CURE Pharmaceutical Holding Corp CURR said Tuesday it managed to broaden its license from the U.S. Drug Enforcement Administration.
The expanded license as an authorized manufacturer of Schedule 1 substances to include both cannabis plant extracts and synthetic cannabidiol (CBD) will allow the company to take advantage of its latest patent for the extraction and purification of cannabis and processing for drug formulation.
CURE has developed a proprietary technology called CUREfilm that allows for delivery of drugs and cannabinoids through an thin oral film. The company plans to develop and manufacture cannabis-derived and synthetic CBD-based pharmaceutical products using CUREfilm at its facility in Oxnard, California.
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The license from the DEA expands the formulations that CURE can develop, allowing it to use both the natural cannabis plant, including hemp and synthetic cannabinoids. CURE's latest patent, registered under No. 10,238,705 covers the extraction and fractioning of bioactive cannabinoid molecules such as THC and CBD from the cannabis plant, allowing to integrate them into a dosage form, such as CUREfilm.
The CUREfilm technology offers increased bioavailability, ease and precision of dosing and greater palatability of cannabinoids.
"Additionally, the CUREfilm technology offers a consumer friendly experience that is more effective, discreet and convenient than tinctures, flowers and edibles,” CURE CEO Rob Davidson told Benzinga.
The latest development allows CURE to extend its competitive advantage and providing breakthrough pharmaceutical products.
"CURE positioned to develop CUREfilm products containing cannabinoids as both dietary supplements and pharmaceutical drugs, depending on FDA regulations. Through our partnership with Canopy Growth Corp CGC, we will be deploying our technology outside of the United States for both medical and recreational uses," said Davidson.
The thinly-traded OTC stock closed Tuesday at $4.45 per share.
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