The CBD specialist said the patent-pending method also includes a variation smoking cessation product, employing combinations of nicotine and CBD, and has been in development for over a year.
READ: Zoetic exits legacy natural resources business with deal to sell well stimulation technology and Kansas nitrogen assets
Zoetic said it believed CBD may play “a rapidly increasing role in smoking cessation aides” and that its Chill branded tobacco-free, THC-free and nicotine-free products were “well-placed to take an increasing share of this market”. The company added that, if issued, the patent will provide it with “a protected market-leading offering”.
The group also said it has separately agreed a sales agency and licence agreement with its former chairman Paul Mendell for the combined nicotine and CBD and nicotine only versions of the patent on which the two parties would share any royalties and licence fees from third-party use.
If the firm decided to utilise the combined CBD/nicotine or nicotine-only versions of the patent in the future, Mendell will receive a 5% royalty on any sales.
“The company is not aware of any other tobacco-free, THC-free, nicotine and nicotine/CBD containing products in the market, and hopes its agreement with Mr Mendell will provide a valuable additional source of revenue in the future with no additional costs”, Zoetic said.
The group added that it has also filed a second unrelated patent application pertaining to drug compositions the contain a cannabinoid.
The patent relates generally to drug compositions, and specifically to compositions in which an active ingredient is physically mixed and/or chemically bonded with a cannabinoid to form a prodrug, such that the cannabinoid modifies a pharmacodynamic or pharmacokinetic profile of the active ingredient.
“The filing of the smokable non-provisional patent is yet another step in Zoetic’s journey to lead the industry in innovation and product development. We believe there is a major shift in how tobacco users will make the transition from traditional tobacco products. We believe our first mover position will have substantial benefits as other competitors begin to enter the market”, said Zoetic co-chief executive Antonio Russo.
Fellow co-CEO, Trevor Taylor, added: “Although, our primary focus in the US has been on the Chill branded product lines, we believe it is important to continue to develop other cannabinoid related products that will serve other parts of the emerging market.
The combination of cannabinoids with other drug compositions may prove to be a pivotal breakthrough in the science of drug efficacy.”
Story by ProactiveInvestors
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