CURE Pharmaceutical Holding Corp (OTC: CURR) said Tuesday it managed to broaden its license from the U.S. Drug Enforcement Administration.
The expanded license as an authorized manufacturer of Schedule 1 substances to include both cannabis plant extracts and synthetic cannabidiol (CBD) will allow the company to take advantage of its latest patent for the extraction and purification of cannabis and processing for drug formulation.
CURE has developed a proprietary technology called CUREfilm that allows for delivery of drugs and cannabinoids through an thin oral film. The company plans to develop and manufacture cannabis-derived and synthetic CBD-based pharmaceutical products using CUREfilm at its facility in Oxnard, California.
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The license from the DEA expands the formulations that CURE can develop, allowing it to use both the natural cannabis plant, including hemp and synthetic cannabinoids. CURE's latest patent, registered under No. 10,238,705 covers the extraction and fractioning of bioactive cannabinoid molecules such as THC and CBD from the cannabis plant, allowing to integrate them into a dosage form, such as CUREfilm.
The CUREfilm technology offers increased bioavailability, ease and precision of dosing and greater palatability of cannabinoids. The latest development allows CURE to extend its competitive advantage and providing breakthrough pharmaceutical products.
The thinly-traded OTC stock closed Tuesday at $4.45 per share.
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