The Greater Cannabis Company, Inc. (OTCMKTS: GCAN) has been moving up steadily in recent days as pot stocks heat up across the board.
On January 7 GCAN announced it has entered into a letter of intent with iCAN Cannabis to expand distribution of its eluting patch platform into key global markets. The eluting patch platform is an innovative delivery system, which uses a patented mucoadhesive and multilayered orally dissolving thin film to deliver a precise dose of cannabinoids into the body through the buccal mucosa. Clinical studies funded in part by the National Institutes of Health (NIH) have shown the delivery system’s capability in achieving higher bioavailability and desired results in the body using lower, and controlled, dosing when compared to other routes of administration. The agreement with iCAN will include commercial ready formulations to meet medical and recreational market demands. Distribution and marketing rights for iCAN will include Israel, Australia, South Africa, Netherlands, South Africa, Mexico, Colombia, Panama, Germany, Austria, Switzerland, Malta, Macedonia, and Portuguese territories..
The Greater Cannabis Company, Inc. (OTCMKTS: GCAN) bills itself as a biotechnology company focused on the development and commercialization of innovative Cannabinoid delivery systems. Greater Cannabis deploys its licensed, patented technology platform, which has been successfully applied for other drug delivery applications, for use in Cannabis patients and consumers. The company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other cannabinoid delivery methods. The technology is versatile in that for the first-time patients can receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using a fully dissolvable, non-irritant oral eluting patch.
Greater Cannabis’ mission is to bring their technology to the global market through partnerships with leading Cannabis and pharmaceutical companies, for the benefit of patients and consumers. The Company’s business model is divided into four operating segments through their wholly owned subsidiaries; Bud Bank, Inc., GCC Superstore, LLC and GCC Investment Holdings, LLC: The Company is led by Aitan Zacharin, an executive who co-founded Fuse Science, an innovative biotechnology company headquartered in Miami, Florida and Oxnard, California.
In August GCAN acquired Green C Corporation through a Share Exchange Agreement. Green C is a Canadian company focused on innovative delivery systems for the Cannabis industry and has the exclusive worldwide license for PharMedica’s Eluting Transmucosal Patch Platform (ETP) for non-invasive drug delivery for use in the Cannabis field. The company holds the rights to new delivery technologies using a bio-adhesive, adjustable dose, and fully dissolvable, non-irritant patch, which provides for a needle free, intra-oral systemic drug delivery. The conveyance technology is designed to accelerate and enhance the delivery and bioavailability of medicines and nutraceuticals when compared to traditional methods of enteral administration.
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The Greater Cannabis Company appointed Aitan Zacharin as CEO. Mark Radom as chief legal officer, and corporate counsel. Mr. Zacharin is an experienced executive with a broad knowledge in building and managing technology and consumer products businesses. In 2012, he co-founded Fuse Science, an innovative biotechnology company headquartered in Miami, Florida and Oxnard, California. Mark Radom served as chief executive officer of Graphite Corp. From February 2010 through July 2015, Mr. Radom served as the chief carbon officer and general counsel of Blue Sphere Corporation. From 2009 through 2010, Mr. Radom was managing director of Carbon MPV Limited, a Cyprus company focused on developing renewable energy and carbon credit projects.
On October 31 GCAN updated shareholders on its objectives and roadmap to achieving long term success. The Company has completed development and reformulation of its eluting patch (EPP) for cannabinoid use. The EPP has been successfully developed in the past for pharmaceutical and over the counter (OTC) products, as well as for oral health applications. In preparation for commercializing cannabinoid products, the Company completed extensive testing of its new formulations. The cannabinoid eluting patch was found to have additional benefits over those previously mentioned, and which can be found on the Company’s website. Additional advantages specific to cannabinoid use which were found are the technology’s ability to load high doses of CBD on small 1 inch x 1 inch films with no bitter tastes, the CBD’s ability to maintain a stable form for a very long time with an estimated shelf life of over 12 months at ambient temperature, and the film’s ability to maintain its clear color and integrity, which is indicative of CBD being in an amorphous state, with high bioavailability. Most oral films would have the following problems: Unstable and crystallizing CBD leading to poor bioavailability and bad taste, CBD being oxidized to CBDHD and other degradants leaving the film purple or yellow, and the film becoming brittle over time.
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Currently trading at a $5.8 million market valuation GCAN has no cash in the treasury and fast rising debt with no revenues to date. GCAN is a really exciting biopharmaceutical company focused on development and commercialization of innovative delivery systems for the Cannabis market. The stock has led and a history of fast moves. We will be updating on GCAN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GCAN.
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Disclosure: we hold no position in GCAN either long or short and we have not been compensated for this article.