues to seek additional licensee for other US states, Canada and Europe.
Ovation leverages its expertise in the pharmaceutical industry to develop highly effective, proprietary products. What makes Ovation's products different from any other topical cannabis products on the market is its superior delivery of CBD / THC and other cannabinoids using its proprietary skin delivery technology Invisicare®. Invisicare has over twenty years of research and development in the pharmaceutical industry; specifically, dermatology. Ovation formulates two types of topicals; ones that remain on the skin to deal with "skin issues" and transdermal creams that allow the CBD (cannabidiol), and/or the THC (tetrahydrocannabinol) and other cannabinoids to be absorbed through the skin into the bloodstream. Studies show Ovation's products have a 10 times greater release of CBD to the skin and over 5 times greater penetration compared to other products tested.
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
Ovation Science Inc. is a research and development company that develops topical and transdermal consumer products including its CBD/THC and other cannabinoid formulations which are licensed out to manufacturers and distributors of cannabis products. Ovation also distributes its own brands; ARLO CBD Beauty (skincare) and InVibe® MD (health & wellness); all made with its patented Invisicare® skin delivery technology. The Invisicare technology enhances the delivery of ingredients to and through the skin and is protected by patents and proprietary formulations which cannot be duplicated. With over twenty years of topical and transdermal drug delivery experience in the pharmaceutical market, Ovation's management and science team have created a unique pipeline of over thirty proprietary medical / wellness topical and transdermal products along with a line of anti-aging / beauty formulas. Ovation earns revenues from royalties on licensees' sales and the sale of Invisicare, along with revenue from its own product sales. Ovation has offices in Vancouver, BC Canada and Las Vegas, Nevada, USA.
Ovation trades on the CSE under the symbol OVAT and in the USA on OTC Markets under the symbol OVATF. Visit our website www.ovationscience.com for more information. Product Lines: HEALTH & WELLNESS: www.invibemd.com BEAUTY: www.arlocbdbeauty.com
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular there is no assurance of sales and acceptance of its products in any of the states cited, continued sales in Nevada or expansion of distribution to other states or countries or continued sales in dispensaries or in retail markets. There are no guarantees of future performance or changes to regulations. There is no guaranty that any further patent protection will be awarded. Ovation Science Inc. cautions that all forward looking statements are inherently uncertain and that actual results may be affected by a number of material factors, many of which are beyond Ovation Science Inc.'s control. Accordingly, readers should not place undue reliance on the forward-looking information. Ovation disclaims any obligation to revise or update any such forward-looking information to reflect future results, events or circumstances, except as required by law.
Neither the Canadian Securities Exchange, OTC Markets nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Ovation Science Inc.
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