$CTTH CTT Pursues Expansion Into New Industry Verticals and the United States with Business Development Appointments
Press Release | 09/01/2020
CTT Pursues Expansion Into New Industry Verticals and the United States with Business Development Appointments
Canada NewsWire
HAMILTON, ON, Sept. 1, 2020
Focus expands to include nutraceutical and pharmaceutical sectors
New aggressive business development strategy
HAMILTON, ON, Sept. 1, 2020 /CNW/ - CTT Pharmaceutical Holdings, Inc., (the "Company" or "CTT") (OTC: CTTH), an innovative life sciences company with a portfolio of IP in novel drug delivery systems, today announced that the Company is pivoting to a more aggressive business development model targeting new industry verticals and geographic jurisdictions.
To this end, the Company has strengthened its team with the appointment of Mr. Ryan Khouri and Dr. Greg Fedorcik as Director of Nutraceuticals and Director of Pharmaceuticals, respectively. Both Mr. Khouri and Dr Fedorcik will report to Marc Lakmaaker. Mr. Lakmaaker, previously appointed as special advisor to the Company, will take on additional responsibility as SVP Commercial Development at CTT.
Mr. Lakmaaker, a chemical engineer and former Aurora Cannabis executive, has been active in the cannabis sector for over 5 years in a variety of roles. He brings a solid track record in business development, including leading a sales team in the specialty chemicals sector. Mr. Lakmaaker founded Clearview Capital Consult, a strategy, IR and communications advisory in 2019, and has since helped various companies in the sector with a variety of corporate initiatives, such as strategic development, turnarounds, commercialization, capitalization and communications.
Mr. Lakmaaker commented, "These appointments are an important first step in our pivot to a more aggressive commercial strategy and our entrance into the U.S. To date the Company's focus has been on commercialization within the cannabis industry, which was successfully achieved in late 2019. The myriad of advantages of using CTT's strips to deliver active ingredients and the ease with which production set-ups can be switched over from one active ingredient to another, makes CTT's strips applicable in multiple market verticals. I look forward to working closely with Ryan and Greg in expanding our commercial reach into the pharmaceutical and nutraceutical sectors."
Mr. Khouri is a consummate salesman who started his first company in his early twenties, which he developed into a multi-million dollar sales engine. He has an extensive history in sales and investments in the United States and has a deep network of corporate connections that he will leverage to expand CTT's commercial reach into the nutraceutical industry.
Mr. Khouri added, "CTT's strips have very significant advantages over other delivery mechanisms. Health concerns around vaping (e.g. for nicotine delivery) and the limited bioavailability of vitamins delivered through pills or gummies, are just some examples. I'm a committed CTT shareholder who believes strongly in the commercial prospects of its technology. This is an exciting new role and a great opportunity and I look forward to using my skill set and network to help accelerate CTT's growth."
An award winning and published medical doctor specialized in hand surgery, Dr. Fedorcik has deep experience with commercially available pain management medication. Dissatisfaction with available remedies, including a strong wish to reduce as much as possible the use of prescription opioids, brought him in touch with CTT as an investor. Dr. Fedorcik's business interests have resulted in the development of a deep network of medical professionals and pharmaceutical companies.
Dr. Fedorcik added, "My experience as a medical professional is that both pharmaceutical companies and patients alike are looking for alternative mechanisms that deliver active ingredients for a variety of medical indications with accurate dosing, increased bioavailability and rapid onset of action. CTT's science-based approach, as evidenced by the positive outcome of its clinical trials, provides the necessary credibility to capitalize on these dynamics and pursue meaningful partnerships."
CTT Sublingual Strips – Key Advantages to Active Ingredient Delivery
CTT has developed a patented technology for the production of sublingual strips infused with active ingredients, which has multiple advantages over other types of delivery mechanisms, such as:
Health benefits: while concerns around combustion as a delivery mechanism (smoking) have existed for some time, vaping has recently hit the headlines for all the wrong reasons when people started falling ill from using vape cartridges containing vitamin E oil. Beyond this example, health concerns exist around any mechanism that requires inhalation. CTT's strips working through the buccal/mucosal route have none of these concerns.
Delivery mechanisms such as gummies, pills and capsules deliver significantly lower bioavailability of the active ingredient when compared to CTT's strips. This increase in bioavailability results from the CTT strips delivering the active ingredient through the buccal/mucosal route, bypassing the digestive tract and the liver. The advantages are multiple, including cost effectiveness by reducing the concentration of active ingredient.
Rapid onset of action: CTT's strips are proven to deliver a rapid onset of action, especially when compared to delivery mechanisms that require ingestion. This is key when consumers seek relief from symptoms, such as pain, but also positions the CTT strips well for recreational applications.
Inaccuracies and inconsistencies in dosing: the CTT strips are a method of very accurately delivering a known quantity of active ingredient. In medical applications this will give physicians the comfort level required to start prescribing certain therapies that can utilize CTT's product offerings.
With no restrictions or exclusivity on its international commercial activities and partnerships, and with a successful track record in getting its products to market, CTT is well positioned to pursue these new opportunities.
About CTT Pharmaceutical
CTT is a drug delivery technology development company. The Company brought its first product to market following the successful launch of the cannabinoid-infused Aurora Cannabis 'Dissolve Strips'.
CTT 's patent portfolio covers a nanonized, orally administrable composition that can be applied to various delivery systems including a quick dissolving oral film forming agent that effectively delivers nanonized therapeutics to improve the bioavailability of therapeutic drugs that are difficult to deliver orally. The main aim of CTT's technology is the delivery of large therapeutic molecules such as proteins or cannabinoids, as well as other active ingredients, such as nutraceuticals and pharmaceuticals. This technology has potential indications in pain management and opioid addiction management.
CTT's portfolio currently contains five issued (three Canadian and two U.S.) patents with a number of international patent applications pending in over fifty countries.
For more information, please visit our website: www.cttpharmaceuticals.com
CTT's common shares trade on the OTC market in the United States under the symbol "CTTH".
Forward looking statements
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The company is under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE CTT Pharmaceutical Holdings, Inc.
