Ovation Science Inc. has secured a new Canadian patent. This patent strengthens the company’s intellectual property. It is specifically for topical formulations. These formulations contain CBD and THC. The patent title is “Composition and method for transdermal delivery of cannabidiol (CBD) and delta9-tetrahydrocannabinol (THC).” This award significantly bolsters Ovation’s international patent portfolio. It builds upon their existing U.S. patent protection.
Advancing Topical Cannabis Technology
Ovation Science develops advanced cannabinoid-based topical and transdermal products. The company focuses on commercialization and licensing. Their proprietary Invisicare® drug delivery technology is key. This technology enhances ingredient absorption. It delivers cannabinoids through the skin. Studies show superior cannabinoid absorption. It performs much better than conventional products. Lab tests show up to 82% CBD bioavailability. Competitors achieve only 2-3%. Oral CBD products often have just 6% bioavailability. Invisicare® overcomes CBD’s poor water solubility. It also addresses stability issues. This technology has over 20 years of research.
Expanding Commercial Horizons
The new Canadian patent positions Ovation Science strategically. They are now well-equipped to pursue opportunities. These include exclusive licensing agreements. Strategic partnerships are also a focus. Product commercialization is a major goal. This applies to major regulated markets. The U.S. and Canada are prime targets. Ovation generates revenue from royalties. They also earn from Invisicare polymer sales. Their own product sales contribute too.
Navigating the Cannabis Market
The topical cannabis market is growing. In Canada, topicals gained legality in late 2019. Their market share has steadily climbed. However, topicals represent a small fraction of total cannabis sales. They make up less than 1% in both the U.S. and Canada. Canadian topical sales are trending upwards. Lotions, salves, gels, and creams lead sales. Prices for topicals can be volatile. The U.S. market shows more consistent pricing. Female consumers and older age groups prefer topicals. They use them for pain relief and relaxation.
Strategic Intellectual Property
Ovation Science’s commitment to intellectual property is clear. The Canadian patent is a significant milestone. It strengthens their defensible IP position. This increases technology attractiveness. Potential licensees see greater value. The company also targets new market opportunities. They aim to expand their product range. This news aligns with Ovation’s strategic objectives. They actively seek growth in the U.S. and globally. This includes Canada and Europe.
Future Outlook and News
Ovation Science holds offices in Vancouver and Las Vegas. The company’s strategy involves licensing its technology. They provide an ancillary technology to the cannabis market. Ovation does not sell products violating controlled substance acts. Their Invisicare® platform is proven. It’s backed by decades of pharmaceutical research. This positions them for revenue growth. They plan to capitalize on evolving regulations. Demand for effective cannabinoid solutions is increasing. This provides a strong competitive advantage. The company continues to innovate. This news is significant industry news.
