XPhyto Announces Update on Oral Thin Film Drug Delivery Programs - Seite 2

 

Further to its current CBD ODF and THC ODF development programs, the Company has identified a 1:1 CBD/THC ODF product for the treatment of MS induced spasticity as a prospective candidate for future development. Additional cannabis ODF products are being investigated as potential future development initiatives. XPhyto is reviewing these opportunities with respect to R&D timelines and capacity, cost of development and market opportunities. The Company will announce progress on new ODF initiatives as they are advanced.

 

The global thin film drug market is expected to grow to USD $29.2 billion by 2024 at a CAGR of 10.5% according to Market Data Forecast. The global cannabis market is forecast to grow to USD $63.5 billion by 2024 with a CAGR of 21.1%, with Germany set to lead industry growth with a CAGR of 76.8% into 2022 according to Arcview Market Research. Germany is a medical cannabis only market.

 

About XPhyto Therapeutics Corp.

 

XPhyto Therapeutics Corp. is innovating and commercializing the next-generation drug delivery, diagnostic, and cannabis investment opportunities: precision transdermal and oral dissolvable drug dosage forms; rapid, low-cost infectious disease and oral health screening tools; and validation of approved cannabis-based therapeutics focused on European markets.

 

ON BEHALF OF THE BOARD

 

 

"Hugh Rogers"

Hugh Rogers, CEO and Director

 

Investor Inquiries:

Mr. Knox Henderson

T: 604-551-2360

E: [e-mail]

www.xphyto.com

 

Forward looking statements

 

This news release includes statements containing forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "develop", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "propose" and other similar words, or statements that certain events or conditions "may" or "will" occur, and in this release include the statement regarding the Company's goal of building a successful diagnostic, drug delivery, and medical cannabis company. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including: that the Company may not succeed in developing a commercial product; that the sale of products may not be a viable business; that the Company may be unable to scale its business; product liability risks; product regulatory risk; general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; currency risks; competition; international risks; and other risks beyond the Company's control. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.