About Cannasat

 

Company-at-a-Glance

Cannasat Therapeutics Inc.
Incorporated, January 2004

Capital Raised
$9.4 million (As at March 31, 2008)

Headquarters
Toronto, Ontario, Canada

Company Status
Publicly traded on TSX Venture Exchange under symbol “CTH”

Legal Counsel
Owens, Wright LLP

Auditors
McGovern, Hurley, Cunningham LLP

Overview

Cannasat is developing pharmaceutical products derived from naturally occurring and clinically proven molecules.  These products have broad therapeutic applications which include the treatment of neuropathic pain, chronic pain, depression, anxiety and movement disorders.

Strategy

Develop at least three product candidates based on proprietary and patented technology, and successfully complete early to mid-stage clinical testing in preparation for licensing these products to suitable Big Pharma marketing partners.

The Opportunity

Cannabinoid science is evolving rapidly with the discovery of cannabinoid receptors, endogenous cannabinoids, the effect of cannabinoids on other systems such as the serotonergic system, and the understanding of the signaling pathway all occurring in the last 15 years. As a result, new targets for disease management for a variety of neurological and non-neurological conditions have now been identified for which few safe and effective products exist. Many of these conditions such as chronic pain are poorly treated with current products which are associated with therapy limiting adverse effects. Naturally occurring cannabinoids serve as logical candidates as their efficacy and toxicity is well known through a long history of medicinal cannabis use as well as clinical experience with existing pharmaceutical products which have recently lost patent protection.  By applying unique drug delivery and formulation technologies, Cannasat is pursuing a low risk strategy by developing proprietary products from active ingredients known to be effective for a variety of conditions but not currently available on the market in safe and convenient forms for the vast majority of the patient population.

Significant Milestones

Since its incorporation in January of 2004, Cannasat has undertaken a number of steps in pursuit of its business strategy including:

  1. Closed several seed rounds of investment and going public transaction on TSX Venture Exchange raising a total of approximately CAD$ 9.4 million

  2. Designed three product candidates (CAT 210, CAT 310, CAT 320) with broad therapeutic applications and with good safety profiles for large target markets that are underserved by current pharmaceutical products

  3. Assembled a team of formulation developers, regulatory and intellectual property experts, neuroscientists, and cannabinoid researchers

  4. Acquired and continue to develop the intellectual property rights to key technologies that will facilitate the development of proprietary cannabinoid-based products

  5. Partnered with a formulation partner, Montreal-based Intelgenx Corp., which specializes in developing novel product formulations

Over the next 18 months Cannasat plans to advance clinical testing on the CAT 310 and CAT 320 product candidates. Cannasat also plans to in-license and co-develop other proprietary drug delivery technologies as well as new product candidates with existing and new potential partners.