Puget Technologies (OTCBB:PUGE) revealed its subsidiary, Cannabis
Biotech, has entered into an agreement with a patent attorney as it
launches its product research to develop a transmucosal system for the
delivery of medical marijuana. Cannabis Biotech is developing a platform
with the ability to deliver a reliable, standard dose of medicine. The
transmucosal platform is an effective means to introduce treatments
across the mucous membrane and is a well-established and accepted system
of administration.
As previously announced, Cannabis Biotech is focusing on technologies
whereby medical marijuana can be effectively administered through the
transmucosal platform. This project is part of a larger effort to
develop a wider variety of delivery methods to serve a growing, diverse
patient base and is targeted towards those who desire the benefits of
medical marijuana but do not want the harmful effects or stigma of
smoking it.
Ken Morrow, prominent international marijuana authority who is heading
up the research for Cannabis Biotech said, “Nasal delivery for
administration of therapeutic remedies has been used for thousands of
years and is very popular today. The system offers the potential of
appealing to a broader patient base due to being user-friendly, reliable
and fast-acting.”
According to Research and Markets, a leading international source for
international market research reports and market data, the global drug
delivery market was worth $142.5 billion in 2012. The report cites
patent expiration of certain blockbuster drugs, growing demand for
self-administration and home healthcare devices, and the rising
incidence of chronic diseases among the causes for the massive growth in
this market.
President and CEO of Puget Technologies Ron Leyland said, “Cannabis
Biotech will be filing a design patent for a unique delivery device to
optimize administration of the medicine and improve effectiveness and
outcomes.” He added, “The intranasal system will position Cannabis
Biotech to take advantage of market growth and play a significant role
in the future of medical marijuana development and commercialization.”
The uptake of medicine via transmucosal systems is well accepted by
patients. Flonase (fluticasone propionate) manufactured by
GlaxoSmithKline (NYSE: GSK), Rhinocort Aqua (budesonide) by AstraZeneca
(NYSE: AZN), and Ortrivine Adult Metered Dose by Novartis (NYSE: NVS)
are popular medications which are commonly used in the U.S. The
methodology is used as an anti-influenza therapy and to treat allergies,
vitamin B deficiency, osteoporosis and nicotine addiction among other
conditions.
More information about Cannabis Biotech can be found at http://www.cannabisbiotech.com.
About Puget Technologies (PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market
stock exchange under the ticker symbol PUGE. Headquartered in Ft.
Lauderdale, Florida, Puget Technologies acquires, develops and sells
leading edge consumer oriented products ready for rapid
commercialization. Puget plans to become a recognized market leader in
its product categories. Much of its resources are dedicated to research
and development in order to provide consumers with quality options while
meeting the expectations of its investors.
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