VANCOUVER, British Columbia, Feb. 28, 2022 (GLOBE NEWSWIRE) — HYTN Innovations Inc. (“HYTN” or the “Company”) (CSE: HYTN) is pleased to announce that, through a manufacturing and sales agreement (the “Agreement”) with Promethean BioPharma (“Promethean”), it has successfully developed, exported and launched cannabis nano-emulsions featuring HYTN’s proprietary Elevation Technology® into the Australian medical cannabis market.
The products being formulated and manufactured for Promethean (the “Products”), which are now selling under the Australian Therapeutic Goods Administration (TGA) Special Access and Authorized Prescriber Scheme, showcase HYTN’s ability to leverage its partnerships, proprietary manufacturing process and expert formulation skills to deliver novel products into emerging legal cannabis markets.
The Products are cannabis oil in water emulsions featuring HYTN’s Elevation Technology® and include the following: a high CBD product; a balanced CBD:THC product; a high THC product; and a CBD isolate product. The Products, which HYTN believes are the first of their kind to reach the Australian market, are packaged in 60mL bottles each containing 1,200 mg of cannabinoids.
Jason Broome, HYTN Chief Operating Officer, stated, “Delivering cannabinoids orally has traditionally been a challenge. Oil-in-oil formulations, whereby cannabis distillate or isolate is suspended in an oil such as medium-chain triglycerides (MCTs), tend to have diminished bioavailability and onset times, resulting in reduced efficacy. Newer stable nano-emulsions such as those featuring our Elevation Technology® have an average particle size of <100 nm, which enhances both bioavailability and onset times.”
“The CBD-based Products are generally being prescribed in Australia for inflammation, seizures, nausea, anxiety, depression, migraine and psychosis, while the THC-based Products are generally being prescribed to assist in the treatment of pain, lack of appetite, insomnia, glaucoma, inflammation, nausea and muscle spasticity,” noted Michael Kale, MD, Chief Medical Officer, Promethean.
“The relationship between HYTN and Promethean focuses on quality, innovation, and value for all stakeholders. The Products efficiently utilize active ingredients by focusing on the science of bioavailability, ensuring patients get more of the active ingredient they have paid for. This is an exciting first step on a carefully planned journey. The first of the Products have been prescribed in Sydney and are being distributed across Australia,” stated Peter Comerford, Promethean Chief Executive Officer.
HYTN, as stated in its business plan, intends to continue to explore opportunities to expand its product capabilities in emerging legal cannabis markets. The Company hopes this will be the first of many projects highlighting its Elevation Technology® for medical purposes.
About HYTN Innovations Inc.
HYTN formulates, manufactures, markets, and sells premium cannabis goods. With the mission to be the leading provider of consistent, natural, and delicious cannabis products, HYTN focuses its efforts on identifying category opportunities and takes an innovative approach to delivering elevated cannabis experiences to a discerning customer base.
