GB Sciences Announces Issuance of US Patent for Its Proprietary Pain Formulations for the 560 Billion Dollar Chronic Pain Treatment Market
LAS VEGAS - July 20, 2020 - (Newswire.com)
GB Sciences, Inc. (OTCQB: GBLX), announced today that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 10,709,670 entitled “Myrcene-Containing Complex Mixtures Targeting TRPV1” on July 14, 2020. This US patent is assigned to GBS Global Biopharma (GBS), Inc., GB Sciences’ Canadian entity. The US Patent protects methods of using GBS’ proprietary Myrcene-Containing Complex Mixtures (“MCCM”) for the treatment of pain disorders related to arthritis, shingles, irritable bowel syndrome, sickle cell disease, and endometriosis. In the US alone, chronic pain (CP) represents an estimated health burden of between $560 and $650 billion dollars, and an estimated 20.4% of U.S. adults suffer from chronic pain that significantly decreases their quality of life. Despite the widespread rates of addiction and death, opioids remain the standard of care treatment for most people with chronic pain.
“Receiving our US patent for the treatment of pain disorders using GBS’ Myrcene Containing Complex Mixtures, called MCCM™, is an important milestone in the development of these urgently needed medicines. GBS has developed both a standard MCCM formula and a time-released, nanoparticle version of its MCCM for the treatment of chronic pain. In preparation for human clinical trials, our standard MCCM and the time-released MCCM are currently being compared in an animal model demonstrating their potential effectiveness at treating chronic pain,” explained Dr. Andrea Small-Howard, Chief Science Officer and Director of both GB Sciences, Inc. and GBS Global Biopharma, Inc. “We believe that it is important to create safer, less addictive alternatives to opioids for the treatment of chronic pain disorders, like these myrcene-containing complex mixtures.”
GBS’ drug discovery program optimizes cannabis-derived formulas by reducing the complexity of natural extracts, while preserving the medically-useful positive interactions between the active ingredients in the cannabis plant. Because these MCCM are free of delta-nine tetrahydrocannabinol (THC), they will not cause any of the psychoactive side effects of THC.
In addition to this US patent issued for the treatment of pain, GBS’ intellectual property portfolio currently contains four patents that are issued in the US with corresponding patents issued internationally. Seven nonprovisional patent applications and two provisional patent applications are pending in the US and twenty-eight patent applications have been filed internationally.
“The issuance of a second US patent for active pharmaceutical ingredients that are complex mixtures identified by our biotech platform further confirms that GBS’ pharmaceutical compositions can be patent-protected for use as biopharmaceutical and nutraceutical products,” said Dr. Michael Farley, President, GBS Global Biopharma, Inc. “We believe that GBS’ chronic pain formulations will provide a much-needed alternative to standard opioid-based treatments for chronic pain.”
About GB Sciences, Inc. and GBS Global Biopharma, Inc.
GB Sciences, Inc. (OTCQB: GBLX), through their Canadian entity, GBS Global Biopharma, Inc., is a dedicated biopharmaceutical research and cannabinoid-based drug development company whose goal is to create patented formulations for safe, standardized, cannabinoid therapies that target a variety of medical conditions in both the pharmaceutical and wellness markets.
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GB Sciences, Inc. GBS Global Biopharma, Inc.
3550 West Teco Avenue, 200-900 Morrison Drive
Las Vegas, NV 89118 Ottawa, Ontario, K2H8K7
866-721-0297 Michael Farley, Ph.D., President & Director
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Original Source: GB Sciences Announces Issuance of US Patent for Its Proprietary Pain Formulations for the 560 Billion Dollar Chronic Pain Treatment Market