Puget Technologies (OTCBB:PUGE) announced its subsidiary, Cannabis
Biotech, is in talks with a research chemist to explore the development
of an exclusive cannabis-based metered-dose transmucosal delivery
platform. The transmucosal system is an effective means to introduce
treatments across the mucous membrane and is a well-established and
accepted system of administration. Cannabis Biotech sought out this
eminently qualified professional in the beginning stages as it enters
the multi-billion dollar medical marijuana industry with a commitment to
maintaining strict protocols and quality standards.
This project is part of the company’s strategy to develop a wider
variety of delivery methods directed towards a growing, diverse patient
base. Cannabis Biotech’s research is focusing on the growing number of
patients who desire the benefits of medical marijuana but do not want
the harmful effects or stigma of smoking it.
According to one estimate, there are 24.8 million potential patients
eligible for medical marijuana (The State of Marijuana Markets 2011).
Currently 20 U.S. states and the District of Columbia have enacted laws
to legalize the use of medical marijuana.
President and CEO of Puget Technologies Ron Leyland said, “We are
looking forward to this eminent scientist joining our research team.
This will bring us one step closer to our goal of providing patients
with products developed under the most rigorous standards and protocols.”
The uptake of medicine via transmucosal systems is well received by
patients. Flonase (fluticasone propionate) manufactured by
GlaxoSmithKline (NYSE: GSK), Rhinocort Aqua (budesonide) by AstraZeneca
(NYSE: AZN), and Nicotrol®NS (nicotine nasal spray) by Pfizer (NYSE:
PFE) 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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Copyright Business Wire 2013