Puget Technologies’ (OTCBB: PUGE) Puget Technologies’ subsidiary, Cannabis Biotech announced it has filed a patent for its proprietary metered-dose dispensing device. The new device design will build the company’s portfolio of intellectual property and is being filed as part of Cannabis Biotech’s strategy to enter the multi-billion dollar medical marijuana industry. The company expects to accomplish this by developing a wider variety of accurate dosing delivery methods directed towards a growing, diverse patient base.
Puget Technologies President and CEO Ron Leyland said, “We have filed this application to protect our design as our scientific team moves straight into development of this delivery technology.” He added, “We look forward to the rapid commercialization of solutions to provide efficient and accurate dosing of medicinal marijuana for a wide variety of patients.”
As previously announced, the company’s family of medical marijuana products will begin with a metered-dose transmucosal delivery system, a cannabis infused beverage line and transdermal patches.
Cannabis Biotech’s research is focusing on the increasing number of patients who desire the benefits of medical marijuana but do not want the harmful effects or stigma of smoking it.
The uptake of medicine via transmucosal systems is well accepted by patients. Flonase (fluticasone propionate) manufactured by GlaxoSmithKline (NYSE: GSK), Rhinocort Aqua (budesonide) by AstraZeneca (NYSE: AZN), and Ortrivine Adult Metered Dose by Novartis (NYSE: NVS) are popular medications which are commonly used in the U.S. to treat hay fever and other allergies. The methodology is used as an anti-influenza therapy and to treat vitamin B deficiency, osteoporosis and nicotine addiction among other conditions.
According to Forbes, the U.S. medical marijuana market was worth $1.7 billion in 2011 and is expected to explode to $9 billion by 2016. Currently 20 U.S. states and the District of Columbia have enacted laws to legalize the use of medical marijuana.
Additional information about Cannabis Biotech can be found at http://www.cannabisbiotech.com.
About Puget Technologies (PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market stock exchange under the ticker symbol PUGE. Headquartered in Ft. Lauderdale, Florida, Puget Technologies acquires, develops and sells leading edge consumer oriented products ready for rapid commercialization. Product lines under development include B-29 Energy Drinks and several medical marijuana products through its subsidiary, Cannabis Biotech. Puget’s strategy is to become a recognized market leader in its product categories. Much of its resources are dedicated to research and development in order to provide consumers with quality options while meeting the expectations of its investors.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.
Contacts:
Ron Leyland 954-332-2471
