The Company has filed a full patent with The United States Patent and Trademark Office [USPTO] Patent Application Number: 15/639,230
PETACH TIKVA, Israel, June 27, 2017 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OWCP) today announced that its wholly-owned, Israel-based subsidiary, One World Cannabis Ltd. (OWC), has filed a patent application with the United States Patent and Trademark Office for its active cannabinoid-based topical cream. This new patent application follows the previously filed 'provisional' patent application. The added protection that this patent application provides for OWC's intellectual property will enable the Company to accelerate its ongoing discussions and negotiations regarding scientific, medical and commercial collaboration.
Commenting on the filing of the patent application, Mr. Mordechai Bignitz, Chairman and CEO of OWC Pharmaceutical Research, stated, "After we announced the highlights of our pre-clinical efficacy study for our active, cannabinoid-based topical cream, starting with psoriasis, we received numerous inquiries from firms and organizations worldwide interested in purchasing the cream or initiating commercial or scientific collaboration with OWCP. The need to fully protect our intellectual property limited our ability to provide these potential customers and partners with our proprietary data. This proprietary data now includes specifics regarding the formulation of the cream, which consists of cannabinoids and other compounds that facilitate the efficient delivery of the product to infected areas. The filing of this patent application also enables us to discuss with potential customers and partners, the requirements for manufacturing the cream in accordance with the highest global standards that comply with international protocols, and includes specifics regarding required equipment and systems. We look forward to announcing a more specific plan of product launch details in due course."
Further commenting on the milestone, Dr. Yehuda Baruch, the Company's Chief Science Officer and OWC's Director of Research and Regulatory Affairs ,stated, "I am very proud of the extensive research we have done at OWC Pharma. This research dates back to 2014 and also includes the many studies myself and my medical team have conducted while leading the Medical Cannabis Program under the Government of Israel and treating thousands of patients with cannabis for medical purposes over the years. I feel confident our topical cream will be welcome into the Psoriasis community as there are millions who suffer from this disease across the globe."
About OWCP's Active Cannabinoid-based Psoriasis Cream
Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression. Skin cells in patients with psoriasis grow at an abnormally fast rate, causing a buildup of lesions that tend to burn and itch. While the real cause of psoriasis is not known, genetics are believed to play a major role in its development. According to the National Psoriasis Foundation, psoriasis affects 7.5 million people in the United States. According to Global Data and the World Health Organization, the reported prevalence of psoriasis in countries ranges between 0.09% and 11.4%, making psoriasis a serious global problem with at least 100 million individuals affected worldwide. The global market of psoriasis treatments expected to increase from a value of $6.6 billion in 2014 to more than $13.3 billion by 2024.
OWCP has developed a proprietary active cannabinoid-based topical cream for psoriasis management, with the objective of reducing the skin dryness of patients suffering from the disease. It was shown from these studies that OWC topical cream treats the main symptoms of psoriasis mainly reducing keratinocytes (epidermis cell) proliferation and reducing inflammation markers related to psoriasis. The Company previously reported trial results that concluded that after application of the Company's active cannabinoid-based topical cream formulation, there was up to a 70% improvement in a variety of inflammation markers directly associated with Psoriasis.
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