Lifestyle Delivery Systems Inc. announces Update on Trade Marks and Patent
VANCOUVER, British Columbia, April 18, 2018 /PRNewswire/ -- Lifestyle Delivery Systems Inc. (CSE: LDS), (OTCQX: LDSYF), (Frankfurt: LD6, WKN: A14XHT) ("LDS" or the "Company") announces updates on trade mark filings and scheduling of clinical trials for bio-availability of CannaStripsTM.
The CannaStripsTM Logo and tag line Smoke Free Pain Relief have been issued European Union trade mark registration numbers 017383712 and 017383738 by the European Union Intellectual Property Office. The Company has also applied for California Trademark protection. These marks are in addition to the Canadian Trademarks currently held by the Company.
The Company is scheduling clinical trials in May 2018 to define the bio-availability benefits of the Lifestyle Delivery Systems' CannaStripsTM technology. These clinical trials are intended to quantify the enhanced delivery method of CannaStripsTM vs other forms of delivery.
Recent inquiries regarding the CTT Pharmaceutical Holdings, Inc. ("CTT Pharma") claims regarding a new patent for oral delivery has forced the Company to share the findings from three independent Patent Lawyers on both sides of the US/Canadian border. First and most important, the technology described in the CTT Pharma patent does not resemble the CannaStripsTM patent and LDS believes there is no infringement by either patent of the other. Secondly, a nearly identical CTT Pharma patent was filed in the United States over twenty years ago and expired over two years ago, which means that patent has no force or effect in the United States. That patent did not preclude a number of pharmaceutical companies from producing oral film products, such as breath strips or thera-flu strips, for the last twenty years in either the United States or Canada. Additionally, no commercialized version of the specific CTT patent in the United States during its twenty-year history was found. We are continuing to research the CTT Pharma patent and will update our shareholders upon any further relevant information should it become available. LDS CEO Brad Eckenweiler stated, "We are confident that the CannaStripsTM technology is not infringed on by the CTT Pharma patent and that the clinical trials scheduled in May will add additional separation from other methods of delivery, both old and new."
About Lifestyle Delivery Systems Inc.
Lifestyle Delivery Systems Inc. is a licensed, state-compliant vertically integrated cannabis-related company. From our isogenic pollination nursery to our cutting edge, state-of-the-art production facility located in Southern California, LDS has become one of the most diverse, innovative and scientifically based cannabis companies throughout North America. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to smoking but also a new way to accurately meter the dosage and assure the purity of the product. From start to finish, the production process tests for quality and composition of all the ingredients used in each and every strip, resulting in a delivery system that is safe, consistent and effective.
On behalf of the board of directors of Lifestyle Delivery Systems Inc.
Brad Eckenweiler
CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
investor.relations@lifestyledeliverysystem.com
1-866-347-5058
Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.