Innocan Pharma Reports Successful Initial Safety of LPT-CBD in Minipigs

Innocan Pharma Corporation, a leading entity in the pharmaceutical and biotechnology sectors, recently announced the successful completion of a preliminary safety evaluation of its single injection and sustained-release LPT-CBD on minipigs. The study, conducted in HERZLIYA, Israel, and CALGARY, AB, showcased promising results as the animals exhibited excellent drug tolerance without any adverse drug-related effects.

Minipigs, recognized by the FDA as excellent models for toxicology due to their similarities with humans in drug metabolism, skin structure, genetics, and physiological mechanisms, were used in the study. During the evaluation, the minipigs received a single subcutaneous injection of LPT-CBD and were observed for pharmacokinetics and basic safety parameters over a one-month period. Encouragingly, all of the animals tolerated the drug well and showed no signs of adverse reactions.

Dr. Eyal Kalo, the R&D Director at Innocan Pharma, expressed his excitement over the findings, emphasizing the significance of these results in reinforcing the safety profile of LPT-CBD following a single injection. He noted the importance of each new data point collected as a significant step towards revolutionizing patient care through sustained-release therapy. The ongoing efforts to gather comprehensive data are paramount to achieving ultimate regulatory approval for LPT-CBD.

Professor Chezy Barenholz, the CSO of Innocan Pharma, also highlighted the importance of these results, stating that they underscore the promising characteristics of LPT-CBD in physiological settings that closely resemble human conditions.

The study involved administering three escalating doses of LPT-CBD through subcutaneous injections in minipigs, followed by a thorough monitoring process over 28 days. Throughout the duration, the animals demonstrated excellent drug tolerance, maintaining normal blood clinical parameters, a healthy appetite, and typical behavior. These results align with previous safety evaluations conducted on other animal models, including goats and dogs, further confirming LPT-CBD's favorable tolerability profile for both single and repeated use.

In addition to the successful safety evaluation, Innocan Pharma also announced the grant of 290,000 restricted share units (RSUs) to its consultants. Each RSU entitles the recipient to receive one common share of the Company upon vesting. Of these RSUs, 150,000 will vest on May 30, 2024, and the remaining 140,000 will vest on September 30, 2024. These RSUs and the underlying common shares are subject to a statutory hold period of four months and one day, ending on October 1, 2024.

Furthermore, Innocan Pharma granted 2,380,000 stock options to its employees and consultants, featuring a strike price of $0.28 and various vesting periods extending up to 12 months. All options are set to expire on May 30, 2029.

Innocan Pharma operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, the company focuses on innovative drug delivery platform technologies featuring cannabinoid science, aiming to treat various conditions and improve patients' quality of life. This includes the LPT CBD-loaded liposome platform, which enables precise dosing and prolonged controlled release of CBD into the bloodstream. Currently, this delivery platform is in preclinical trials for epilepsy and pain management.

The Consumer Wellness segment of Innocan Pharma develops and markets a wide range of high-performance self-care products, promoting a healthier lifestyle. This segment includes a Joint Venture named BI Sky Global Ltd., which concentrates on advanced targeted online sales.

The successful preliminary safety evaluation of LPT-CBD marks a significant milestone for Innocan Pharma, paving the way for further advancements and potential regulatory approvals in the future.