Ottawa, Ontario (Marketwired – Sept. 17, 2014) – Mindesta Inc. (“Mindesta” or the “Company”) (OTCBB: MDST) has closed on its acquisition of of CTT Pharmaceuticals, Inc. (“CTT Pharma”), The Company, CTT Pharma and the shareholders of CTT Pharma executed a share exchange agreement which provide in part for the Company to acquire all the issued and outstanding shares of common stock of CTT Pharma in exchange for 149,183,285 shares of the Company’s common stock. With the acquisition of CTT Pharma, the Company has 184,368,022 shares of common stock issued and outstanding. CTT Pharma will operate as a subsidiary of Mindesta.
CTT Pharma has invented and developed an ideal intra oral sublingual, fast-dissolving wafer film and tablet drug delivery system complete with backend tracking and support. This novel intraoral drug delivery system, is CTT Pharma’s proprietary technology. CTT Pharma’s principal asset is a patented, orally administered, fast dissolving wafer (the “Wafer”). The Wafer formulation is protected by Canadian Patent Number CA 2624110 C and US Patent Number 8,823,401 B2. The Canadian Patent, an open patent and US Patent consist of approved opiates; specifically Fentanyl, Morphine, Codeine as well as antihistamine’s, anti-diabetes, cholesterol lowering and blood pressure drugs, etc.
CTT Pharma’s primary mission is to lower addiction and improve overall compliance within the pain management market specifically opiates through the use of improved drug delivery and novel IT technology. This technology platform will be targeting both the human and pets (Veterinarian) markets.
“We feel that we can help mitigate addiction and improve compliance through the use of our patented delivery system and digital compliance platform. We are extremely pleased to close this transaction allowing investors the opportunity to participate in this lucrative pain management market. A physically less addictive opioid would be heralded by doctors, patients, governments, insurance and pharmaceutical companies worldwide,” stated Dr. Pankaj Modi, CEO, CTT Pharmaceuticals.”
CTT Pharma’s Oral fast dissolving drug delivery systems will consist of films and wafers that dissolve within a few seconds after placement in the mouth without water. The majority of drugs administered using our drug delivery system have the ability to enter the bloodstream quickly mirroring injections, are convenient and discrete and can be administered anywhere. A faster absorption rate is achieved because the mouth contains a very thin mucosa and is extremely vascular. There is no bitter taste, no smoke inhalation as is the case with cannabis, and less degradation of medication (by bypassing the stomach) and most importantly lower dosage units are required given the efficiency of absorption. Patient compliance is improved, especially with those who have a fear of choking and/or are pediatric, geriatric or incapacitated patients who have difficulty swallowing. Most fast dissolving systems on the market today…