FT. LAUDERDALE, Fla.--(EON: Enhanced Online News)--Puget Technologies (OTCBB:PUGE) revealed its subsidiary, Cannabis Biotech, has entered into an agreement with a patent attorney as it launches its product research to develop a transmucosal system for the delivery of medical marijuana. Cannabis Biotech is developing a platform with the ability to deliver a reliable, standard dose of medicine. The transmucosal platform is an effective means to introduce treatments across the mucous membrane and is a well-established and accepted system of administration.
“The intranasal system will position Cannabis Biotech to take advantage of market growth and play a significant role in the future of medical marijuana development and commercialization.”
As previously announced, Cannabis Biotech is focusing on technologies whereby medical marijuana can be effectively administered through the transmucosal platform. This project is part of a larger effort to develop a wider variety of delivery methods to serve a growing, diverse patient base and is targeted towards those who desire the benefits of medical marijuana but do not want the harmful effects or stigma of smoking it.
Ken Morrow, prominent international marijuana authority who is heading up the research for Cannabis Biotech said, “Nasal delivery for administration of therapeutic remedies has been used for thousands of years and is very popular today. The system offers the potential of appealing to a broader patient base due to being user-friendly, reliable and fast-acting.”
According to Research and Markets, a leading international source for international market research reports and market data, the global drug delivery market was worth $142.5 billion in 2012. The report cites patent expiration of certain blockbuster drugs, growing demand for self-administration and home healthcare devices, and the rising incidence of chronic diseases among the causes for the massive growth in this market.
President and CEO of Puget Technologies Ron Leyland said, “Cannabis Biotech will be filing a design patent for a unique delivery device to optimize administration of the medicine and improve effectiveness and outcomes.” He added, “The intranasal system will position Cannabis Biotech to take advantage of market growth and play a significant role in the future of medical marijuana development and commercialization.”
The uptake of medicine via transmucosal systems is well accepted by patients. Flonase (fluticasone propionate) manufactured by GlaxoSmithKline (NYSE: GSK), Rhinocort Aqua (budesonide) by AstraZeneca (NYSE: AZN), and Ortrivine Adult Metered Dose by Novartis (NYSE: NVS) are popular medications which are commonly used in the U.S. The methodology is used as an anti-influenza therapy and to treat allergies, vitamin B deficiency, osteoporosis and nicotine addiction among other conditions.
More information about Cannabis Biotech can be found at http://www.cannabisbiotech.com.
About Puget Technologies (PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market stock exchange under the ticker symbol PUGE. Headquartered in Ft. Lauderdale, Florida, Puget Technologies acquires, develops and sells leading edge consumer oriented products ready for rapid commercialization. Puget plans to become a recognized market leader in its product categories. Much of its resources are dedicated to research and development in order to provide consumers with quality options while meeting the expectations of its investors.
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