Cannabix Technologies Expands Marijuana Breathalyzer Portfolio with Licensing of UBC Technology for Workplace and Parental Us...
September 23 2019 - 8:45AM
Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF) (the
“Company or Cannabix”) developer of the Cannabix Marijuana
Breathalyzer is pleased to report that the Company has entered into
an exclusive license agreement with the University of British
Columbia (“
UBC”) to use and commercialize certain
technology for the detection of volatile organic compounds for
testing (to be used for marijuana breathalyzer purposes) owned by
UBC developed by Dr. Mina Hoofar and her team of researchers at the
UBC Okanagan School of Engineering. The patent pending UBC
technology known as a “THC Breath Analyzer” (“THCBA”) incorporates
highly sensitive microfluidic sensors that can be manufactured at
relatively low cost. This exclusive technology license will allow
for Cannabix to offer a complementary low-cost portable
breathalyzer device that would be ideally suited for workplace,
parental and personal use testing. Cannabix’s advanced “FAIMS”
(field asymmetric waveform ion mobility spectrometry) based
marijuana breathalyzer system will be primarily focussed on
roadside testing with law enforcement and toxicology lab
confirmation. UBC is developing the THCBA on an accelerated pace
and Cannabix anticipates that a breathalyzer device is expected to
be available for expanded testing this fall/winter. Significant
development work has been accomplished on the THCBA by UBC and
images of the of the THCBA portable device (under development) can
be viewed at cannabixtechnologies.com (and are included in this
press release).
The Company believes that the professional needs of law
enforcement users (use at police stations and court acceptance)
will likely differ from the needs of employers, and civilian users
of such devices. Specificity of use, pricing, ruggedization,
disposables and calibration requirements will all be factors in
delivering multiple breathalyzer products that meet the needs of
specific customers. The THCBA technology will offer a relatively
low-cost alternative to the professional grade selectivity and
sensitivity offered by the Cannabix FAIMS marijuana breathalyzer.
Cannabix’s FAIMS device allows for mass spectrometry (MS)
laboratory confirmation with its unique ability to couple directly
to MS. With both devices being developed by Cannabix, the Company
aims to significantly expand its potential base of customers for
its products and services.
Rav Mlait, CEO of Cannabix stated, “We are extremely excited
about this opportunity to add this complementary technology license
to our product portfolio. The joint UBC-Cannabix collaboration on
this low-cost marijuana breath testing technology will facilitate
our strategy to better segment market opportunities with multiple
devices. The marijuana breathalyzer technology universe is in its
early stages, and it is strategically important for Cannabix to
commercialize technologies that can bolster its ability to offer a
range of products to meet the needs of different customer segments.
We believe that diversifying our technology holdings will be
important as regulators worldwide begin to understand the different
types of cannabis breathalyzer/detection technologies that are
emerging. We want to be well prepared to meet evolving evidentiary
regulatory standards for drug breath testing technologies.”
Dr. Mina Hoofar stated, “It is always exciting to see our
research, that originates on the Okanagan campus of UBC, extend to
the next stage of development. We are thrilled that through this
collaboration, devices will soon enter the market for
self-monitoring and usage as a marijuana breathalyzer. This
collaboration will bring our findings to market providing users
with affordable, portable, fast and accurate devices. Collaborating
with Cannabix means that we can leverage their expertise in
marketing and implementation, bringing the THC Breath Analyzer one
step closer to entering the market. We look forward to future
collaborations with Cannabix as we continue to strive for
innovation in the fields of micro-fluidics and bio-marker
analysis.”
The Company also reports granting 2 million incentive stock
options exercisable at $0.80 cents per share for five years to
officers and directors and two years for consultants.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is a leader in marijuana breathalyzer
development for law enforcement and the workplace. Cannabix has
established breath testing technologies in the pursuit of bringing
portable tools to market to enhance detection of marijuana impaired
driving offences on roads at a time when marijuana is becoming
legal in many jurisdictions globally. Cannabix is working to
develop drug-testing devices that will detect THC- the psychoactive
component of marijuana that causes intoxication- using breath
samples. In particular, Cannabix is focused on developing breath
testing devices for detection of recent use of THC, in contrast to
urine testing for THC metabolite that requires an invasive
collection and reflects usage, days or even weeks earlier. The
devices will also be useful for other practical applications such
as testing employees in the workplace where impairment by THC can
be hazardous and for personal use testing.
We seek Safe Harbor. On behalf of the Board of
Directors
“Rav Mlait”
CEOCannabix Technologies Inc.
For further information, contact the Company
at info@cannabixtechnologies.com
The CSE has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements This
press release contains forward-looking information that involves
various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation
statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future
performance of the Company, such as final development of a
commercial or prototype product(s), successful trial or pilot of
company technologies, no assurance that commercial sales of any
kind actually materialize; no assurance the Company will have
sufficient funds to complete product development. There are
numerous risks and uncertainties that could cause actual results
and the Company’s plans and objectives to differ materially from
those expressed in the forward-looking information, including: (i)
adverse market conditions; (ii) risks regarding protection of
proprietary technology; (iii) the ability of the Company to
complete financings; (iv) the ability of the Company to develop and
market its future product; and (v) risks regarding government
regulation, managing and maintaining growth, the effect of adverse
publicity, litigation, competition and other factors which may be
identified from time to time in the Company's public announcements
and filings. There is no assurance that the marijuana breathalyzer
business will provide any benefit to the Company, and no assurance
that any proposed new products will be built or proceed. There is
no assurance that existing “patent pending” technologies licensed
by the Company will receive patent status by regulatory
authorities. The Company is not currently selling commercial
breathalyzers. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/cfc5b719-3ba3-47ed-ad35-aacc4b1d2148
https://www.globenewswire.com/NewsRoom/AttachmentNg/7490d8a9-bdb4-4ef3-babd-471465fbc735
Cannabix Technologies (CSE:BLO)
Historical Stock Chart
From Sep 2024 to Oct 2024
Cannabix Technologies (CSE:BLO)
Historical Stock Chart
From Oct 2023 to Oct 2024