VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2016) - Cannabix Technologies Inc. (CSE:BLO)(OTC PINK:BLOZF) (the "Company") is pleased to report it has exercised its option to license University of Florida US Patent 8,237,118 ("the Patent") in the area of breath analysis of controlled substances. Cannabix entered into a research and patent option agreement with the University of Florida ("the University") in July of 2015. Due to the positive results received on the FAIMS THC Breathalyzer development to date, Cannabix has moved to exercise its option to license the exclusive patent rights immediately. The Option exercise will give Cannabix exclusive worldwide rights in the area of breath analysis of controlled substances. In addition, Cannabix will be renewing its agreement with the University of Florida to continue development of its FAIMS-MS based marijuana breathalyzer.
Since the fall of 2015, Dr. Yost's group and Cannabix have been working diligently to optimize the high-field asymmetric waveform ion mobility spectrometry (FAIMS) cell for detection of trace amounts of THC through exhaled breath. The team has made consistent and impressive progress towards the development of a FAIMS- based hand held breathalyzer to accurately detect trace amounts of THC. The superior design developed by Dr. Yost's team improves resolution, sensitivity and consistency using novel methods, with industry standard mass spectrometry being used for characterization.
Dr. Raj Attariwala, Cannabix's Chief Scientific Officer, states, "FAIMS technology builds upon the current gold standard technique of Quadrupole Mass Spectrometry for measuring THC. This patent provides Cannabix with an engine to drive miniaturization of THC detection from exhaled breath, and the expertise provided by the Yost lab at the University of Florida is unparalleled in the analytical chemistry device development arena. This combination will lead Cannabix towards consistency and accuracy in real-time trace levels of THC detection in exhaled breath."
Kal Malhi, President of Cannabix stated, "Cannabix is very pleased with the progress that we have made to achieve highly accurate detection of THC in breath using FAIMS technology. Due to positive results, we are immediately exercising our Option on US Patent 8,237,118, Partial Ovoidal FAIMS Electrode for breath analysis of controlled substances. Cannabix is a pioneer and a leader in the development of a FAIMS based THC Breathalyzer and we are cognizant of this lead position and the need to protect our know-how and developments. We are amassing a portfolio of intellectual property including patent protection for various devices and need to protect the details of our developments until the required patent protection is in place. Cannabix will provide updates on the development of its device as they occur and as patent protection requirements permit.
PITTCON 2016
Cannabix is pleased to report that Company officers and research delegates have been invited to present at the PITTCON 2016 conference on its technology development and know how in the area of breath testing for THC. PITTCON will be held from March 6-10, 2016 at the Georgia World Congress Center, Atlanta, Georgia.
PITTCON is the world's largest annual premier conference and exposition on laboratory science. It is a scientific conference on leading discoveries and innovations in analytical chemistry and applied spectroscopy that serves life sciences, pharmaceutical discovery, environmental and bioterrorism industries. PITTCON attracts attendees from industry, academia and government from over 90 countries worldwide. Dr Rick Yost, Dr Bruce Goldberger and Dr Jared Boock will be presenting at the conference. Cannabix and Washington State University researcher Dr. Herbert Hill have been invited to present on THC breath testing technology at this prestigious event.
For more information visit cannabixtechnologies.com.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many jurisdictions globally. Cannabix is working to develop drug-testing devices that will detect Tetrahydrocannabinol (THC- the psychoactive component of marijuana that causes intoxication) using breath samples. This technology would be used to provide detection of use of THC at the roadside to identify drivers intoxicated by the recent use of marijuana. In particular, Cannabix is focused on developing breath testing devices for THC detection that would target recent use of THC, in contrast to saliva or urine testing for THC which can be invasive and take considerable time for laboratory analysis. The devices will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous.
About The Yost Research Group at the University of Florida
Research in the Yost Group at the University of Florida is led by Professor Rick Yost and centers on instrumentation, fundamentals, and applications. Instrumentation development includes a wide range of projects in tandem mass spectrometry (MS/MS) and ion mobility. The Yost Research Group is developing and evaluating high-field asymmetric waveform ion mobility spectrometry (FAIMS) coupled to a mass spectrometer for the analysis of various compound classes including THC. Dr. Yost's research has involved over 100 graduate students funded by over $40 million in research grants, and has led to the publication of over 160 papers and 16 patents. Over $30 billion worth of instruments have been sold based on these patents.
We seek Safe Harbor.
On behalf of the Board of Directors
Rav Mlait, CEO
Cannabix Technologies Inc.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial or prototype product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks regarding protection of proprietary technology; (iii) the ability of the Company to complete financings; (v) the ability of the Company to develop and market its future product; and (vi) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the marijuana breathalyzer business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing "patent pending" technologies licensed by the Company will receive patent status by regulatory authorities. The Company is not currently selling commercial breathalyzers. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.