skyhawk66
3 weeks ago
CANB-Good News Release today,,no wonder strong Accumulation has been going on for almost 2 months at these discounted Prices. Next up, Another Record Breaking Quarter.
Can B Corp. Secures Ownership and Control of Two Cannabis Patents Valued at $122 Million and Potentially in Excess of $750 Million
The Patents Term – Presumed Valid By Law – Extends to 2035
HICKSVILLE, NY, March 11, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Can B Corp., a Florida corporation (OTCQB: CANB) (“Can B”), a health and wellness company specializing in developing, producing and selling hemp-derived cannabinoid products, is pleased to announce that it has secured ownership and control of two cannabis patents that were valued at $122 million, applying a 90% discount and assuming a revenue stream through August 2034, and further based on only CBD claims and only in the U.S. It is believed that if the global THC and CBD markets were added to the valuation, then the value of the patents is potentially up to $750 million.
The two composition and use patents covering cannabis extracts and methods of preparing the same were acquired through Can B’s 67% owned subsidiary, Nascent Pharma, LLC, and are: (1) US 9,730,911 B2 (granted August 15, 2017) and (2) US 10,555,928 B2 (granted February 11, 2020). These patents were previously awarded to United Cannabis Corporation and recently assigned to Can B by a court procedure.
The patents were valued at $122 million in December 2020 by an independent third-party valuation team, which used a 90% discount rate due to the emerging nature of the industry. The valuation of the patents included only CBD claims and only in the U.S. Since the date of the valuation, the patents have become effective in Canada, Australia, New Zealand, Israel, and Brazil and have received additional divisional patents in the U.S. The priority date for the patents stems back to October 2013 and have pending status in the European Union, India, China, Eurasia, South Korea, Mexico, Japan, and Colombia.
Of significance, the patents survived an earlier invalidity challenge in Federal Court. The defendants claim that the patent formulation was a naturally occurring substance (which is not patentable). The court ruled that it was not, thereby denying the objection.
The patents relate to the extraction of pharmaceutically active components from plant materials, and more particularly to the preparation of a botanical drug substance for incorporation into a medicament and for use in pharmaceutical formulations, in particular comprising cannabinoids obtained from cannabis.
The patents include both a composition of matter patent and a method of use patent. The composition of matter patent covers liquid formulations of cannabis where the present cannabinoids are more than 95% CBD, THC, CBN, CBDa, THCa, or several combinations thereof. This patent covers beverages, tinctures, vape pen liquids and liquid filled capsules. This constitutes a considerable portion of the hemp and cannabis industry, potentially up to 50%.
The method of use patent uses some of the composition of matter combinations to potentially manage many debilitating conditions. These include cancer, IBS, chronic pain, PTSD, anxiety, sleep disorders and opioid dependencies.
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are thrilled to be the proud new owners of these extremely important and potentially very valuable cannabis patents. While cannabis stocks have been in a bear market for the past few years, there is no doubt that the industry has witnessed robust growth and has become more and more acceptable, legal and mainstream, despite still being considered a Schedule I drug under the Controlled Substances Act. We believe there is a strong opportunity to monetize these patents as they represent important innovations in this industry. We look forward to updating shareholders and the public with our plans going forward.”
About Can B Corp.
Can B is a health & wellness company providing quality hemp derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B’s Duramed medical device division operates out of its New York office provides durable medical devices in the “No-Fault” insurance space. Can B operates its hemp operating division in its Colorado facilities. Nascent Pharma is Can B’s newest operation in the patent and intellectual property arena. To learn more about Can B and our comprehensive line of high quality products, please visit: Canbiola.com and www.CanBCorp.com; follow Can B on Instagram @canbcorp and Facebook @ Can B Corp, Twitter @CanBCorp, YouTube @canbiola9412, or visit one of the retail outlets that carry Can B products.
Haymaker1
3 weeks ago
ITEM 8.01. OTHER EVENTS.
Can B Corp. (the “Company”) announced today that through its 67% owned subsidiary, Nascent Pharma, LLC (“Nascent”), it has acquired composition of matter and use patents (US 9,730,911 B2 granted August 15, 2017 and US 10,555,928 B2 granted February 11, 2020) covering liquid formulations of cannabis, including, among other things, beverages, tinctures, vape pen liquids and liquid filled capsules. Patented uses include using the liquid formulations to manage numerous debilitating conditions, including cancer, irritable bowel syndrome, chronic pain, post traumatic stress disorder, anxiety, sleep disorders and opioid dependencies. Through Nascent, the Company plans to pursue opportunities to license and develop uses for the patents.
An independent valuation firm valued the patents at $122,000,000 in 2020, after taking into account the present value of projected income streams, applying a 90% discount and assuming a revenue stream through August 2034. No assurance can be given that the patents will ultimately provide a revenue stream to the Company or that value of the patents will equal the value determined by the independent valuation firm.
In connection with the assignment of the patents to Nascent, Nascent has agreed to distribute to creditors of a prior owner of the patents five percent (5%) of the Company’s share of Nascent’s revenues, less a reserve for Nascent’s operating expenses and amounts repaid to Nascent investors, until the creditors have received aggregate payments of $10,000,000.
The Company has entered into a consulting agreement with the inventor who assigned the patents to Nascent which provides that the consultant will be entitled to fifty percent (50%) of distributions received by Company from Nascent.