Puget Technologies’ subsidiary, Cannabis Biotech has announced that it has filed a patent for its proprietary metered-dose dispensing device. The new device design will build the company’s portfolio of intellectual property and is being filed as part of Cannabis Biotech’s strategy to enter the multi-billion dollar medical marijuana industry. The company expects to accomplish this by developing a wider variety of accurate dosing delivery methods directed towards a growing, diverse patient base.
Puget Technologies President and CEO Ron Leyland said, “We have filed this application to protect our design as our scientific team moves straight into development of this delivery technology.” He added, “We look forward to the rapid commercialization of solutions to provide efficient and accurate dosing of medicinal marijuana for a wide variety of patients.”
As previously announced, the company’s family of medical marijuana products will begin with a metered-dose transmucosal delivery system, a cannabis infused beverage line and transdermal patches.
Cannabis Biotech’s research is focusing on the increasing number of patients who desire the benefits of medical marijuana but do not want the harmful effects or stigma of smoking it.
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. to treat hay fever and other allergies. The methodology is used as an anti-influenza therapy and to treat vitamin B deficiency, osteoporosis and nicotine addiction among other conditions.
According to Forbes, the U.S. medical marijuana market was worth $1.7 billion in 2011 and is expected to explode to $9 billion by 2016. Currently 20 U.S. states and the District of Columbia have enacted laws to legalize the use of medical marijuana.