Cannasat Therapeutics Inc.
TSX VENTURE : CTH

Cannasat Therapeutics Inc.

February 27, 2008 09:01 ET

Cannasat Therapeutics Provides Update on Patent Application for Drug Development Programs

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2008) - Cannasat Therapeutics (TSX VENTURE:CTH), the developer of novel cannabinoid-based pharmaceutical products, announced that it has received a favorable decision from the United States Patent and Trademark Office (USPTO).

The USPTO has indicated that the patent application, which has been in-licensed exclusively worldwide from third-party researchers, has been allowed. The patent is expected to be granted in the next few months as per the usual USPTO administrative process.

This patent application is important for Cannasat as it is expected to form the basis for at least one of its neuropathic pain products. Neuropathic pain is associated with nerve damage and can be an especially difficult condition to treat, often requiring the use of strong narcotics that can cause serious adverse effects. This condition is caused by many common diseases such as diabetes, herpes zoster, HIV/AIDS, multiple sclerosis, and other causes of chronic pain.

"The action by the USPTO provides independent validation that Cannasat's approach is novel and inventive, and is consistent with similar actions taken by other international patent offices to date. Our patent application covers products we are developing for pain and mood disorders, and this action by the USPTO further strengthens our intellectual property platform and our ability to market and protect our exclusivity as to these products worldwide," said David Hill, Cannasat's Chief Executive Officer.

About Cannasat Therapeutics

Founded in 2004, Cannasat is clinical stage pharmaceutical research and development company trading on the Toronto Venture Exchange (CTH-V). Cannasat is developing cannabinoid-based pharmaceutical products using proprietary formulation and drug delivery technologies. Cannabinoids have broad therapeutic applications that are believed to include the treatment of neuropathic pain, chronic pain, depression, anxiety and movement disorders. More information about Cannasat is available at www.cannasat.com.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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