LAGUNA HILLS, CA--(Marketwired - April 03, 2014) -
Itonis, Inc. (PINKSHEETS: ITNS
) today announced that it is in the final phase of its research and development of a cannabinoid-based product presently named "Cloud9™."
"The broader definition of cannabinoids refers to a group of substances that are structurally related to tetrahydrocannabinol (THC) or that bind to cannabinoid receptors." (http://www.news-medical.net/health/Cannabinoids-What-are-Cannabinoids.aspx)
The Company sees that a CBD-based product provides an opportunity to meet a growing need for treating such common ailments as pain as highlighted by the American Pain Society. (http://www.americanpainsociety.org/about-aps/Press-Room/journalistregistration.html) In a recent news release by the American Pain Society for its 33rd annual meeting in 2014, that organization said: "At the APS meeting, pain care and substance abuse experts will advise physicians on how to counsel chronic pain patients on potential benefits and risks of marijuana use and weigh the benefits of currently available, FDA-approved cannabinoid medications."
The Company has been developing Cloud9™ as a unique sublingual that dissolves under the tongue as a convenient delivery method. The manufacturing of Cloud9™ will use a Supercritical CO2 Extraction process to extract CBDs from hemp oil within lawful parameters. The Company plans on making Cloud9™ available in a unit range of 100 - 200 mg.
"Our team had been developing Cloud9 and are very pleased that we can announce this new product alongside with our recent agreement with MyECheck. It was our plan to participate in the legal cannabis sector in both the product side as well as the revenue transaction side. Bringing this together should bring tremendous value to the Company and its shareholders. Please stay tuned for further updates," says Mark Cheung, the Company's CEO.
About Itonis, Inc.
Itonis, Inc. was incorporated in the state of Nevada on July 5, 2005 under the name of Kenshou, Inc., which later changed to Itonis, Inc. on December 2, 2005. Please visit www.itonisholdings.com.
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.