INDIANAPOLIS, IN–(Marketwired – Jan 29, 2015) –Stevia Corp. (OTCQB: STEV) (“Stevia Corp” or the “Company”), an international farm management company and healthcare company focused on the commercial development of products that support a healthy lifestyle, including stevia and hemp and their compounds, is pleased to announce the filing of two additional provisional patent applications with the United States Patent and Trademark Office (USPTO) for the treatment of pain and cardiovascular disease. The two separate applications include a provisional patent application that contains a formulation of naproxen and cannabidiol (CBD) and another application that contains a formulation of aspirin and cannabidiol. Stevia Corp. has now filed four provisional patent applications with the USPTO for four of the largest selling generic pain killing medications worldwide in combination with CBD.
“We believe that there will be significant advantages of using these four very effective drugs in combination with cannabidiol as opposed to using these drugs alone. Acetaminophen, Ibuprofen, Naproxen and Aspirin generate billions of dollars in sales each year. Our four provisional patent applications include 63 claims in total and we look forward to filing the utility patents over the next 12 months. We strongly believe that our intellectual property strategy, if successfully implemented, will provide us a competitive advantage over other healthcare companies using cannabinoids for human healthcare,” commented George Blankenbaker, President of Stevia Corp.
Mr. Blankenbaker concluded, “We have included other cannabinoids within our 63 patent claims including THC which we believe may also create significant value going forward.”
All four provisional patent applications were filed with the assistance of an intellectual property attorney with extensive experience in the healthcare industry. A provisional patent application is a legal document which establishes an early priority date for the benefit of claiming “first to file” status against other companies or individuals that may want to file a patent with similar claims after the filing date of our provisional patent.
Naproxen is a non-steroidal anti-inflammatory drug used to treat both pain and inflammation. Although the mechanism of action of NSAIDs such as naproxen are not completely understood, they are believed to work by inhibiting the synthesis of prostaglandins which are fat-like molecules that are involved in mediating inflammation, pain and fever. It achieves this synthesis by inhibiting cyclooxygenase, an enzyme that is present in various tissues of the body.
Aspirin is a painkiller and an anti-inflammatory agent with a long history of safe use. Aspirin is also frequently prescribed to individuals that have experienced an adverse cardiac event such as myocardial infarction. Furthermore, aspirin is used for the prevention of cardiac disease. Aspirin works for pain care and inflammation by inhibiting the synthesis of prostaglandins, which are fat-like molecules that are involved in mediating inflammation, pain and fever. Aspirin also has an antiplatelet effect by inhibiting the production of thromboxane. Under normal circumstances, thromboxane binds platelet molecules together to create a patch over a damaged section of a blood vessel. If and when the platelet patch becomes too large, it can restrict blood flow resulting in a heart attack or stroke. If atherosclerosis is present or an individual’s family has a history of heart disease, a daily dose of aspirin may be prescribed after a heart attack or to prevent another heart attack. In many cases, a daily dose of aspirin is prescribed for the prevention and management of signs of cardiovascular disease.
A provisional patent application is not required to have a formal patent claim or an oath or declaration. However, an applicant who files a provisional patent must file a non-provisional patent with the USPTO within 12 months of the filing of the provisional patent application in order to benefit from the priority date. Most importantly, the provisional application allows the owner of the patent to market products that are believed to be covered by the patent application with “patent pending” status. Stevia Corp filed its four applications pursuant to other country’s patent statutes, which will allow Stevia Corp to claim the priority date in many other countries besides the United States upon the filing of a non-provisional patent application. There is no guarantee that filing a provisional or a non-provisional patent application will result in a successful registration with the USPTO.
About Stevia Corp. (OTCQB: STEV)
Stevia Corp. is a farm management company and healthcare company focused on developing highly nutritional, high value products through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. Stevia Corp invests in R&D and IP acquisition and manages its own propagation, nursery and plantations as well as provides services to contract growers and other industry growers. Stevia Corp was founded on the principal of implementing socially responsible, sustainable, quality agribusiness solutions to maximize the long-term efficient production of nutritional crops. For additional information please visit: www.steviacorp.us.
About the Hemp Industry Sector
Hemp is a crop that can be grown for food and non-food purposes. As a result of its numerous nutritional benefits, many new food products containing hemp seed and its oil are finding their way into the marketplace, including protein mixes, pasta, tortilla chips, salad dressings, snack products and frozen desserts. Non-dairy hemp “milk” beverages, which provide significant amounts of omega 3 essential fatty acids (EFAs) and protein, are also available. Hemp oil is also used in nutraceuticals and health care products as well as industrial applications.
As an industrial fiber source, hemp is undergoing rapid growth as a natural fiber in everything from clothing and textiles to automotive composites. The fiber is also gaining popularity as a building material such as insulation.
The Hemp Industries Association (HIA) estimated that the 2013 retail sales value of hemp food and body care products in the United States was $184 million. When clothing, paper, auto parts, building materials and various other products are included, the HIA estimates that the total retail value of hemp products sold in the US in 2013 to be at least $581 million and included more than 50,000 products.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, filing patent applications, product development, development of a product containing both naproxen and cannabidiol, development of a product containing both aspirin and cannabidiol, potential of CBD for treating diseases, annual retail value of hemp products sold in the U.S., growth of industrial hemp product industry, product development and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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