HERZLIYA, Israel and CALGARY, Alberta, Nov. 3, 2023 /PRNewswire/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) ("Innocan" or the "Company"), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the company's latest groundbreaking findings.

Animals were injected every several weeks with LPT-CBD over a period of 6 months, and showed:

• Good tolerance of the drug.
• Consistently noticeable pain relief and increased mobility.
• No undesirable adverse effects.

Based on these findings, the Innocan research team, led by Prof. Chezy Barenholz, assumes that LPT-CBD can be safely used for long-term therapy. LPT-CBD was initially designed for the treatment of chronic diseases that require a continuous drug administration and therapeutic effect. These data represent an interim supportive and encouraging results.

A Milestone in Drug Development Process

"These are exciting times! With every successful treatment, it is a monumental step forward in our journey to revolutionize therapeutic care. The safety profile exhibited by LPT-CBD in this long-term treatment not only underscores our commitment to innovation but also propels us closer to our goal of transforming patient care through sustained-release therapies.", said Iris Bincovich, CEO of Innocan Pharma and she continues, "We are getting closer and closer to our stated midterm-goal the FDA approval process for "LPT-CBD".

Hints of safety, major impact on future development.

After each injection, animals were closely monitored, and no adverse effects were observed, including no changes in vital signs, complete blood count and biochemistry panel taken at various times after injections. Our results suggest that multiple LPT-CBD injections are safe. This outcome of our liposomal CBD formulation's safety is a significant stride in our future development trajectory.

Significant progress toward safety assessment.

The safety of a drug is an important factor that is required to be carefully evaluated before moving to human trials. Typically, such safety assessment is initially performed in animals and later confirmed in humans. Our liposomal technology was specifically designed to provide a longer exposure to CBD when compared to the conventional oral route. Hence, our groundbreaking data strongly implies that a long CBD exposure is not only effective as previously announced but can also be well tolerated for a long period.

About Innocan Pharma:

Innocan Pharma is a pharmaceutical technology enterprise operating primarily in two segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals division, Innocan is dedicated to developing cutting-edge drug delivery platforms infused with cannabinoid science to enhance patient quality of life. This division is pioneering two drug delivery technologies: (i) LPT, a CBD-loaded liposome platform designed for precise dosing and controlled, prolonged CBD release into the bloodstream, currently in preclinical trials for epilepsy and pain management, and (ii) CLX, a CBD-loaded exosomes platform with potential regenerative and anti-inflammatory effects targeting the Central Nervous System (CNS). The Consumer Wellness division is focused on crafting innovative, high-performance self-care products to foster a healthier lifestyle. Under this division, Innocan has established a Joint Venture named BI Sky Global Ltd., specializing in advanced targeted online sales.

Disclaimer:

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws, including but not limited to information regarding research and development, collaborations, potential FDA and other regulatory authority applications, anticipated approval timelines, new areas of medical research with CBD, future regulatory milestones, and potential treatment effects from research activities and/or the Company's products. Such forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information is based on key expectations and assumptions made by Innocan, including the anticipated benefits of the products, regulatory satisfaction, and completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results to differ materially from the anticipated results or expectations expressed in this news release. Key risks and uncertainties include global and local economic, market, and business conditions; governmental and regulatory requirements and actions; and relationships with suppliers, manufacturers, customers, business partners, and competitors. There are also inherent risks in product distribution, including import/export matters and the failure to obtain necessary regulatory and other approvals in a timely manner. The anticipated timeline for market entry may change due to regulatory requirements or the need for additional time to conclude manufacturing and distribution arrangements. As a result, readers should not place undue reliance on the forward-looking information contained in this news release. Innocan does not undertake to update, correct, or revise any forward-looking information due to new information, future events, or otherwise, except as required by applicable law.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

SOURCE Innocan Pharma Corporation