Business
CTT Pharmaceuticals Initiates Legal Action Against Rapid Dose Therapeutics Ltd.
CTT Pharmaceuticals Initiates Legal Action Against Rapid Dose Therapeutics Ltd..
About this update from Ctt Pharmaceutical Holdings, Inc.
[{"type":"text","content":"\nHamilton, Ontario, Oct. 01, 2018 (GLOBE NEWSWIRE) -- CTT Pharmaceutical Holdings Inc. (\"CTT\") (OTC: CTTH) announced today that it is seeking an injunction to restrain Rapid Dose Therapeutics Ltd. (RDT), a Canadian company which recently announced a Memorandum of Understanding (MOU) with a Canadian licensed producer, from misusing CTT’s confidential information and intellectual property and from selling its “QuickStrip” or any other oral thin film wafer of medicine, including cannabinoids.\n Pursuant to a previously written agreement between the parties, and in anticipation of a transaction which ultimately did not occur, CTT Pharma disclosed certain confidential information to RDT, including access to information regarding its patents, key individuals, and suppliers required to develop and manufacture an oral thin film wafer. Dr. Pankaj Modi, CEO of CTT and developer of the technology owned under patent by the Company said, “I introduced the people behind RDT to the technology I developed in good faith expecting the agreement we signed to be honoured. The agreement expired with no communication from the people behind RDT and many months later the information I gave to them in confidence was being used for their own purposes.” Cam Birge, President of CTT Pharma said, “We will defend our intellectual property at all costs to protect the investment of our shareholders.” The following list details all of CTT’s patents, their filing dates, and issuance dates in Canada and the United States: Canadian Patents Patent #2624110; Filed; 2008/03/27 Issued; 2010/11/09 - Dissolving Orally Administrable Wafer FormulationPatent #2910206; Filed; 2015/10/23 Issued; 2016/12/13 - Novel Therapeutic CompositionPatent #2922959; Filed; 2016/03/03 Issued; 2018/01/02 - Orally Administrable Composition US Patents Patent #8623401; Filed; 2008/03/27 Issued;2014/01/07 - Wafer FormulationPatent #9833461; Filed; 2015/19/27 Issued;2017/12/05 - Therapeutic Compositions Comprising Cannabinoids and CorticosteroidsPatent #2017/02523000A; Filed; 2017/04/07; Pending - Orally Administrable Composition About CTT Pharmaceutical CTT’s principal asset is a unique and novel patented drug delivery technology, an orally administered, fast dissolving thin film (the “Wafer”). This technology platform will ta...