Stevia Corp. Files Second Key Provisional Patent Application with the United States Patent and Trademark Office for a Cannabidiol (CBD) and Ibuprofen Formulation to Treat Pain
INDIANAPOLIS, Jan. 20, 2015 /PRNewswire/ —Stevia Corp. (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 a second important provisional patent application with the United States Patent and Trademark Office for the treatment of pain using ibuprofen and Cannabidiol (CBD).
The provisional patent application closely follows the company’s previously announced first provisional patent application for pain comprising acetaminophen and CBD. As in the previously filed application, this patent includes multiple claims including but not limited to combinations of cannabinoids including CBD and ibuprofen for the treatment of pain. The provisional patent application was 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.
Ibuprofen is a non-steroidal drug that can be used to relieve pain and reduce fever. Ibuprofen is also widely recognized as a non-steroidal anti-inflammatory drug (NSAID). Like many NSAIDs, ibuprofen works 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. Ibuprofen is the active ingredient in popular OTC (over-the-counter) analgesics such as Advil® and Motrin®. For most pain sufferers, use of these drugs requires a long term, daily dosing regimen.
Cannabidiol (CBD) is a cannabinoid that is present in most varieties of the cannabis sativa and cannabis indica plants. Cannabinoids are unique to the cannabis sativa and cannabis indica plants. Unlike some of the other molecules found in varieties of the cannabis plant, it is non-psychoactive and it is not believed to have any addictive properties. It is also extremely well tolerated at high doses with little or no side effects. Cannabidiol catapulted into a national story after being an important part of the 2013 CNN documentary “Weed”.
George Blankenbaker, Stevia Corp commented, “This is our second key provisional patent application related to pain which is one of the largest healthcare markets in the world. In the past two weeks, we have announced our intention to secure patents and to launch products that contain specific cannabinoids in combination with either ibuprofen or acetaminophen. Ibuprofen and acetaminophen are two of the largest selling OTC drugs in the world and are the key ingredients behind Motrin® and Tylenol®.”
Mr. Blankenbaker continued, “As the market for both prescription and non-prescription pain reliever products continues to grow, unfortunately the amount of people experiencing side effects and the amount of people addicted to prescription pain killers also continues to grow. Our goal is to develop a painkiller that first and foremost works. Second, it must minimize adverse side effects. Finally, it must reduce the chance of addiction. We believe we will be able to develop these three attributes in a pain killer and as we stated in the previous announcement, we are exploring the possibility of partnering with a large pharmaceutical company that has extensive experience in the pain care market and particularly, experience with products that contain these two OTC medicines.”
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 United States Patent and Trademark Office 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 application 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.
Tylenol is a registered trademark of Johnson and Johnson. Motrin is a registered trademark of McNeil Consumer Healthcare. Advil is a registered trademark of Pfizer.
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 ibuprofen and cannabidiol, development of a product containing both acetaminophen and cannabidiol, potential joint venture for future product development, 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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