Medipure Holdings Inc.

Medipure Holdings Inc.

June 30, 2015 07:00 ET

Medipure Files Provisional Patent for Pain Management

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2015) - Medipure Holdings Inc. (CSE:MDH) is pleased to announce that its subsidiary, Medipure Pharmaceuticals Inc. ("Medipure," or the "Company"), has filed a provisional patent application with the United States Patent and Trademark Office ("USPTO") for a therapeutic, cannabinoid-based formulation for pain management, which is the base of Medipure's MP-10X product line.

On June 15, 2015, Medipure announced that it had filed a provisional patent application for a cannabinoid-based formulation designed to treat anxiety.

"We are very pleased to formally file this provisional patent, our second in the span of two weeks," stated Boris Weiss, Medipure's Chief Executive Officer. "Like our earlier filing, this second addition to our portfolio of intellectual property serves to highlight the considerable potential of our research and development efforts. Furthermore, we have now filed patent applications regarding the formulations that make up the foundation of both of our intended initial commercial offerings."

"According to Global Industry Analysts, the global market for pain management is expected to reach US $60 billion this year, making it one of the largest segments of the pharmaceutical industry. More than 1.5 billion people suffer from chronic pain, while approximately 3% to 4.5% of the global population suffer from neuropathic pain. However, many currently available pain medications can present unwanted side effects or dependency issues. Our cannabinoid-based medications are intended to create safe, effective alternatives that either mitigate or eliminate these challenges. I am excited to continue moving both MP-10X and MP-20X towards production, and to the benefits they will provide for both patients and doctors."

A provisional patent application is a legal document that establishes an early priority date for the benefit of claiming "first to file" status against other companies or individuals that may want to file for a patent with similar claims after the filing date of Medipure's provisional application.

About Medipure Holdings Inc.

Medipure Holdings Inc. is a biopharmaceutical company focused on developing and marketing novel cannabinoid-based prescription medicines through its subsidiary, Medipure Pharmaceuticals Inc. Medipure is creating a network of strategic partnerships with extensive experience in developing cannabinoids, medicines containing controlled substances, as well as plant-based bioactive molecules into prescription pharmaceutical products. Medipure will bring novel prescription medicines to market, providing patients with serious conditions valuable solutions that make a real difference to quality of life. Medipure will also seek to maximize the value of developed products through rapid, cost-effective product development, addressing market needs, and establishing further strategic partnerships as the company matures. The Medipure Cannabinoid Research Centre will perform pharmaceutical research, licensed through the Narcotics Control Regulations and Controlled Drugs and Substances Act, and will be collaborating with appropriately licensed labs in academic and clinical settings in order to perform its cannabinoid R&D. Medipure has applied to Health Canada for a license to produce and distribute medical marijuana under the Marihuana for Medical Purposes Regulations. The company has not yet received such a license and there is no guarantee that such a license will be granted to Medipure by Health Canada. However, the pharmaceutical research and development program at Medipure exists independently of a license for the production of marijuana.

Forward-Looking Statements

Information in this press release that is not current or historical factual information may constitute forward-looking information, including future-oriented financial information and financial outlooks, within the meaning of securities laws. This information is based on certain assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the companies cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release and the companies disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Contact Information